Mercer Global Advisors Inc. ADV Raises Position in Evergy, Inc. (NYSE:EVRG)

Posted by Defense World Staff on May 15th, 2023

Mercer Global Advisors Inc. ADV increased its stake in Evergy, Inc. (NYSE:EVRG – Get Rating) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,400 shares of the company’s stock after acquiring an additional 619 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Evergy were worth $3,801,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of EVRG. Raleigh Capital Management Inc. boosted its holdings in shares of Evergy by 3.3% during the fourth quarter. Raleigh Capital Management Inc. now owns 5,287 shares of the company’s stock worth $333,000 after purchasing an additional 168 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Evergy by 1.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 14,198 shares of the company’s stock worth $969,000 after purchasing an additional 179 shares during the period. Czech National Bank raised its stake in Evergy by 0.7% in the fourth quarter. Czech National Bank now owns 26,867 shares of the company’s stock worth $1,691,000 after buying an additional 193 shares in the last quarter. Motco raised its stake in Evergy by 40.1% in the third quarter. Motco now owns 699 shares of the company’s stock worth $42,000 after buying an additional 200 shares in the last quarter. Finally, Utah Retirement Systems boosted its position in shares of Evergy by 0.5% during the third quarter. Utah Retirement Systems now owns 39,827 shares of the company’s stock valued at $2,366,000 after purchasing an additional 200 shares in the last quarter. 83.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Bank of America increased their price target on shares of Evergy from $55.00 to $59.00 and gave the stock an “underperform” rating in a research note on Friday, April 14th. Wells Fargo & Company lowered their price objective on Evergy from $69.00 to $66.00 and set an “equal weight” rating for the company in a research note on Monday, January 30th. Finally, TheStreet downgraded Evergy from a “b” rating to a “c+” rating in a report on Thursday, February 23rd. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $62.20.

Evergy Stock Performance

EVRG opened at $62.37 on Monday. The firm has a market cap of $14.33 billion, a P/E ratio of 18.62, a PEG ratio of 3.32 and a beta of 0.50. Evergy, Inc. has a 1-year low of $54.12 and a 1-year high of $71.58. The company has a 50 day simple moving average of $61.10 and a two-hundred day simple moving average of $61.17. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.52 and a quick ratio of 0.31.

Evergy (NYSE:EVRG – Get Rating) last announced its quarterly earnings data on Friday, May 5th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. Evergy had a return on equity of 9.13% and a net margin of 13.03%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the business earned $0.58 earnings per share. Equities analysts forecast that Evergy, Inc. will post 3.6 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Friday, May 19th will be issued a $0.6125 dividend. The ex-dividend date is Thursday, May 18th. This represents a $2.45 dividend on an annualized basis and a yield of 3.93%. Evergy’s dividend payout ratio is currently 73.13%.

Insider Buying and Selling at Evergy

In other news, COO Kevin E. Bryant sold 22,500 shares of the firm’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $59.81, for a total transaction of $1,345,725.00. Following the completion of the transaction, the chief operating officer now owns 32,993 shares in the company, valued at $1,973,311.33. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.08% of the stock is currently owned by insiders.

Evergy Company Profile

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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.

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Institutional Ownership by Quarter for Evergy (NYSE:EVRG)

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