Thrivent Financial for Lutherans Cuts Stake in Evergy, Inc. (NYSE:EVRG)

Thrivent Financial for Lutherans reduced its position in Evergy, Inc. (NYSE:EVRG) by 95.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,216 shares of the company’s stock after selling 713,193 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Evergy were worth $1,873,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Fairscale Capital LLC bought a new position in Evergy in the second quarter worth approximately $27,000. Hexagon Capital Partners LLC increased its holdings in shares of Evergy by 47.1% during the third quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock valued at $33,000 after acquiring an additional 170 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Evergy in the 2nd quarter valued at approximately $37,000. Hantz Financial Services Inc. acquired a new stake in Evergy in the 2nd quarter worth approximately $41,000. Finally, Benjamin Edwards Inc. boosted its stake in 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 in the last quarter. 87.24% of the stock is owned by hedge funds and other institutional investors.

Evergy Trading Up 0.2 %

Evergy stock opened at $65.00 on Friday. The firm has a market cap of $14.95 billion, a PE ratio of 17.57, a P/E/G ratio of 2.87 and a beta of 0.62. The stock’s 50 day simple moving average is $61.69 and its two-hundred day simple moving average is $58.09. The company has a current ratio of 0.55, a quick ratio of 0.32 and a debt-to-equity ratio of 1.15. Evergy, Inc. has a 12 month low of $48.04 and a 12 month high of $65.47.

Evergy (NYSE:EVRG) last released its 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. Evergy had a return on equity of 8.77% and a net margin of 14.77%. The business 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 business posted $1.88 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. Analysts anticipate that Evergy, Inc. will post 3.84 earnings per share 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 issued a $0.6675 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This is a boost from Evergy’s previous quarterly dividend of $0.64. This represents a $2.67 dividend on an annualized basis and a yield of 4.11%. Evergy’s dividend payout ratio is currently 72.16%.

Insider Transactions at Evergy

In related news, EVP Kevin E. Bryant sold 48,141 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total value of $3,029,513.13. Following the completion of the sale, 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 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 Evergy stock in a transaction that occurred on 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 transaction, the senior vice president now owns 33,425 shares in the company, valued at $1,993,132.75. This trade represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

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

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.