Mitsubishi UFJ Asset Management Co. Ltd. Buys 26,352 Shares of Evergy Inc. $EVRG

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Evergy Inc. (NASDAQ:EVRG) by 6.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 427,447 shares of the company’s stock after acquiring an additional 26,352 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Evergy were worth $29,464,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Amundi boosted its position in shares of Evergy by 14.2% during the first quarter. Amundi now owns 140,301 shares of the company’s stock worth $9,710,000 after acquiring an additional 17,477 shares during the last quarter. Northern Trust Corp lifted its stake in Evergy by 16.7% in the 1st 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 in the last quarter. Integrity Alliance LLC. bought a new position in shares of Evergy during the 1st quarter valued at about $319,000. Simplicity Wealth LLC purchased a new position in shares of Evergy during the second quarter valued at about $778,000. Finally, Callan Family Office LLC purchased a new position in shares of Evergy during the second quarter valued at about $413,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EVRG. Mizuho increased their price target on Evergy from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Jefferies Financial Group upped their price objective on Evergy from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Evergy in a report on Wednesday, October 8th. Royal Bank Of Canada upgraded shares of Evergy to a “moderate buy” rating in a research report on Tuesday, October 28th. Finally, Barclays reiterated an “outperform” rating on shares of Evergy in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $80.72.

Evergy Trading Up 0.5%

EVRG stock opened at $76.99 on Wednesday. Evergy Inc. has a twelve month low of $59.67 and a twelve month high of $79.32. The stock has a market capitalization of $17.72 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61. The company has a quick ratio of 0.27, a current ratio of 0.50 and a debt-to-equity ratio of 1.24. The firm’s fifty day simple moving average is $75.40 and its two-hundred day simple moving average is $71.21.

Evergy (NASDAQ:EVRG) last released its earnings results on Thursday, November 6th. The company reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.11). Evergy had a return on equity of 8.62% and a net margin of 14.29%.The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the business posted $2.02 EPS. Evergy’s revenue was down .1% compared to the same quarter last year. Evergy has set its FY 2025 guidance at 3.920-4.020 EPS. As a group, analysts anticipate that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, November 21st will be given a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a dividend yield of 3.6%. This is a boost from Evergy’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 21st. Evergy’s dividend payout ratio (DPR) is presently 76.16%.

Insider Activity at Evergy

In other news, SVP Lesley Lissette Elwell sold 8,000 shares of the stock in a transaction that occurred 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 sale, the senior vice president directly owned 499 shares in the company, valued at approximately $36,092.67. This represents a 94.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.42% 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.