UBS Asset Management Americas Inc. Acquires 38,459 Shares of Evergy, Inc. (NYSE:EVRG)

Posted by Defense World Staff on Mar 13th, 2023

UBS Asset Management Americas Inc. grew its holdings in shares of Evergy, Inc. (NYSE:EVRG – Get Rating) by 4.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 824,560 shares of the company’s stock after purchasing an additional 38,459 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.36% of Evergy worth $48,979,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC boosted its position in Evergy by 227.8% during the third quarter. Hexagon Capital Partners LLC now owns 413 shares of the company’s stock worth $25,000 after purchasing an additional 287 shares during the period. Private Trust Co. NA bought a new position in shares of Evergy in the second quarter valued at approximately $28,000. Truvestments Capital LLC bought a new position in shares of Evergy in the second quarter valued at approximately $31,000. CoreCap Advisors LLC bought a new position in shares of Evergy in the second quarter valued at approximately $32,000. Finally, Motco boosted its position in shares of Evergy by 40.1% in the third quarter. Motco now owns 699 shares of the company’s stock valued at $42,000 after acquiring an additional 200 shares during the period. Institutional investors own 83.84% of the company’s stock.

Evergy Trading Down 2.1 %

Shares of EVRG opened at $57.56 on Monday. The firm’s 50 day simple moving average is $61.34 and its 200 day simple moving average is $61.96. The company has a market capitalization of $13.21 billion, a P/E ratio of 15.35, a P/E/G ratio of 3.04 and a beta of 0.48. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.53 and a quick ratio of 0.33. Evergy, Inc. has a 1-year low of $54.12 and a 1-year high of $73.13.

Evergy (NYSE:EVRG – Get Rating) last posted its quarterly earnings results on Friday, February 24th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.22 by $0.08. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $956.63 million. Evergy had a net margin of 12.85% and a return on equity of 9.17%. The business’s revenue was up 14.0% compared to the same quarter last year. During the same period last year, the firm posted $0.16 earnings per share. Sell-side analysts forecast that Evergy, Inc. will post 3.64 earnings per share for the current fiscal year.

Evergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 22nd. Shareholders of record on Thursday, March 9th will be paid a dividend of $0.6125 per share. This represents a $2.45 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend is Wednesday, March 8th. Evergy’s dividend payout ratio (DPR) is presently 75.15%.

Insiders Place Their Bets

In other Evergy news, COO Kevin E. Bryant sold 22,500 shares of Evergy stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $59.81, for a total transaction of $1,345,725.00. Following the transaction, the chief operating officer now directly owns 32,993 shares of the company’s stock, valued at $1,973,311.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on EVRG shares. Seaport Res Ptn lowered shares of Evergy from a “buy” rating to a “neutral” rating in a research report on Monday, November 21st. Bank of America lowered shares of Evergy from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $64.00 to $54.00 in a research report on Wednesday, November 23rd. Credit Suisse Group lowered shares of Evergy from an “outperform” rating to an “underperform” rating and cut their price objective for the company from $61.00 to $57.00 in a research report on Tuesday, November 29th. TheStreet downgraded shares of Evergy from a “b” rating to a “c+” rating in a research note on Thursday, February 23rd. Finally, UBS Group lowered their target price on shares of Evergy to $65.00 in a research note on Monday, November 21st. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $61.20.

About Evergy

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Evergy, Inc is a holding company, which engages in the provision of electricity through its subsidiaries. It focuses on the regulation of electric utilities and development of electric transmission projects. The company was founded in 2017 and is headquartered in Kansas City, MO.