Evergy, Inc. (NASDAQ:EVRG) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its stake in shares of Evergy, Inc. (NASDAQ:EVRG) by 96.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 9,397 shares of the company’s stock after selling 246,566 shares during the period. Wellington Management Group LLP’s holdings in Evergy were worth $583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fairscale Capital LLC purchased a new position in Evergy during the 2nd quarter worth $27,000. Truvestments Capital LLC purchased a new position in Evergy during the third quarter worth about $32,000. Hexagon Capital Partners LLC lifted its position in 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 during the period. Rothschild Investment LLC acquired a new stake in Evergy in the second quarter valued at about $37,000. Finally, Hantz Financial Services Inc. purchased a new stake in Evergy in the 2nd quarter valued at approximately $41,000. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Evergy news, EVP Kevin E. Bryant sold 48,141 shares of Evergy stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 1 shares of the company’s stock, valued at approximately $62.93. The trade was a 100.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

Evergy Price Performance

Shares of NASDAQ:EVRG opened at $61.43 on Friday. 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 business’s fifty day moving average price is $62.19 and its two-hundred day moving average price is $58.96. The stock has a market cap of $14.13 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. Evergy, Inc. has a one year low of $48.04 and a one year high of $65.47.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings data on Thursday, November 7th. The company reported $2.02 earnings per share (EPS) 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 return on equity of 8.77% and a net margin of 14.77%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.88 earnings per share. On average, analysts forecast that Evergy, Inc. will post 3.85 EPS for the current fiscal year.

Evergy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.6675 per share. The ex-dividend date was Thursday, November 21st. This is an increase from Evergy’s previous quarterly dividend of $0.64. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.35%. Evergy’s payout ratio is 72.16%.

About Evergy

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.