State of Alaska Department of Revenue Purchases 39,255 Shares of Evergy Inc. $EVRG

State of Alaska Department of Revenue raised its position in shares of Evergy Inc. (NASDAQ:EVRG) by 91.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82,215 shares of the company’s stock after purchasing an additional 39,255 shares during the quarter. State of Alaska Department of Revenue’s holdings in Evergy were worth $6,448,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Magellan Asset Management Ltd bought a new position in shares of Evergy in the second quarter worth approximately $187,857,000. Legal & General Group Plc bought a new stake in shares of Evergy during the second quarter valued at approximately $138,233,000. Energy Income Partners LLC bought a new stake in shares of Evergy during the second quarter valued at approximately $110,394,000. The Manufacturers Life Insurance Company bought a new stake in shares of Evergy during the second quarter valued at approximately $54,307,000. Finally, Hsbc Holdings PLC purchased a new position in Evergy in the 2nd quarter worth approximately $53,210,000. 87.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EVRG has been the topic of several analyst reports. BTIG Research set a $97.00 price objective on Evergy in a research report on Thursday, July 23rd. Royal Bank Of Canada reissued an “outperform” rating on shares of Evergy in a report on Friday, October 9th. BMO Capital Markets reduced their target price on Evergy from $89.00 to $85.00 and set an “outperform” rating for the company in a report on Tuesday. DA Davidson set a $85.00 price target on Evergy in a research note on Tuesday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Evergy in a report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $89.70.

Insider Buying and Selling

In related news, Director Jonathan Rolph bought 1,640 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was acquired at an average cost of $81.47 per share, for a total transaction of $133,610.80. Following the purchase, the director owned 670 shares in the company, valued at approximately $54,584.90. This represents a -169.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.52% of the company’s stock.

Evergy Stock Performance

Shares of EVRG stock traded up $1.73 during trading hours on Friday, reaching $83.30. The company had a trading volume of 1,907,854 shares, compared to its average volume of 2,278,548. The business has a fifty day moving average price of $81.04 and a 200-day moving average price of $82.69. Evergy Inc. has a one year low of $71.40 and a one year high of $88.62. The firm has a market cap of $19.21 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 2.12 and a beta of 0.50. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.21 and a current ratio of 0.36.

Evergy (NASDAQ:EVRG) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.07. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Evergy had a net margin of 15.19% and a return on equity of 9.20%. During the same period in the previous year, the company earned $0.82 earnings per share. Sell-side analysts predict that Evergy Inc. will post 4.25 earnings per share for the current fiscal year.

Evergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Tuesday, August 18th were given a $0.6950 dividend. This represents a $2.78 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, August 18th. Evergy’s payout ratio is 70.56%.

About Evergy

Evergy, Inc is an investor-owned electric utility holding company that provides electricity generation, transmission, distribution and related services. Through its operating utilities, the company serves residential, commercial, industrial and municipal customers in Kansas and Missouri.

Evergy’s generation portfolio includes nuclear, natural gas, coal, wind and solar resources. The company also operates and maintains electric transmission and distribution infrastructure and has invested in renewable energy and grid modernization initiatives to support reliability and the transition to lower-emission energy sources.

Evergy was formed in 2018 through the merger of Great Plains Energy Incorporated and Westar Energy, Inc Its principal operating utilities include Evergy Kansas Central, Evergy Kansas South, Evergy Missouri Metro and Evergy Missouri West.