Exchange Traded Concepts LLC Reduces Stock Holdings in Evergy, Inc. (NASDAQ:EVRG)

Exchange Traded Concepts LLC lowered its position in Evergy, Inc. (NASDAQ:EVRG) by 52.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 14,045 shares of the company’s stock after selling 15,364 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Evergy were worth $864,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Truvestments Capital LLC bought a new position in Evergy during the third quarter worth about $32,000. Hexagon Capital Partners LLC boosted its holdings in Evergy by 47.1% in the 3rd quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock worth $33,000 after buying an additional 170 shares during the period. Sentry Investment Management LLC bought a new position in Evergy in the 3rd quarter worth approximately $51,000. USA Financial Formulas bought a new stake in Evergy during the 4th quarter valued at $73,000. Finally, Venturi Wealth Management LLC raised its holdings in Evergy by 230.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,386 shares of the company’s stock valued at $86,000 after acquiring an additional 966 shares during the period. 87.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EVRG has been the subject of several recent research reports. Guggenheim upgraded Evergy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Wells Fargo & Company lifted 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. LADENBURG THALM/SH SH upgraded Evergy from a “neutral” rating to a “buy” rating and upped their price target for the company from $59.00 to $68.50 in a research report on Thursday, January 2nd. Barclays cut their price objective on shares of Evergy from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Mizuho started coverage on shares of Evergy in a report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 target price on the stock. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.36.

Evergy Trading Down 1.6 %

Shares of Evergy stock opened at $63.21 on Wednesday. The company has a 50 day simple moving average of $62.44 and a two-hundred day simple moving average of $60.76. 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 cap of $14.54 billion, a PE ratio of 17.08, a PEG ratio of 2.75 and a beta of 0.64. Evergy, Inc. has a 1 year low of $48.04 and a 1 year high of $65.47.

Evergy (NASDAQ:EVRG) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 8.5% on a year-over-year basis. Analysts expect that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Increases Dividend

The firm also recently declared 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. 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 annualized dividend and a dividend yield of 4.22%. Evergy’s dividend payout ratio (DPR) is 72.16%.

Insider Transactions at Evergy

In other Evergy news, EVP Kevin E. Bryant sold 48,141 shares of the business’s stock in a transaction 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 $62.93. The trade was a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.47% of the company’s stock.

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.