Truist Financial Corp Acquires 904,400 Shares of Evergy Inc. $EVRG

Truist Financial Corp boosted its holdings in Evergy Inc. (NASDAQ:EVRG) by 169.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,438,958 shares of the company’s stock after acquiring an additional 904,400 shares during the quarter. Truist Financial Corp owned 0.63% of Evergy worth $109,390,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Simplicity Wealth LLC bought a new stake in Evergy during the second quarter worth about $778,000. Synergy Asset Management LLC boosted its holdings in shares of Evergy by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 148,940 shares of the company’s stock worth $11,322,000 after acquiring an additional 74,470 shares in the last quarter. Leo Wealth LLC bought a new stake in Evergy during the 2nd quarter worth approximately $1,399,000. Davis Capital Management bought a new stake in Evergy during the 3rd quarter worth approximately $1,379,000. Finally, Callan Family Office LLC acquired a new stake in Evergy during the 2nd quarter valued at $413,000. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Price Performance

Evergy stock opened at $76.65 on Thursday. The business’s 50-day simple moving average is $74.42 and its 200 day simple moving average is $73.99. The company has a quick ratio of 0.30, a current ratio of 0.52 and a debt-to-equity ratio of 1.20. The stock has a market cap of $17.65 billion, a price-to-earnings ratio of 21.00, a P/E/G ratio of 3.11 and a beta of 0.67. Evergy Inc. has a 12-month low of $61.94 and a 12-month high of $79.32.

Evergy (NASDAQ:EVRG) last released its earnings results on Wednesday, November 5th. The company reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $2.24 billion. Evergy had a net margin of 14.45% and a return on equity of 8.66%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.02 earnings per share. As a group, research analysts anticipate that Evergy Inc. will post 3.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EVRG. Jefferies Financial Group boosted their price objective on Evergy from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Wall Street Zen downgraded shares of Evergy from a “hold” rating to a “sell” rating in a research report on Monday, December 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Evergy in a report on Monday, December 29th. BMO Capital Markets boosted their target price on shares of Evergy from $79.00 to $82.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, UBS Group upped their target price on shares of Evergy from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $83.63.

About Evergy

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.