Evergy, Inc. (NASDAQ:EVRG) Stake Trimmed by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its stake in shares of Evergy, Inc. (NASDAQ:EVRG) by 15.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,431 shares of the company’s stock after selling 3,771 shares during the period. Janus Henderson Group PLC’s holdings in Evergy were worth $1,267,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its stake in Evergy by 21.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 19,944 shares of the company’s stock worth $1,056,000 after purchasing an additional 3,550 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Evergy by 3.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 14,778 shares of the company’s stock valued at $783,000 after purchasing an additional 541 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Evergy by 16.3% in the second quarter. Blue Trust Inc. now owns 1,483 shares of the company’s stock worth $79,000 after buying an additional 208 shares during the period. Brookstone Capital Management grew its holdings in shares of Evergy by 12.2% during the second quarter. Brookstone Capital Management now owns 26,870 shares of the company’s stock valued at $1,485,000 after buying an additional 2,925 shares in the last quarter. Finally, Raymond James & Associates raised its position in Evergy by 2.0% during the second quarter. Raymond James & Associates now owns 52,348 shares of the company’s stock valued at $2,773,000 after buying an additional 1,037 shares during the period. 87.24% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Evergy news, EVP Kevin E. Bryant sold 48,141 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were 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 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 SEC, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

Evergy Price Performance

NASDAQ:EVRG opened at $61.91 on Friday. The company has a market cap of $14.24 billion, a P/E ratio of 16.73, a P/E/G ratio of 2.77 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, Inc. has a 52-week low of $48.04 and a 52-week high of $65.47. The stock’s 50-day simple moving average is $62.08 and its 200 day simple moving average is $58.75.

Evergy (NASDAQ:EVRG) last posted its earnings results on Thursday, November 7th. The company reported $2.02 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $2.35 billion. During the same quarter last year, the company posted $1.88 EPS. Evergy’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Evergy, Inc. will post 3.85 EPS for the current fiscal year.

Evergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, November 21st will be paid a $0.6675 dividend. The ex-dividend date is Thursday, November 21st. This is a positive change from Evergy’s previous quarterly dividend of $0.64. This represents a $2.67 annualized dividend and a yield of 4.31%. Evergy’s dividend payout ratio (DPR) is 72.16%.

Wall Street Analyst Weigh In

EVRG has been the subject of a number of research reports. Jefferies Financial Group began coverage on Evergy in a research report on Thursday, September 19th. They set a “buy” rating and a $70.00 price objective for the company. Mizuho initiated coverage on shares of Evergy in a research note on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 price objective on the stock. Barclays decreased their target price on shares of Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. UBS Group raised shares of Evergy to a “hold” rating in a research note on Wednesday, September 18th. Finally, Wells Fargo & Company raised 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. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.88.

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.