The Vanguard Group, Inc. recently announced the acquisition of new stake in Evergy Inc. (NYSE:EVRG). The institutional investor has increased its shareholding in the Utilities company by 0.21% to 29.81 million shares with purchase of 61838.0 shares. This fresh investment now brings its stake to 13.15% valued currently at $1.77 billion. In addition, Renaissance Technologies LLC raised its holdings by 1.36 million to 7.35 million shares. And Fidelity Management & Research Co. has lifted its position by 39.66% or 1.37 million shares – to 4.84 million shares.
With over 1.36 million Evergy Inc. (EVRG) shares trading Friday and a closing price of $63.98 on the day, the dollar volume was approximately $87.08 million. The shares have shown a positive weekly performance of 2.11% and its price on 07/24/20 lost nearly -0.12%. Currently, there are 227.10M common shares owned by the public and among those 226.12M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for EVRG have a consensus price objective of $66.17. The analysts have set the share’s price value over the next 12 months at a high of $69.00 and a low of $62.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Evergy Inc. stock is 1.80 for the next 12 months. The average price target is 2.07% above its last price level and an upside to the estimated low will see the stock lose -3.19% over that period. But an upside of 7.28% will see the stock hit the forecast high price target while mean target price for the stock is $67.00.
Insiders at the company have transacted a total of 73 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 166,558 shares. Insider sales of the common stock occurred on 45 occasions, with total insider shares sold totaling 110,690 shares.
The top 3 mutual fund holders in Evergy Inc. are Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 6.47 million shares of the company’s stock, all valued at over $383.82 million. The company sold 84606.0 shares recently to bring their total holdings to about 2.86% of the shares outstanding. Vanguard Mid Cap Index Fund sold -0.34 million shares to see its total holdings shrink to 5.6 million shares valued at over $332.27 million and representing 2.47% of the shares outstanding. Vanguard 500 Index Fund bought 48894.0 shares to bring its total holdings to over 4.7 million shares at a value of $278.86 million. Vanguard 500 Index Fund now owns shares totaling to 2.07% of the shares outstanding.
Shares of Evergy Inc. (NYSE: EVRG) opened at $64.50, up $0.44 from a prior closing price of $64.06. However, the script later closed the day at $63.98, down -0.12%. The company’s stock has a 5-day price change of 2.11% and 7.96% over the past three months. EVRG shares are trading -1.71% year to date (YTD), with the 12-month market performance up to 5.37% higher. It has a 12-month low price of $42.01 and touched a high of $76.57 over the same period. Currently, 1.36 million shares have been traded, compared to an average intraday trading volume of 2.51 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.73%, 4.86%, and 1.96% respectively.
Institutional ownership of Evergy Inc. (NYSE: EVRG) shares accounts for 85.80% of the company’s 227.10M shares outstanding. Mutual fund holders own 39.88%, while other institutional holders and individual stakeholders account for 43.78% and 0.30% respectively.
It has a market capitalization of $14.58B and a beta (3y monthly) value of 0.49. The stock’s trailing 12-month PE ratio is 23.52, while the earnings-per-share (ttm) stands at $2.72. The company has a PEG of 6.03 and a Quick Ratio of 0.50 with the debt-to-equity ratio at 1.22. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.37% over the week and 2.31% over the month.
Analysts forecast that Evergy Inc. (EVRG) will achieve an EPS of $0.68 for the current quarter, $1.65 for the next quarter and $3.22 for 2021. The lowest estimate earnings-per-share for the quarter is $0.63 while analysts give the company a high EPS estimate of $0.71. Comparatively, EPS for the current quarter was $0.58 a year ago. Earnings per share for the fiscal year are expected to increase by 11.60%, and 5.54% over the next financial year. EPS should grow at an annualized rate of 3.90% over the next five years, compared to 3.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Evergy Inc. (EVRG) as a “Strong Buy” at a consensus score of 1.80. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 2 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the EVRG, a number of firms have released research notes about the stock. Evercore ISI stated their Outperform rating for the stock in a research note on June 04, 2020, with the firm’s price target at $69. BofA/Merrill coverage for the Evergy Inc. (EVRG) stock in a research note released on March 03, 2020 offered a Buy rating with a price target of. Evercore ISI was of a view on November 25, 2019 that the stock is In-line, while BofA/Merrill gave the stock Underperform rating on November 20, 2019, issuing a price target of. BofA/Merrill on their part issued Neutral rating on October 10, 2019.