Evergy, Inc. (NASDAQ:EVRG) Shares Bought by Jennison Associates LLC

Jennison Associates LLC lifted its position in Evergy, Inc. (NASDAQ:EVRG) by 10.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,556,580 shares of the company’s stock after buying an additional 151,970 shares during the period. Jennison Associates LLC owned approximately 0.68% of Evergy worth $95,807,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of EVRG. Truvestments Capital LLC acquired a new stake in Evergy in the 3rd quarter valued at about $32,000. Hexagon Capital Partners LLC lifted its stake in Evergy by 47.1% during the third quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock valued at $33,000 after purchasing an additional 170 shares during the last quarter. Sentry Investment Management LLC bought a new stake in Evergy during the third quarter worth approximately $51,000. USA Financial Formulas acquired a new position in Evergy in the fourth quarter worth approximately $73,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of 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. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Stock Performance

EVRG stock opened at $64.87 on Tuesday. The firm has a 50 day simple moving average of $62.41 and a 200 day simple moving average of $61.02. Evergy, Inc. has a 52 week low of $48.04 and a 52 week high of $65.47. The stock has a market cap of $14.92 billion, a P/E ratio of 17.53, a P/E/G ratio of 2.69 and a beta of 0.64. 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 (NASDAQ:EVRG) last issued its 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 net margin of 14.77% and a return on equity of 8.77%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the business posted $1.88 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Research analysts anticipate that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EVRG. Guggenheim upgraded Evergy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. LADENBURG THALM/SH SH upgraded Evergy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $59.00 to $68.50 in a report on Thursday, January 2nd. 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 shares of Evergy in a research report on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 target price on the stock. Finally, Barclays reduced their price target on shares of Evergy from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.36.

Insiders Place Their Bets

In related news, EVP Kevin E. Bryant sold 48,141 shares of the business’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 value of $3,029,513.13. Following the completion of the sale, the executive vice president now owns 1 shares of the company’s stock, valued at approximately $62.93. The trade was a 100.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.47% 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.