Evergy (EVRG) Stake Lessened by Chemical Bank
Chemical Bank reduced its position in shares of Evergy (NASDAQ:EVRG) by 34.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 6,497 shares of the company’s stock after selling 3,354 shares during the period. Chemical Bank’s holdings in Evergy were worth $356,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in Evergy in the 2nd quarter valued at about $4,579,000. Commonwealth Bank of Australia purchased a new position in Evergy in the 2nd quarter valued at about $337,943,000. Northwestern Mutual Wealth Management Co. purchased a new position in Evergy in the 2nd quarter valued at about $176,000. Summit Trail Advisors LLC purchased a new position in Evergy in the 2nd quarter valued at about $127,000. Finally, Morgan Stanley purchased a new position in Evergy in the 2nd quarter valued at about $63,235,000.
A number of research analysts recently weighed in on EVRG shares. UBS Group decreased their price target on shares of Evergy from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Friday, September 21st. Wells Fargo & Co set a $62.00 price target on shares of Evergy and gave the company a “buy” rating in a research note on Friday, October 5th. Finally, Zacks Investment Research raised shares of Evergy from a “hold” rating to a “strong-buy” rating and set a $65.00 price target on the stock in a research note on Wednesday, October 10th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Evergy currently has an average rating of “Buy” and an average price target of $60.80.
Evergy (NASDAQ:EVRG) last issued its quarterly earnings results on Thursday, November 8th. The company reported $1.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.06. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.67 billion. The company’s quarterly revenue was up 99.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.11 earnings per share.
In other Evergy news, SVP Jerl L. Banning sold 8,770 shares of the stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $57.75, for a total value of $506,467.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Ruelle sold 52,250 shares of the stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $57.58, for a total transaction of $3,008,555.00. The disclosure for this sale can be found here. Insiders sold a total of 107,620 shares of company stock worth $6,193,864 over the last ninety days.
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Westar Energy, Inc engages in the generation, transmission and distribution of electricity in Kansas. It provides electricity to residential, commercial, and industrial customers in the cities of Topeka, Lawrence, Manhattan, Salina, and Hutchinson. The company was founded in 1924 and is headquartered in Topeka, KS.
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