State of Michigan Retirement System Buys 700 Shares of Evergy Inc. $EVRG

State of Michigan Retirement System boosted its stake in shares of Evergy Inc. (NASDAQ:EVRG) by 1.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,381 shares of the company’s stock after purchasing an additional 700 shares during the quarter. State of Michigan Retirement System’s holdings in Evergy were worth $4,851,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Nuveen LLC bought a new stake in Evergy during the first quarter worth approximately $212,132,000. Northern Trust Corp boosted its position in Evergy by 16.7% during the first quarter. Northern Trust Corp now owns 2,737,480 shares of the company’s stock worth $188,749,000 after purchasing an additional 392,361 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Evergy by 0.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,174,047 shares of the company’s stock worth $149,901,000 after purchasing an additional 13,555 shares during the period. Jennison Associates LLC boosted its position in Evergy by 11.2% during the first quarter. Jennison Associates LLC now owns 1,730,849 shares of the company’s stock worth $119,342,000 after purchasing an additional 174,269 shares during the period. Finally, AQR Capital Management LLC boosted its position in Evergy by 27.7% during the first quarter. AQR Capital Management LLC now owns 1,482,508 shares of the company’s stock worth $101,715,000 after purchasing an additional 321,406 shares during the period. Institutional investors own 87.24% of the company’s stock.

Wall Street Analysts Forecast Growth

EVRG has been the subject of a number of recent analyst reports. Mizuho upped their target price on Evergy from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Barclays reissued an “outperform” rating on shares of Evergy in a research report on Thursday, October 9th. Wall Street Zen raised Evergy from a “sell” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group increased their price objective on Evergy from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Finally, Wells Fargo & Company raised Evergy to a “hold” rating in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $79.61.

Insider Buying and Selling

In related news, SVP Lesley Lissette Elwell sold 8,000 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president directly owned 499 shares of the company’s stock, 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 is available through this hyperlink. 1.42% of the stock is currently owned by company insiders.

Evergy Stock Down 0.3%

Shares of EVRG stock opened at $77.04 on Wednesday. The stock has a market cap of $17.73 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 3.56 and a beta of 0.57. Evergy Inc. has a one year low of $59.33 and a one year high of $79.32. The stock has a fifty day moving average price of $74.91 and a 200 day moving average price of $70.92. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.50 and a quick ratio of 0.27.

Evergy (NASDAQ:EVRG) last issued its earnings results on Thursday, August 7th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.78 by $0.04. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Evergy had a return on equity of 8.62% and a net margin of 14.29%.Evergy’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the business earned $0.90 earnings per share. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. Analysts predict that Evergy Inc. will post 3.83 earnings per share for the current year.

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.