CIBC Asset Management Inc Raises Holdings in Evergy, Inc. (NYSE:EVRG)

CIBC Asset Management Inc raised its position in Evergy, Inc. (NYSE:EVRG) by 7.1% during the third quarter, HoldingsChannel reports. The firm owned 39,139 shares of the company’s stock after purchasing an additional 2,581 shares during the period. CIBC Asset Management Inc’s holdings in Evergy were worth $2,427,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC grew its position in shares of Evergy by 47.1% in the third quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock valued at $33,000 after purchasing an additional 170 shares in the last quarter. GPS Wealth Strategies Group LLC grew its holdings in Evergy by 12.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,705 shares of the company’s stock valued at $90,000 after buying an additional 187 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Evergy by 16.3% in the 2nd quarter. Blue Trust Inc. now owns 1,483 shares of the company’s stock worth $79,000 after acquiring an additional 208 shares during the last quarter. Keeley Teton Advisors LLC raised its holdings in shares of Evergy by 0.6% during the 1st quarter. Keeley Teton Advisors LLC now owns 37,950 shares of the company’s stock worth $2,026,000 after acquiring an additional 210 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Evergy by 1.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 18,563 shares of the company’s stock valued at $1,138,000 after acquiring an additional 212 shares during the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.

Insider Activity

In other news, SVP Heather A. Humphrey sold 3,347 shares of Evergy stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $58.80, for a total value of $196,803.60. Following the sale, the senior vice president now owns 35,314 shares of the company’s stock, valued at $2,076,463.20. The trade was a 8.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kevin E. Bryant sold 48,141 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 1 shares of the company’s stock, 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. Over the last three months, insiders sold 60,724 shares of company stock valued at $3,777,059. Insiders own 3.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Evergy Price Performance

Shares of NYSE:EVRG opened at $63.98 on Wednesday. Evergy, Inc. has a 12 month low of $48.04 and a 12 month high of $64.14. The firm has a market capitalization of $14.71 billion, a P/E ratio of 17.29, a P/E/G ratio of 2.84 and a beta of 0.62. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32. The company’s fifty day moving average price is $61.28 and its 200 day moving average price is $57.70.

Evergy (NYSE:EVRG) last posted its earnings results on Thursday, November 7th. The company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.07. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.88 earnings per share. As a group, sell-side analysts predict that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, November 21st will be paid a $0.6675 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This is a positive change from Evergy’s previous quarterly dividend of $0.64. This represents a $2.67 dividend on an annualized basis and a yield of 4.17%. Evergy’s payout ratio is currently 69.46%.

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.