Evergy, Inc. (NASDAQ:EVRG) Shares Bought by Spirit of America Management Corp NY

Spirit of America Management Corp NY boosted its holdings in shares of Evergy, Inc. (NASDAQ:EVRG) by 63.6% in the fourth quarter, HoldingsChannel reports. The firm owned 8,100 shares of the company’s stock after buying an additional 3,150 shares during the period. Spirit of America Management Corp NY’s holdings in Evergy were worth $499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new position in Evergy in the third quarter valued at $32,000. Hexagon Capital Partners LLC increased its holdings in Evergy by 47.1% in the third quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock valued at $33,000 after buying an additional 170 shares in the last quarter. Sentry Investment Management LLC purchased a new position in Evergy in the third quarter valued at $51,000. USA Financial Formulas purchased a new position in Evergy in the fourth quarter valued at $73,000. Finally, Venturi Wealth Management LLC increased its holdings in Evergy by 230.0% in the third quarter. Venturi Wealth Management LLC now owns 1,386 shares of the company’s stock valued at $86,000 after buying an additional 966 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EVRG has been the topic of several research analyst reports. Barclays dropped their target price on shares of Evergy from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Guggenheim upgraded shares of Evergy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Wells Fargo & Company upped their price objective on shares of Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Mizuho started coverage on Evergy in a report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 target price on the stock. Finally, LADENBURG THALM/SH SH raised Evergy from a “neutral” rating to a “buy” rating and increased their price target for the company from $59.00 to $68.50 in a report on Thursday, January 2nd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.36.

Evergy Price Performance

EVRG opened at $64.31 on Wednesday. The firm has a market cap of $14.79 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 2.69 and a beta of 0.66. The company has a current ratio of 0.55, a quick ratio of 0.32 and a debt-to-equity ratio of 1.15. The stock’s 50-day moving average price is $62.40 and its 200 day moving average price is $61.08. Evergy, Inc. has a 12-month low of $48.04 and a 12-month high of $65.47.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings results on Thursday, November 7th. The company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.07. Evergy had a return on equity of 8.77% and a net margin of 14.77%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the company earned $1.88 EPS. Evergy’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, sell-side analysts expect that Evergy, Inc. will post 3.84 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Kevin E. Bryant sold 48,141 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total transaction of $3,029,513.13. Following the completion of the sale, the executive vice president now owns 1 shares in the company, valued at $62.93. This represents a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.26% of the stock is owned by company insiders.

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.