Harvest Portfolios Group Inc. Buys 10,778 Shares of Evergy Inc. $EVRG

Harvest Portfolios Group Inc. boosted its stake in Evergy Inc. (NASDAQ:EVRG) by 9.4% during the third quarter, Holdings Channel reports. The institutional investor owned 125,569 shares of the company’s stock after buying an additional 10,778 shares during the period. Harvest Portfolios Group Inc.’s holdings in Evergy were worth $9,546,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of EVRG. Magellan Asset Management Ltd boosted its holdings in shares of Evergy by 1,418.7% during the second quarter. Magellan Asset Management Ltd now owns 2,364,493 shares of the company’s stock worth $162,985,000 after acquiring an additional 2,208,799 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Evergy by 346.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,046,787 shares of the company’s stock worth $155,597,000 after purchasing an additional 1,588,100 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Evergy by 969.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,329,424 shares of the company’s stock valued at $101,063,000 after purchasing an additional 1,205,101 shares during the period. ANTIPODES PARTNERS Ltd acquired a new position in Evergy in the 3rd quarter valued at $72,860,000. Finally, Truist Financial Corp increased its position in Evergy by 169.2% during the 3rd quarter. Truist Financial Corp now owns 1,438,958 shares of the company’s stock worth $109,390,000 after buying an additional 904,400 shares during the period. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Evergy Stock Performance

NASDAQ EVRG opened at $83.66 on Friday. The firm’s 50 day simple moving average is $76.67 and its 200 day simple moving average is $75.41. The firm has a market capitalization of $19.27 billion, a price-to-earnings ratio of 22.80, a P/E/G ratio of 3.29 and a beta of 0.66. The company has a current ratio of 0.49, a quick ratio of 0.27 and a debt-to-equity ratio of 1.27. Evergy Inc. has a 1 year low of $61.94 and a 1 year high of $84.08.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data on Saturday, January 31st. The company reported $0.42 EPS for the quarter. Evergy had a net margin of 14.35% and a return on equity of 8.79%. As a group, research analysts expect that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Tuesday, March 10th will be given a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, March 10th. Evergy’s dividend payout ratio is currently 75.75%.

Wall Street Analyst Weigh In

EVRG has been the subject of a number of recent research reports. Citigroup boosted their target price on shares of Evergy from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Royal Bank Of Canada reissued an “outperform” rating and issued a $91.00 price objective on shares of Evergy in a report on Friday, January 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Evergy in a report on Monday, December 29th. Mizuho set a $82.00 price target on shares of Evergy in a research report on Monday. Finally, Wells Fargo & Company increased their price target on Evergy from $79.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.88.

Evergy Company Profile

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.