State of Alaska Department of Revenue Trims Stock Position in Evergy, Inc. (NYSE:EVRG)

State of Alaska Department of Revenue trimmed its holdings in shares of Evergy, Inc. (NYSE:EVRG) by 22.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,547 shares of the company’s stock after selling 20,190 shares during the period. State of Alaska Department of Revenue’s holdings in Evergy were worth $4,250,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Manning & Napier Advisors LLC purchased a new stake in shares of Evergy during the second quarter worth about $112,464,000. Wedge Capital Management L L P NC raised its holdings in Evergy by 8.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 260,331 shares of the company’s stock valued at $13,790,000 after acquiring an additional 19,193 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings 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 during the last quarter. Jennison Associates LLC acquired a new stake in shares of Evergy during the first quarter worth $37,526,000. Finally, Entropy Technologies LP increased its stake in Evergy by 129.2% in the first quarter. Entropy Technologies LP now owns 36,838 shares of the company’s stock valued at $1,966,000 after purchasing an additional 20,764 shares during the last quarter. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Trading Down 1.7 %

NYSE:EVRG opened at $59.91 on Wednesday. Evergy, Inc. has a 12 month low of $47.97 and a 12 month high of $62.58. The business’s 50-day moving average is $60.46 and its two-hundred day moving average is $56.64. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.59 and a quick ratio of 0.35. The firm has a market capitalization of $13.78 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 2.74 and a beta of 0.62.

Evergy (NYSE:EVRG) last released its quarterly earnings results on Friday, August 9th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. Evergy had a return on equity of 8.50% and a net margin of 13.12%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company posted $0.81 EPS. Research analysts predict that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, August 20th were issued a dividend of $0.6425 per share. This represents a $2.57 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date was Tuesday, August 20th. Evergy’s payout ratio is 83.17%.

Insider Buying and Selling

In other news, SVP Heather A. Humphrey sold 3,347 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $58.80, for a total transaction of $196,803.60. Following the completion of the sale, the senior vice president now directly owns 35,314 shares in the company, valued at $2,076,463.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Heather A. Humphrey sold 3,347 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $58.80, for a total transaction of $196,803.60. Following the completion of the transaction, the senior vice president now directly owns 35,314 shares in the company, valued at approximately $2,076,463.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ann D. Murtlow sold 3,301 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $58.85, for a total transaction of $194,263.85. Following the sale, the director now directly owns 2,847 shares of the company’s stock, valued at $167,545.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,884 shares of company stock valued at $941,810 in the last quarter. Company insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

EVRG has been the subject of several recent analyst reports. Barclays lowered their price target on Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Mizuho assumed coverage on shares of Evergy in a report on Tuesday. They issued an “outperform” rating and a $67.00 price target on the stock. UBS Group upgraded Evergy to a “hold” rating in a report on Wednesday, September 18th. 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. Finally, Jefferies Financial Group began coverage on Evergy in a research note on Thursday, September 19th. They set a “buy” rating and a $70.00 price target for the company. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus 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.