Evergy Inc. $EVRG Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its holdings in Evergy Inc. (NASDAQ:EVRG) by 13.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,328 shares of the company’s stock after selling 1,573 shares during the quarter. SG Americas Securities LLC’s holdings in Evergy were worth $712,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new stake in shares of Evergy during the 1st quarter worth about $212,132,000. Magellan Asset Management Ltd increased its stake in shares of Evergy by 1,418.7% during the second quarter. Magellan Asset Management Ltd now owns 2,364,493 shares of the company’s stock valued at $162,985,000 after acquiring an additional 2,208,799 shares during the period. Maple Brown Abbott Ltd bought a new stake in Evergy during the first quarter worth approximately $63,444,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Evergy by 44.4% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,470,917 shares of the company’s stock worth $170,320,000 after purchasing an additional 760,301 shares in the last quarter. Finally, Truist Financial Corp lifted its position in Evergy by 2,959.7% in the second quarter. Truist Financial Corp now owns 534,558 shares of the company’s stock worth $36,847,000 after purchasing an additional 517,087 shares during the period. Institutional investors own 87.24% of the company’s stock.

Insider Transactions at Evergy

In related news, SVP Lesley Lissette Elwell sold 8,000 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $72.33, for a total value of $578,640.00. Following the completion of the transaction, the senior vice president owned 499 shares of the company’s stock, valued at $36,092.67. This represents a 94.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.42% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EVRG. Barclays reaffirmed an “outperform” rating on shares of Evergy in a research note on Thursday, October 9th. Citigroup upped their price target on shares of Evergy from $79.00 to $89.00 and gave the company a “buy” rating in a report on Monday, November 10th. Royal Bank Of Canada raised shares of Evergy to a “moderate buy” rating in a research note on Tuesday, October 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of Evergy in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group raised their target price on shares of Evergy from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $80.72.

Evergy Price Performance

EVRG opened at $77.02 on Tuesday. The stock has a fifty day moving average price of $76.26 and a 200 day moving average price of $71.69. The company has a current ratio of 0.50, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. Evergy Inc. has a 1 year low of $59.67 and a 1 year high of $79.32. The stock has a market cap of $17.73 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 3.56 and a beta of 0.61.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $2.03 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.11). Evergy had a return on equity of 8.62% and a net margin of 14.29%.The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the company earned $2.02 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. Analysts forecast that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, November 21st will be issued a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, November 21st. This is a boost from Evergy’s previous quarterly dividend of $0.67. Evergy’s payout ratio is 76.16%.

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.