CWA Asset Management Group LLC Cuts Stake in Evergy, Inc. (NASDAQ:EVRG)

CWA Asset Management Group LLC cut its holdings in Evergy, Inc. (NASDAQ:EVRG) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,002 shares of the company’s stock after selling 541 shares during the quarter. CWA Asset Management Group LLC’s holdings in Evergy were worth $1,416,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. TD Asset Management Inc boosted its stake in shares of Evergy by 3.4% during the second quarter. TD Asset Management Inc now owns 83,909 shares of the company’s stock valued at $4,445,000 after purchasing an additional 2,770 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Evergy by 49.2% in the 2nd quarter. Victory Capital Management Inc. now owns 1,178,289 shares of the company’s stock valued at $62,414,000 after acquiring an additional 388,625 shares during the period. Savant Capital LLC raised its position in shares of Evergy by 249.7% in the 2nd quarter. Savant Capital LLC now owns 59,604 shares of the company’s stock worth $3,157,000 after acquiring an additional 42,561 shares in the last quarter. MainStreet Investment Advisors LLC lifted its stake in shares of Evergy by 26.4% during the 2nd quarter. MainStreet Investment Advisors LLC now owns 5,718 shares of the company’s stock worth $303,000 after purchasing an additional 1,195 shares during the last quarter. Finally, Caprock Group LLC boosted its position in Evergy by 16.6% during the second quarter. Caprock Group LLC now owns 11,122 shares of the company’s stock valued at $589,000 after purchasing an additional 1,580 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Kevin E. Bryant sold 48,141 shares of the business’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 transaction, the executive vice president now owns 1 shares of the company’s stock, valued at $62.93. The trade was a 100.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on EVRG. Mizuho initiated 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. LADENBURG THALM/SH SH upgraded shares of Evergy from a “neutral” rating to a “buy” rating and raised their target price for the company from $59.00 to $68.50 in a research note on Thursday, January 2nd. Jefferies Financial Group assumed coverage on shares of Evergy in a report on Thursday, September 19th. They issued a “buy” rating and a $70.00 price target on the stock. UBS Group raised Evergy to a “hold” rating in a research report on Wednesday, September 18th. Finally, Barclays reduced their target price on Evergy from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Evergy presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.06.

Evergy Stock Performance

Shares of EVRG stock opened at $60.27 on Tuesday. The business has a fifty day moving average of $62.34 and a 200 day moving average of $59.74. Evergy, Inc. has a 1 year low of $48.04 and a 1 year high of $65.47. 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 firm has a market capitalization of $13.86 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data on Thursday, November 7th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.07. The firm had revenue of $1.81 billion during 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 company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the business posted $1.88 earnings per share. As a group, research analysts expect 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 was paid on Friday, December 20th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.43%. This is a boost from Evergy’s previous quarterly dividend of $0.64. The ex-dividend date was Thursday, November 21st. Evergy’s payout ratio is presently 72.16%.

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.