SouthState Corp Takes Position in Evergy, Inc. (NYSE:EVRG)

SouthState Corp acquired a new stake in shares of Evergy, Inc. (NYSE:EVRG – Get Rating) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,500 shares of the company’s stock, valued at approximately $103,000.

A number of other institutional investors and hedge funds also recently modified their holdings of EVRG. Toronto Dominion Bank lifted its holdings in shares of Evergy by 44.2% in the fourth quarter. Toronto Dominion Bank now owns 134,271 shares of the company’s stock valued at $9,212,000 after purchasing an additional 41,132 shares in the last quarter. Bridgewater Associates LP purchased a new stake in shares of Evergy in the fourth quarter valued at $858,000. Oppenheimer & Co. Inc. lifted its holdings in shares of Evergy by 18.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 103,421 shares of the company’s stock valued at $7,096,000 after purchasing an additional 16,322 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Evergy by 2.2% in the first quarter. Mutual of America Capital Management LLC now owns 89,991 shares of the company’s stock valued at $6,150,000 after purchasing an additional 1,930 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Evergy by 4.4% in the fourth quarter. CIBC Asset Management Inc now owns 21,650 shares of the company’s stock valued at $1,485,000 after purchasing an additional 911 shares in the last quarter. Institutional investors and hedge funds own 87.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Credit Suisse Group assumed coverage on Evergy in a report on Monday, April 25th. They issued an “outperform” rating and a $76.00 target price for the company. UBS Group lowered Evergy from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $78.00 to $70.00 in a report on Thursday, June 30th. Finally, Wells Fargo & Company increased their price objective on Evergy from $67.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 19th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $71.33.

Insiders Place Their Bets

In other Evergy news, Director Sandra Aj Lawrence sold 500 shares of the stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $69.48, for a total transaction of $34,740.00. Following the transaction, the director now directly owns 1,680 shares of the company’s stock, valued at $116,726.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 1,657 shares of company stock valued at $112,987 over the last three months. 0.47% of the stock is currently owned by insiders.

Evergy Price Performance

Shares of NYSE:EVRG opened at $67.83 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.33 and a debt-to-equity ratio of 0.99. Evergy, Inc. has a 1 year low of $59.34 and a 1 year high of $73.13. The business has a fifty day simple moving average of $65.59 and a 200 day simple moving average of $66.01. The firm has a market cap of $15.57 billion, a price-to-earnings ratio of 19.11, a P/E/G ratio of 3.78 and a beta of 0.49.

Evergy (NYSE:EVRG – Get Rating) last posted its earnings results on Thursday, August 4th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.23 billion. Evergy had a net margin of 15.16% and a return on equity of 8.89%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 earnings per share. As a group, sell-side analysts predict that Evergy, Inc. will post 3.53 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 20th. Shareholders of record on Friday, August 19th will be given a dividend of $0.5725 per share. This represents a $2.29 annualized dividend and a yield of 3.38%. The ex-dividend date is Thursday, August 18th. Evergy’s payout ratio is 64.51%.

Evergy Company Profile

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Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Kansas and Missouri, the United States. It generates electricity through coal, hydroelectric, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources.