Raymond James Trust N.A. Cuts Stake in Evergy, Inc. (NYSE:EVRG)

Raymond James Trust N.A. lessened its stake in Evergy, Inc. (NYSE:EVRG) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,815 shares of the company’s stock after selling 335 shares during the quarter. Raymond James Trust N.A.’s holdings in Evergy were worth $361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Millennium Management LLC lifted its stake in shares of Evergy by 38.6% in the second quarter. Millennium Management LLC now owns 3,683,000 shares of the company’s stock worth $195,089,000 after buying an additional 1,026,374 shares in the last quarter. Federated Hermes Inc. boosted its stake in Evergy by 18.8% during the 2nd quarter. Federated Hermes Inc. now owns 3,490,674 shares of the company’s stock valued at $184,901,000 after purchasing an additional 552,455 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in Evergy by 6,854.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,539,001 shares of the company’s stock valued at $157,443,000 after purchasing an additional 2,502,493 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Evergy by 42.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,135,011 shares of the company’s stock worth $132,392,000 after purchasing an additional 634,735 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in shares of Evergy during the second quarter valued at $112,464,000. 87.24% of the stock is owned by hedge funds and other institutional investors.

Evergy Stock Up 0.5 %

EVRG stock opened at $64.84 on Wednesday. The business’s 50-day moving average price is $61.56 and its 200-day moving average price is $57.97. The stock has a market cap of $14.91 billion, a P/E ratio of 17.52, a PEG ratio of 2.86 and a beta of 0.62. 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, Inc. has a twelve month low of $48.04 and a twelve month high of $64.95.

Evergy (NYSE:EVRG) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.07. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $2.35 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.88 earnings per share. On average, equities research analysts forecast that Evergy, Inc. will post 3.84 EPS for the current year.

Evergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, November 21st will be paid a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.12%. The ex-dividend date is Thursday, November 21st. This is an increase from Evergy’s previous quarterly dividend of $0.64. Evergy’s dividend payout ratio (DPR) is 72.16%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Barclays cut their price objective on Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Jefferies Financial Group started coverage on Evergy in a report on Thursday, September 19th. They issued a “buy” rating and a $70.00 target price on the stock. Mizuho started coverage on Evergy in a research note on Tuesday, October 29th. They set an “outperform” rating and a $67.00 price target for the company. Finally, UBS Group upgraded shares of Evergy to a “hold” rating in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.88.

Insider Buying and Selling

In other Evergy news, EVP Kevin E. Bryant sold 48,141 shares of the business’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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $550,742.68. Following the transaction, the senior vice president now directly owns 33,425 shares of the company’s stock, valued at $1,993,132.75. This trade represents a 21.65 % decrease in their position. The disclosure for this sale can be found here. 3.26% of the stock is owned by insiders.

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.