Mitsubishi UFJ Trust & Banking Corp Sells 156,137 Shares of Evergy Inc. $EVRG

Key Points

• Mitsubishi UFJ Trust & Banking reduced its stake in Evergy by 8.2%, selling 156,137 shares and leaving it with 1,741,269 shares (about 0.76% of the company) valued at roughly $126.2 million.
• Evergy recently paid a quarterly dividend of $0.695 per share (annualized $2.78) implying a yield of 3.4% and a payout ratio of about 75.8%.
• Wall Street is generally bullish on EVRG with an average rating of “Moderate Buy” and a consensus target price of $89.30, while several firms (BTIG, Barclays, Citi) have issued buy/overweight ratings or raised targets.

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 8.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,741,269 shares of the company's stock after selling 156,137 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.76% of Evergy worth $126,233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of EVRG. Harbor Capital Advisors Inc. bought a new stake in Evergy during the 4th quarter worth approximately $27,000. Accredited Wealth Management LLC increased its holdings in Evergy by 1,310.3% during the 3rd quarter. Accredited Wealth Management LLC now owns 409 shares of the company's stock valued at $31,000 after purchasing an additional 380 shares in the last quarter. Sentry Investment Management LLC bought a new position in Evergy in the 3rd quarter valued at $41,000. Root Financial Partners LLC bought a new position in Evergy in the 3rd quarter valued at $44,000. Finally, TOWER TRUST & INVESTMENT Co acquired a new position in Evergy in the fourth quarter worth $42,000. Institutional investors own 87.24% of the company's stock.

Evergy Stock Up 0.4%

NASDAQ EVRG opened at $81.59 on Tuesday. The stock has a market capitalization of $18.79 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 2.11 and a beta of 0.61. Evergy Inc. has a 52 week low of $63.29 and a 52 week high of $85.27. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.27 and a current ratio of 0.49. The stock has a fifty day moving average of $81.96 and a 200-day moving average of $78.03.

Evergy (NASDAQ:EVRG - Get Free Report) last issued its quarterly earnings results on Saturday, January 31st. The company reported $0.42 earnings per share (EPS) for the quarter. Evergy had a return on equity of 8.79% and a net margin of 14.35%. On average, equities research analysts forecast that Evergy Inc. will post 4.25 EPS for the current year.

Evergy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th were given a dividend of $0.695 per share. The ex-dividend date was Tuesday, March 10th. This represents a $2.78 dividend on an annualized basis and a yield of 3.4%. Evergy's dividend payout ratio is presently 75.75%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on EVRG shares. BTIG Research assumed coverage on Evergy in a report on Thursday, April 9th. They set a "buy" rating and a $99.00 target price on the stock. Barclays upped their price target on shares of Evergy from $82.00 to $89.00 and gave the stock an "overweight" rating in a research report on Monday, March 9th. Citigroup increased their price objective on shares of Evergy from $89.00 to $95.00 and gave the stock a "buy" rating in a report on Friday, February 20th. Weiss Ratings restated a "buy (b-)" rating on shares of Evergy in a research report on Monday, December 29th. Finally, Wall Street Zen raised shares of Evergy from a "sell" rating to a "hold" rating in a research note on Saturday, February 21st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Evergy currently has an average rating of "Moderate Buy" and a consensus target price of $89.30.

Insider Activity

In related news, SVP Heather A. Humphrey sold 3,650 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $82.61, for a total value of $301,526.50. Following the transaction, the senior vice president directly owned 44,007 shares in the company, valued at $3,635,418.27. This represents a 7.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ann D. Murtlow sold 2,847 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $82.34, for a total transaction of $234,421.98. Following the completion of the transaction, the director directly owned 2,311 shares in the company, valued at approximately $190,287.74. The trade was a 55.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 8,937 shares of company stock valued at $736,492. 1.52% of the stock is currently owned by insiders.

Evergy 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.