Atlantic Union Bankshares Corp Buys New Shares in Evergy Inc. $EVRG

Atlantic Union Bankshares Corp purchased a new position in shares of Evergy Inc. (NASDAQ:EVRG) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 9,578 shares of the company’s stock, valued at approximately $728,000.

A number of other hedge funds also recently made changes to their positions in the stock. Simplicity Wealth LLC purchased a new stake in shares of Evergy in the second quarter worth about $778,000. Synergy Asset Management LLC lifted its position in Evergy by 100.0% during 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 purchased a new position in Evergy in the 2nd quarter worth approximately $1,399,000. Davis Capital Management acquired a new stake in Evergy in the third quarter valued at approximately $1,379,000. Finally, iA Global Asset Management Inc. grew its position in Evergy by 207.0% in the third quarter. iA Global Asset Management Inc. now owns 22,624 shares of the company’s stock valued at $1,720,000 after acquiring an additional 15,254 shares in the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Price Performance

Shares of EVRG stock opened at $77.23 on Thursday. The firm has a fifty day moving average of $74.46 and a two-hundred day moving average of $74.29. The firm has a market cap of $17.78 billion, a P/E ratio of 21.16, a P/E/G ratio of 3.14 and a beta of 0.66. Evergy Inc. has a 1-year low of $61.94 and a 1-year high of $79.32. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.52 and a quick ratio of 0.30.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EVRG. Royal Bank Of Canada reissued an “outperform” rating and set a $91.00 target price on shares of Evergy in a research report on Friday, January 23rd. Barclays boosted their price objective on shares of Evergy from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, January 22nd. Wells Fargo & Company raised their target price on Evergy from $77.00 to $79.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 20th. BMO Capital Markets lifted their target price on Evergy from $79.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Evergy in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Evergy currently has an average rating of “Moderate Buy” and an average target price 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.