Evergy, Inc. (NASDAQ:EVRG) Stake Increased by Pensionfund Sabic

Pensionfund Sabic lifted its position in shares of Evergy, Inc. (NASDAQ:EVRG) by 26.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,000 shares of the company’s stock after acquiring an additional 5,000 shares during the period. Pensionfund Sabic’s holdings in Evergy were worth $1,477,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Fairscale Capital LLC acquired a new stake in shares of Evergy in the second quarter valued at $27,000. Truvestments Capital LLC acquired a new stake in Evergy in the 3rd quarter valued at about $32,000. Hexagon Capital Partners LLC lifted its holdings in Evergy by 47.1% in the 3rd quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock valued at $33,000 after acquiring an additional 170 shares during the last quarter. Benjamin Edwards Inc. grew its stake in shares of Evergy by 47.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 856 shares of the company’s stock worth $45,000 after purchasing an additional 277 shares during the last quarter. Finally, Sentry Investment Management LLC bought a new stake in shares of Evergy in the 3rd quarter worth approximately $51,000. Institutional investors own 87.24% of the company’s stock.

Evergy Stock Down 1.1 %

Shares of NASDAQ:EVRG traded down $0.66 on Monday, reaching $60.89. The company had a trading volume of 121,143 shares, compared to its average volume of 967,229. The stock has a market capitalization of $14.00 billion, a P/E ratio of 16.46, a P/E/G ratio of 2.75 and a beta of 0.64. The stock has a 50-day moving average price of $62.35 and a 200 day moving average price of $59.69. Evergy, Inc. has a twelve month low of $48.04 and a twelve month high of $65.47. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15.

Evergy (NASDAQ:EVRG) last announced its earnings results on Thursday, November 7th. The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.95 by $0.07. Evergy had a net margin of 14.77% and a return on equity of 8.77%. 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 firm posted $1.88 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts expect that Evergy, Inc. will post 3.84 EPS for the current year.

Evergy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Thursday, November 21st were given a dividend of $0.6675 per share. The ex-dividend date of this dividend was Thursday, November 21st. This is an increase from Evergy’s previous quarterly dividend of $0.64. This represents a $2.67 dividend on an annualized basis and a yield of 4.38%. Evergy’s dividend payout ratio (DPR) is 72.16%.

Insider Buying and Selling at Evergy

In other news, EVP Kevin E. Bryant sold 48,141 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was 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 owns 1 shares in the company, valued at $62.93. The trade was a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on EVRG shares. UBS Group upgraded shares of Evergy to a “hold” rating in a research report on Wednesday, September 18th. LADENBURG THALM/SH SH upgraded shares of Evergy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $59.00 to $68.50 in a research report on Thursday. Mizuho began coverage on shares of Evergy in a report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 price target on the stock. Jefferies Financial Group assumed coverage on Evergy in a report on Thursday, September 19th. They set a “buy” rating and a $70.00 price objective for the company. Finally, Wells Fargo & Company boosted their target price on Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.06.

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.