Mitsubishi UFJ Trust & Banking Corp Buys 760,301 Shares of Evergy Inc. $EVRG

Mitsubishi UFJ Trust & Banking Corp raised its stake in Evergy Inc. (NASDAQ:EVRG) by 44.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,470,917 shares of the company’s stock after purchasing an additional 760,301 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 1.07% of Evergy worth $170,320,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. LRI Investments LLC acquired a new position in shares of Evergy during the first quarter valued at about $32,000. Clearstead Trust LLC acquired a new stake in Evergy during the first quarter worth about $32,000. Cary Street Partners Investment Advisory LLC bought a new position in Evergy during the first quarter valued at about $34,000. Investment Management Corp VA ADV raised its holdings in Evergy by 168.4% in the 1st quarter. Investment Management Corp VA ADV now owns 569 shares of the company’s stock valued at $39,000 after acquiring an additional 357 shares in the last quarter. Finally, Bfsg LLC raised its holdings in Evergy by 82.2% in the 2nd quarter. Bfsg LLC now owns 665 shares of the company’s stock valued at $46,000 after acquiring an additional 300 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Evergy

In related news, SVP Lesley Lissette Elwell sold 8,000 shares of Evergy stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $72.33, for a total value of $578,640.00. Following the completion of the sale, the senior vice president directly owned 499 shares in the company, valued at $36,092.67. This trade represents a 94.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.42% of the stock is currently owned by corporate insiders.

Evergy Price Performance

Shares of EVRG stock opened at $76.99 on Wednesday. Evergy Inc. has a 1 year low of $59.67 and a 1 year high of $79.32. The company has a current ratio of 0.50, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. The firm’s 50 day moving average is $75.40 and its 200-day moving average is $71.21. The firm has a market capitalization of $17.72 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 3.56 and a beta of 0.61.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings results on Thursday, November 6th. The company reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Evergy had a net margin of 14.29% and a return on equity of 8.62%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the business earned $2.02 EPS. The business’s revenue for the quarter was down .1% on a year-over-year basis. Evergy has set its FY 2025 guidance at 3.920-4.020 EPS. Sell-side analysts forecast that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, November 21st will be paid a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a dividend yield of 3.6%. This is a boost from Evergy’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 21st. Evergy’s payout ratio is currently 76.16%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Mizuho lifted their price objective on Evergy from $74.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Wells Fargo & Company raised shares of Evergy to a “hold” rating in a research note on Tuesday, October 28th. Wall Street Zen upgraded shares of Evergy from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Jefferies Financial Group boosted their target price on Evergy from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Finally, Citigroup raised their price target on Evergy from $79.00 to $89.00 and gave the company a “buy” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Evergy presently has a consensus rating of “Buy” and an average price target of $80.72.

Evergy 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.