Meritage Portfolio Management Has $4.64 Million Stake in Evergy, Inc. (NASDAQ:EVRG)

Meritage Portfolio Management cut its holdings in shares of Evergy, Inc. (NASDAQ:EVRG - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,435 shares of the company's stock after selling 4,846 shares during the period. Meritage Portfolio Management's holdings in Evergy were worth $4,643,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. HighTower Advisors LLC increased its stake in Evergy by 391.1% in the 3rd quarter. HighTower Advisors LLC now owns 97,186 shares of the company's stock worth $6,030,000 after purchasing an additional 77,398 shares in the last quarter. Bank of Montreal Can increased its position in shares of Evergy by 29.1% in the third quarter. Bank of Montreal Can now owns 997,832 shares of the company's stock worth $61,806,000 after acquiring an additional 224,679 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Evergy by 34.0% during the third quarter. BNP Paribas Financial Markets now owns 945,148 shares of the company's stock valued at $58,609,000 after acquiring an additional 239,599 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in Evergy by 23.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 10,692 shares of the company's stock worth $658,000 after purchasing an additional 2,004 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in Evergy by 2.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 515,306 shares of the company's stock worth $31,954,000 after purchasing an additional 14,383 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors.

Insider Activity at Evergy

In other news, EVP Kevin E. Bryant sold 48,141 shares of Evergy 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 sale, the executive vice president now owns 1 shares of the company's stock, valued at approximately $62.93. This trade represents a 100.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

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

Evergy Stock Down 0.5 %

Shares of Evergy stock traded down $0.31 during midday trading on Friday, reaching $65.21. 1,044,561 shares of the company's stock traded hands, compared to its average volume of 1,744,046. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. Evergy, Inc. has a 52 week low of $48.04 and a 52 week high of $65.80. The company's 50 day simple moving average is $62.42 and its 200 day simple moving average is $61.25. The company has a market cap of $15.00 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 2.75 and a beta of 0.66.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $2.02 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter in the previous year, the firm earned $1.88 earnings per share. The business's quarterly revenue was up 8.5% compared to the same quarter last year. Equities analysts expect that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Profile

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.