Evergy Inc. $EVRG Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management increased its Evergy stake by 9.1% in the second quarter, acquiring 96,765 shares and bringing its holdings to 1.16 million shares valued at approximately $100.3 million. Institutional investors and hedge funds collectively own 87.24% of EVRG.
• Analysts maintain a generally positive outlook, with Evergy receiving a “Moderate Buy” consensus rating and an average price target of $90.60. Recent targets range from $91 to $97, while the stock recently traded at $81.52.
• Evergy exceeded quarterly earnings expectations, reporting $0.88 in EPS versus the $0.81 consensus and $1.50 billion in revenue. The company also declared a quarterly dividend of $0.695 per share, representing a 3.4% annualized yield.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Evergy Inc. (NASDAQ:EVRG - Free Report) by 9.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,160,181 shares of the company's stock after buying an additional 96,765 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.50% of Evergy worth $100,274,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EVRG. Geode Capital Management LLC grew its stake in Evergy by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 6,447,150 shares of the company's stock worth $465,684,000 after buying an additional 105,842 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Evergy by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 6,091,518 shares of the company's stock valued at $441,574,000 after acquiring an additional 33,457 shares in the last quarter. Federated Hermes Inc. boosted its position in Evergy by 1.6% during the 4th quarter. Federated Hermes Inc. now owns 3,760,548 shares of the company's stock worth $272,602,000 after purchasing an additional 57,814 shares during the period. Northern Trust Corp boosted its position in Evergy by 10.6% during the 3rd quarter. Northern Trust Corp now owns 2,760,494 shares of the company's stock worth $209,853,000 after purchasing an additional 263,619 shares during the period. Finally, Magellan Asset Management Ltd acquired a new stake in Evergy in the 2nd quarter valued at $187,857,000. 87.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EVRG has been the topic of several research reports. UBS Group raised their price objective on Evergy from $88.00 to $91.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. Barclays boosted their price target on Evergy from $89.00 to $94.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 30th. Citigroup upped their price target on Evergy from $95.00 to $97.00 and gave the stock a "buy" rating in a report on Friday, July 24th. BTIG Research set a $97.00 price objective on shares of Evergy in a research report on Thursday, July 23rd. Finally, BMO Capital Markets lifted their price objective on shares of Evergy from $88.00 to $92.00 and gave the company an "outperform" rating in a research note on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Evergy presently has an average rating of "Moderate Buy" and an average price target of $90.60.

Insider Activity

In other news, EVP Charles A. Caisley sold 10,787 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $83.46, for a total transaction of $900,283.02. Following the completion of the transaction, the executive vice president directly owned 37,789 shares in the company, valued at approximately $3,153,869.94. This represents a 22.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.52% of the stock is currently owned by insiders.

Evergy Stock Up 0.6%

Shares of Evergy stock opened at $81.52 on Wednesday. The business has a 50-day moving average of $84.50 and a 200-day moving average of $83.04. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.36 and a quick ratio of 0.21. The company has a market capitalization of $18.80 billion, a PE ratio of 20.69, a P/E/G ratio of 2.10 and a beta of 0.53. Evergy Inc. has a 1-year low of $70.42 and a 1-year high of $88.62.

Evergy (NASDAQ:EVRG - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.81 by $0.07. The business had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.36 billion. Evergy had a return on equity of 9.20% and a net margin of 15.19%.During the same quarter in the previous year, the firm posted $0.82 earnings per share. As a group, equities analysts forecast that Evergy Inc. will post 4.25 EPS for the current fiscal year.

Evergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, August 18th will be given a $0.695 dividend. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Evergy's dividend payout ratio is presently 70.56%.

Evergy Company Profile

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company's business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.

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