Pallas Capital Advisors LLC Purchases 1,251 Shares of Evergy, Inc. (NYSE:EVRG)

Pallas Capital Advisors LLC boosted its holdings in Evergy, Inc. (NYSE:EVRG) by 14.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,651 shares of the company’s stock after buying an additional 1,251 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Evergy were worth $595,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Kavar Capital Partners Group LLC bought a new position in shares of Evergy during the third quarter valued at $223,000. DekaBank Deutsche Girozentrale increased its holdings in Evergy by 1.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 18,563 shares of the company’s stock valued at $1,138,000 after purchasing an additional 212 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Evergy by 24.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 24,864 shares of the company’s stock worth $1,542,000 after purchasing an additional 4,920 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings 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 worth $157,443,000 after buying an additional 2,502,493 shares during the period. Finally, NorthCrest Asset Manangement LLC acquired a new position in Evergy during the 3rd quarter worth about $336,000. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Price Performance

Shares of NYSE EVRG opened at $60.06 on Thursday. The firm has a market capitalization of $13.81 billion, a P/E ratio of 19.44, a P/E/G ratio of 2.74 and a beta of 0.62. The firm’s 50-day moving average price is $60.49 and its 200-day moving average price is $56.66. The company has a current ratio of 0.59, a quick ratio of 0.35 and a debt-to-equity ratio of 1.23. Evergy, Inc. has a 1-year low of $47.97 and a 1-year high of $62.58.

Evergy (NYSE:EVRG) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. Evergy had a return on equity of 8.50% and a net margin of 13.12%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the business earned $0.81 EPS. Equities research analysts anticipate that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, August 20th were given a $0.6425 dividend. This represents a $2.57 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend was Tuesday, August 20th. Evergy’s payout ratio is currently 83.17%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Evergy

In other Evergy news, Director Ann D. Murtlow sold 3,301 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $58.85, for a total value of $194,263.85. Following the transaction, the director now directly owns 2,847 shares of the company’s stock, valued at approximately $167,545.95. This trade represents a 0.00 % 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. In related news, SVP Charles A. Caisley sold 9,236 shares of Evergy stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total transaction of $550,742.68. Following the transaction, the senior vice president now owns 33,425 shares of the company’s stock, valued at $1,993,132.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ann D. Murtlow sold 3,301 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $58.85, for a total value of $194,263.85. Following the completion of the sale, the director now directly owns 2,847 shares of the company’s stock, valued at $167,545.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,884 shares of company stock worth $941,810. 0.47% of the stock is owned by corporate insiders.

Evergy Company 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.