Summit Global Investments Trims Stake in Evergy, Inc. (NYSE:EVRG)

Summit Global Investments reduced its holdings in Evergy, Inc. (NYSE:EVRG) by 12.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 115,103 shares of the company’s stock after selling 15,863 shares during the quarter. Summit Global Investments owned 0.05% of Evergy worth $7,138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Verity Asset Management Inc. increased its position in shares of Evergy by 96.5% in the third quarter. Verity Asset Management Inc. now owns 9,399 shares of the company’s stock worth $583,000 after purchasing an additional 4,616 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Evergy by 7.2% in the 3rd quarter. Principal Financial Group Inc. now owns 278,197 shares of the company’s stock worth $17,251,000 after buying an additional 18,595 shares during the last quarter. Harvest Portfolios Group Inc. raised its position in shares of Evergy by 3.3% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 94,911 shares of the company’s stock valued at $5,885,000 after buying an additional 3,045 shares in the last quarter. Sentry Investment Management LLC bought a new stake in shares of Evergy during the 3rd quarter worth $51,000. Finally, Asset Management One Co. Ltd. grew its position in Evergy by 4.2% in the third quarter. Asset Management One Co. Ltd. now owns 94,500 shares of the company’s stock worth $5,860,000 after acquiring an additional 3,810 shares in the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Evergy Trading Up 0.6 %

NYSE:EVRG opened at $61.41 on Friday. The firm has a market capitalization of $14.12 billion, a P/E ratio of 19.13, a P/E/G ratio of 2.66 and a beta of 0.62. The company has a quick ratio of 0.35, a current ratio of 0.59 and a debt-to-equity ratio of 1.23. The company has a fifty day moving average of $60.71 and a 200 day moving average of $57.03. Evergy, Inc. has a 52 week low of $47.97 and a 52 week high of $62.58.

Evergy (NYSE:EVRG) last posted its earnings results on Friday, August 9th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. Evergy had a net margin of 13.12% and a return on equity of 8.50%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the business posted $0.81 earnings per share. On average, research analysts predict that Evergy, Inc. will post 3.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Barclays lowered their price target on Evergy from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Mizuho initiated coverage on Evergy in a research report on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 target price for the company. UBS Group raised Evergy to a “hold” rating in a research note on Wednesday, September 18th. Wells Fargo & Company lifted their price target on shares of Evergy from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group initiated coverage on shares of Evergy in a research note on Thursday, September 19th. They issued a “buy” rating and a $70.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.88.

Insider Buying and Selling at Evergy

In related news, SVP Charles A. Caisley sold 9,236 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total transaction of $550,742.68. Following the completion of the transaction, the senior vice president now owns 33,425 shares in the company, valued at $1,993,132.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Evergy news, Director Ann D. Murtlow sold 3,301 shares of Evergy stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $58.85, for a total transaction of $194,263.85. Following the sale, the director now directly owns 2,847 shares of the company’s stock, valued at approximately $167,545.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Charles A. Caisley sold 9,236 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total value of $550,742.68. Following the completion of the transaction, the senior vice president now directly owns 33,425 shares of the company’s stock, valued at $1,993,132.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,884 shares of company stock valued at $941,810 in the last 90 days. Insiders own 3.26% of the company’s stock.

About Evergy

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.