Farmers & Merchants Investments Inc. Raises Holdings in Evergy, Inc. (NASDAQ:EVRG)

Farmers & Merchants Investments Inc. boosted its stake in shares of Evergy, Inc. (NASDAQ:EVRG) by 134.7% in the 4th quarter, Holdings Channel reports. The fund owned 33,401 shares of the company’s stock after buying an additional 19,172 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Evergy were worth $2,056,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new stake in shares of Evergy during the 3rd quarter worth approximately $32,000. Hexagon Capital Partners LLC boosted its holdings in Evergy by 47.1% during the third quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock worth $33,000 after buying an additional 170 shares in the last quarter. Sentry Investment Management LLC acquired a new stake in Evergy during 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 raised its position 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 worth $86,000 after acquiring an additional 966 shares during the period. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on EVRG. Barclays cut their price target on Evergy from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Mizuho assumed coverage on Evergy in a research note on Tuesday, October 29th. They set an “outperform” rating and a $67.00 target price for the company. Wells Fargo & Company increased their target price on 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 raised shares of Evergy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $59.00 to $68.50 in a report on Thursday, January 2nd. Finally, Guggenheim raised shares of Evergy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.36.

Evergy Stock Performance

NASDAQ:EVRG opened at $65.21 on Friday. Evergy, Inc. has a twelve month low of $48.04 and a twelve month high of $65.80. The company has a market cap of $15.00 billion, a P/E ratio of 17.62, a P/E/G ratio of 2.75 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 company’s 50-day moving average price is $62.42 and its 200-day moving average price is $61.25.

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

Insiders Place Their Bets

In related news, EVP Kevin E. Bryant sold 48,141 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were 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 directly owns 1 shares in the company, valued at approximately $62.93. This trade 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 accessible through this link. Corporate insiders own 0.47% of the company’s stock.

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.