Evergy Inc. $EVRG Stock Purchased by Asset Management One Co. Ltd.

Key Points

• Asset Management One Co. Ltd. increased its Evergy stake by 52.5% in the third quarter, adding 61,826 shares to own 179,567 shares worth approximately $14.1 million. Institutional investors collectively hold 87.24% of Evergy.
• Analysts maintain a favorable outlook, with 10 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $90.00.
• Evergy’s latest quarterly results exceeded expectations, reporting $0.88 in earnings per share versus the $0.81 estimate and $1.50 billion in revenue versus the $1.36 billion consensus.

Asset Management One Co. Ltd. boosted its position in Evergy Inc. (NASDAQ:EVRG - Free Report) by 52.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 179,567 shares of the company's stock after purchasing an additional 61,826 shares during the period. Asset Management One Co. Ltd. owned about 0.08% of Evergy worth $14,085,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Balance Wealth Partners LLC acquired a new stake in shares of Evergy during the 3rd quarter valued at approximately $31,000. SYM FINANCIAL Corp increased its stake in Evergy by 2.6% in the 3rd quarter. SYM FINANCIAL Corp now owns 4,906 shares of the company's stock valued at $385,000 after purchasing an additional 125 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in Evergy by 7.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 87,130 shares of the company's stock valued at $6,834,000 after purchasing an additional 5,818 shares in the last quarter. AGH Wealth Advisors LLC raised its holdings in Evergy by 2.0% during the third quarter. AGH Wealth Advisors LLC now owns 12,830 shares of the company's stock worth $1,006,000 after purchasing an additional 251 shares during the last quarter. Finally, Miller Howard Investments Inc. NY raised its holdings in Evergy by 0.8% during the third quarter. Miller Howard Investments Inc. NY now owns 23,782 shares of the company's stock worth $1,865,000 after purchasing an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 87.24% of the company's stock.

Wall Street Analyst Weigh In

EVRG has been the subject of several recent research reports. BMO Capital Markets dropped their target price on shares of Evergy from $89.00 to $85.00 and set an "outperform" rating for the company in a report on Tuesday, October 13th. Citigroup upped their target price on Evergy from $95.00 to $97.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Barclays lowered their target price on Evergy from $92.00 to $86.00 and set an "overweight" rating on the stock in a report on Monday, October 19th. TD Cowen started coverage on Evergy in a research report on Thursday, October 22nd. They set a "buy" rating and a $95.00 price target for the company. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Evergy in a report on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $90.00.

Insider Buying and Selling

In other news, Director Jonathan Rolph bought 1,640 shares of the company's stock in a transaction dated Friday, September 11th. The shares were acquired at an average cost of $81.47 per share, with a total value of $133,610.80. Following the completion of the transaction, the director directly owned 670 shares in the company, valued at approximately $54,584.90. The trade was a -169.07% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.52% of the company's stock.

Evergy Stock Performance

Shares of EVRG stock opened at $85.93 on Friday. The company has a market cap of $19.81 billion, a P/E ratio of 21.81, a PEG ratio of 2.21 and a beta of 0.50. The business has a 50 day moving average of $81.28 and a two-hundred day moving average of $81.98. Evergy Inc. has a 52 week low of $71.40 and a 52 week high of $88.62. The company has a quick ratio of 0.21, a current ratio of 0.36 and a debt-to-equity ratio of 1.20.

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 during the quarter, compared to analyst estimates of $1.36 billion. Evergy had a net margin of 15.19% and a return on equity of 9.20%. During the same quarter in the prior year, the firm earned $0.82 earnings per share. As a group, analysts anticipate that Evergy Inc. will post 4.27 EPS for the current year.

Evergy Profile

Evergy, Inc is an investor-owned electric utility that generates, transmits, distributes and sells electricity to residential, commercial, industrial and municipal customers. The company operates regulated utilities in Kansas and Missouri, providing electric service through its Kansas Central, Kansas South, Missouri Metro and Missouri West operations.

Evergy's generation portfolio includes wind, solar, coal, natural gas and nuclear power. The company also owns an interest in the Wolf Creek Generating Station, a nuclear power plant in Kansas, and continues to invest in renewable energy, grid modernization and other infrastructure intended to support reliable electricity service.

Evergy was formed in 2018 through the merger of Westar Energy and Great Plains Energy, the parent company of Kansas City Power & Light.

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