Gabelli Funds LLC Cuts Stock Holdings in Evergy, Inc. (NYSE:EVRG)

Gabelli Funds LLC trimmed its holdings in shares of Evergy, Inc. (NYSE:EVRG) by 7.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,171,307 shares of the company’s stock after selling 91,000 shares during the quarter. Gabelli Funds LLC owned approximately 0.51% of Evergy worth $62,044,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in EVRG. Manning & Napier Advisors LLC purchased a new position in shares of Evergy in the 2nd quarter worth approximately $112,464,000. Wedge Capital Management L L P NC grew its holdings in Evergy by 8.0% in the second quarter. Wedge Capital Management L L P NC now owns 260,331 shares of the company’s stock worth $13,790,000 after purchasing an additional 19,193 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Evergy by 11.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 316,455 shares of the company’s stock worth $16,892,000 after purchasing an additional 31,985 shares in the last quarter. APG Asset Management US Inc. purchased a new stake in shares of Evergy during the 4th quarter valued at $2,057,000. Finally, Vanguard Group Inc. boosted its position in shares of Evergy by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 30,757,415 shares of the company’s stock worth $1,605,537,000 after purchasing an additional 1,399,199 shares in the last quarter. 87.24% of the stock is owned by institutional investors.

Evergy Stock Up 0.9 %

Shares of EVRG opened at $61.65 on Friday. The company has a market capitalization of $14.18 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 3.12 and a beta of 0.62. Evergy, Inc. has a 52 week low of $46.92 and a 52 week high of $62.24. The stock’s 50-day moving average price is $58.63 and its 200-day moving average price is $54.92. The company has a quick ratio of 0.35, a current ratio of 0.59 and a debt-to-equity ratio of 1.23.

Evergy (NYSE:EVRG) last released its quarterly earnings data on Friday, August 9th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.32 billion. Evergy had a return on equity of 8.50% and a net margin of 13.12%. During the same quarter in the prior year, the firm posted $0.81 EPS. On average, sell-side analysts predict that Evergy, Inc. will post 3.85 EPS for the current year.

Evergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Tuesday, August 20th were given a $0.6425 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $2.57 dividend on an annualized basis and a dividend yield of 4.17%. Evergy’s dividend payout ratio (DPR) is currently 83.17%.

Insider Activity

In related news, SVP Charles A. Caisley sold 9,236 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was 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 of the company’s stock, valued at approximately $1,993,132.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Heather A. Humphrey sold 3,347 shares of Evergy stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $58.80, for a total value of $196,803.60. Following the sale, the senior vice president now directly owns 35,314 shares in the company, valued at approximately $2,076,463.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Charles A. Caisley sold 9,236 shares of the 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 transaction, the senior vice president now directly owns 33,425 shares of the company’s stock, valued at approximately $1,993,132.75. The disclosure for this sale can be found here. Insiders have sold 15,884 shares of company stock worth $941,810 in the last ninety days. Company insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EVRG. UBS Group raised Evergy to a “hold” rating in a research report on Wednesday. Barclays upped their price objective on shares of Evergy from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Finally, Jefferies Financial Group began coverage on shares of Evergy in a research report on Thursday. They set a “buy” rating and a $70.00 target price on the stock. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Evergy currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

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.