Kingsview Wealth Management LLC Invests $246,000 in Evergy Inc. $EVRG

Kingsview Wealth Management LLC purchased a new stake in shares of Evergy Inc. (NASDAQ:EVRG) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 3,569 shares of the company’s stock, valued at approximately $246,000.

Several other large investors have also made changes to their positions in the company. Nuveen LLC bought a new position in Evergy during the first quarter valued at approximately $212,132,000. Magellan Asset Management Ltd increased its stake in shares of Evergy by 1,418.7% during the 2nd quarter. Magellan Asset Management Ltd now owns 2,364,493 shares of the company’s stock worth $162,985,000 after purchasing an additional 2,208,799 shares during the last quarter. Maple Brown Abbott Ltd acquired a new position in shares of Evergy during the 1st quarter worth $63,444,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Evergy by 44.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,470,917 shares of the company’s stock valued at $170,320,000 after purchasing an additional 760,301 shares in the last quarter. Finally, Truist Financial Corp lifted its stake in shares of Evergy by 2,959.7% in the 2nd quarter. Truist Financial Corp now owns 534,558 shares of the company’s stock valued at $36,847,000 after purchasing an additional 517,087 shares during the last quarter. Institutional investors own 87.24% of the company’s stock.

Evergy Trading Up 0.2%

Evergy stock opened at $75.85 on Friday. Evergy Inc. has a 52 week low of $59.67 and a 52 week high of $79.32. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.50. The firm has a market capitalization of $17.46 billion, a PE ratio of 20.84, a PEG ratio of 3.56 and a beta of 0.61. The business’s 50-day simple moving average is $76.17 and its 200-day simple moving average is $71.61.

Evergy (NASDAQ:EVRG) last announced its earnings results on Wednesday, November 5th. The company reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.11). The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $2.24 billion. Evergy had a net margin of 14.29% and a return on equity of 8.62%. Evergy’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.02 EPS. Equities research analysts forecast that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, November 21st will be paid a $0.695 dividend. The ex-dividend date is Friday, November 21st. This is a positive change from Evergy’s previous quarterly dividend of $0.67. This represents a $2.78 annualized dividend and a dividend yield of 3.7%. Evergy’s dividend payout ratio is 76.16%.

Insider Transactions at Evergy

In related news, SVP Lesley Lissette Elwell sold 8,000 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $72.33, for a total transaction of $578,640.00. Following the transaction, the senior vice president owned 499 shares of the company’s stock, valued at approximately $36,092.67. The trade was a 94.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EVRG. Citigroup upped their price objective on shares of Evergy from $79.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Wall Street Zen raised Evergy from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Jefferies Financial Group increased their price objective on Evergy from $77.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Wells Fargo & Company raised Evergy to a “hold” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Evergy in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $80.72.

Evergy Company Profile

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in the United States. The company generates electricity through coal, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources. It serves residences, commercial firms, industrials, municipalities, and other electric utilities.