Advisors Asset Management Inc. Has $1.44 Million Stock Position in Evergy, Inc. (NYSE:EVRG)

Advisors Asset Management Inc. boosted its stake in shares of Evergy, Inc. (NYSE:EVRG) by 6.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 23,182 shares of the company’s stock after purchasing an additional 1,327 shares during the quarter. Advisors Asset Management Inc.’s holdings in Evergy were worth $1,438,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of EVRG. Fairscale Capital LLC acquired a new stake in shares of Evergy in the second quarter worth $27,000. Hexagon Capital Partners LLC boosted its position in Evergy by 47.1% during the 3rd quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock worth $33,000 after acquiring an additional 170 shares during the period. Rothschild Investment LLC acquired a new stake in Evergy during the 2nd quarter worth about $37,000. Hantz Financial Services Inc. purchased a new position in Evergy during the 2nd quarter valued at about $41,000. Finally, Sentry Investment Management LLC acquired a new position in shares of Evergy in the 3rd quarter valued at about $51,000. 87.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EVRG has been the subject of several research reports. Jefferies Financial Group assumed coverage on shares of Evergy in a report on Thursday, September 19th. They set a “buy” rating and a $70.00 price target for the company. 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. UBS Group upgraded Evergy to a “hold” rating in a report on Wednesday, September 18th. Barclays lowered their target price on Evergy from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Finally, Wells Fargo & Company raised their price target on Evergy from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.88.

Evergy Stock Up 0.4 %

Shares of EVRG stock opened at $64.49 on Tuesday. The stock’s 50 day simple moving average is $61.56 and its 200 day simple moving average is $57.97. Evergy, Inc. has a twelve month low of $48.04 and a twelve month high of $64.95. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. The company has a market capitalization of $14.83 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 2.86 and a beta of 0.62.

Evergy (NYSE:EVRG) last issued its quarterly earnings data on Thursday, November 7th. The company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.07. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. Evergy’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.88 earnings per share. As a group, research analysts predict that Evergy, Inc. will post 3.84 EPS for the current 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 given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend is Thursday, November 21st. This is a boost from Evergy’s previous quarterly dividend of $0.64. Evergy’s payout ratio is currently 72.16%.

Insider Buying and Selling at Evergy

In related news, SVP Charles A. Caisley sold 9,236 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $59.63, for a total value of $550,742.68. Following the completion of the sale, the senior vice president now owns 33,425 shares in the company, valued at approximately $1,993,132.75. This trade represents a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kevin E. Bryant sold 48,141 shares of the business’s stock in a transaction dated 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 owns 1 shares in the company, valued at $62.93. This represents a 100.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.26% of the company’s stock.

Evergy Profile

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.