Evergy Inc. $EVRG Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Evergy Inc. (NASDAQ:EVRG) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 508,180 shares of the company’s stock after selling 13,803 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Evergy worth $39,862,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Magellan Asset Management Ltd purchased a new stake in shares of Evergy in the second quarter valued at about $187,857,000. Legal & General Group Plc purchased a new stake in Evergy in the 2nd quarter valued at approximately $138,233,000. Energy Income Partners LLC acquired a new position in Evergy during the 2nd quarter worth approximately $110,394,000. The Manufacturers Life Insurance Company acquired a new position in Evergy during the 2nd quarter worth approximately $54,307,000. Finally, Hsbc Holdings PLC acquired a new position in Evergy during the 2nd quarter worth approximately $53,210,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Evergy Price Performance

Evergy stock opened at $86.21 on Thursday. The stock has a market capitalization of $19.88 billion, a P/E ratio of 21.88, a P/E/G ratio of 2.21 and a beta of 0.49. Evergy Inc. has a 12-month low of $71.40 and a 12-month high of $88.62. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.36 and a quick ratio of 0.21. The firm’s 50-day moving average is $81.57 and its two-hundred day moving average is $82.15.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.07. Evergy had a net margin of 15.19% and a return on equity of 9.20%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Equities analysts predict that Evergy Inc. will post 4.27 earnings per share for the current year.

Insider Buying and Selling at Evergy

In related news, Director Jonathan Rolph bought 1,640 shares of the stock in a transaction dated Friday, September 11th. The stock was acquired at an average price of $81.47 per share, for a total transaction of $133,610.80. Following the completion of the purchase, the director owned 670 shares in the company, valued at $54,584.90. This represents a -169.07% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.52% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. HSBC began coverage on Evergy in a research note on Thursday, October 22nd. They set a “buy” rating and a $92.00 target price for the company. BMO Capital Markets dropped their price objective on Evergy from $89.00 to $85.00 and set an “outperform” rating on the stock in a report on Tuesday, October 13th. Citigroup increased their price objective on Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. DA Davidson set a $85.00 target price on Evergy in a report on Tuesday, October 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Evergy in a research note on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Evergy currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.00.

Evergy Profile

Evergy, Inc is an investor-owned electric utility that generates, transmits, distributes and sells electricity to residential, commercial, industrial and municipal customers. The company operates regulated utilities in Kansas and Missouri, providing electric service through its Kansas Central, Kansas South, Missouri Metro and Missouri West operations.

Evergy’s generation portfolio includes wind, solar, coal, natural gas and nuclear power. The company also owns an interest in the Wolf Creek Generating Station, a nuclear power plant in Kansas, and continues to invest in renewable energy, grid modernization and other infrastructure intended to support reliable electricity service.

Evergy was formed in 2018 through the merger of Westar Energy and Great Plains Energy, the parent company of Kansas City Power & Light.