Wellington Management Group LLP Cuts Stock Position in Evergy, Inc. (NASDAQ:EVRG)

Wellington Management Group LLP decreased its holdings in Evergy, Inc. (NASDAQ:EVRG) by 96.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,397 shares of the company’s stock after selling 246,566 shares during the quarter. Wellington Management Group LLP’s holdings in Evergy were worth $583,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Wexford Capital LP boosted its position in Evergy by 31.2% in the 3rd quarter. Wexford Capital LP now owns 84,926 shares of the company’s stock valued at $5,266,000 after buying an additional 20,190 shares during the period. Worldquant Millennium Advisors LLC boosted its holdings in Evergy by 75.4% in the third quarter. Worldquant Millennium Advisors LLC now owns 162,194 shares of the company’s stock valued at $10,058,000 after purchasing an additional 69,711 shares during the period. Stifel Financial Corp grew its stake in Evergy by 9.7% during the 3rd quarter. Stifel Financial Corp now owns 273,314 shares of the company’s stock worth $16,948,000 after purchasing an additional 24,149 shares in the last quarter. Quantinno Capital Management LP increased its holdings in Evergy by 5.5% during the 3rd quarter. Quantinno Capital Management LP now owns 105,489 shares of the company’s stock worth $6,541,000 after purchasing an additional 5,526 shares during the period. Finally, Point72 Asset Management L.P. raised its position in Evergy by 25.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,848,735 shares of the company’s stock valued at $176,650,000 after purchasing an additional 583,923 shares in the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Stock Performance

Shares of EVRG stock opened at $61.43 on Friday. The stock’s 50-day moving average is $62.19 and its two-hundred day moving average is $58.96. 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 1 year low of $48.04 and a 1 year high of $65.47. The firm has a market cap of $14.13 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 2.77 and a beta of 0.64.

Evergy (NASDAQ:EVRG) last released its quarterly 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 return on equity of 8.77% and a net margin of 14.77%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the business posted $1.88 EPS. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. Analysts predict that Evergy, Inc. will post 3.85 earnings per share for the current year.

Evergy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Thursday, November 21st were given a $0.6675 dividend. This is an increase from Evergy’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.67 annualized dividend and a yield of 4.35%. Evergy’s dividend payout ratio is 72.16%.

Insider Buying and Selling

In other Evergy news, EVP Kevin E. Bryant sold 48,141 shares of Evergy 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 transaction, the executive vice president now directly owns 1 shares in the company, valued at approximately $62.93. The trade was 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. 3.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EVRG. Jefferies Financial Group assumed 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. Wells Fargo & Company increased 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. UBS Group raised shares of Evergy to a “hold” rating in a research report on Wednesday, September 18th. Mizuho started coverage on Evergy in a report on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 target price on the stock. Finally, Barclays cut their price target on Evergy from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus 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.