Korea Investment CORP Sells 53,745 Shares of Evergy Inc. $EVRG

Korea Investment CORP lowered its position in Evergy Inc. (NASDAQ:EVRG) by 15.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 290,604 shares of the company’s stock after selling 53,745 shares during the period. Korea Investment CORP’s holdings in Evergy were worth $22,092,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Evergy by 1.7% during the second quarter. Vanguard Group Inc. now owns 30,966,777 shares of the company’s stock worth $2,134,540,000 after purchasing an additional 521,310 shares during the last quarter. Geode Capital Management LLC increased its stake in Evergy by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 6,257,857 shares of the company’s stock valued at $429,677,000 after buying an additional 170,953 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Evergy by 2.1% during the 2nd quarter. Franklin Resources Inc. now owns 5,807,034 shares of the company’s stock worth $400,279,000 after buying an additional 118,124 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Evergy by 0.5% during the 3rd quarter. Federated Hermes Inc. now owns 3,702,734 shares of the company’s stock worth $281,482,000 after buying an additional 17,592 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Evergy by 44.4% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,470,917 shares of the company’s stock worth $170,320,000 after buying an additional 760,301 shares during the last quarter. 87.24% of the stock is owned by institutional investors.

Evergy Price Performance

NASDAQ EVRG opened at $81.93 on Wednesday. The company has a quick ratio of 0.27, a current ratio of 0.49 and a debt-to-equity ratio of 1.27. The company has a market cap of $18.87 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 3.30 and a beta of 0.65. Evergy Inc. has a 52 week low of $61.94 and a 52 week high of $85.23. The firm’s 50-day simple moving average is $78.16 and its two-hundred day simple moving average is $75.99.

Evergy (NASDAQ:EVRG) last posted its earnings results on Saturday, January 31st. The company reported $0.42 earnings per share for the quarter. Evergy had a net margin of 14.35% and a return on equity of 8.79%. Research analysts predict that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Dividend Announcement

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

Insider Transactions at Evergy

In other Evergy news, Director Ann D. Murtlow sold 2,847 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $82.34, for a total transaction of $234,421.98. Following the sale, the director owned 2,311 shares in the company, valued at $190,287.74. This represents a 55.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.42% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

EVRG has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Evergy from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Royal Bank Of Canada reissued an “outperform” rating and issued a $91.00 price target on shares of Evergy in a report on Friday, January 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Evergy in a report on Monday, December 29th. Mizuho set a $82.00 price objective on shares of Evergy in a report on Monday, February 23rd. Finally, UBS Group lowered shares of Evergy from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $86.00 to $88.00 in a research report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.75.

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.