Evergy, Inc. (NASDAQ:EVRG - Get Free Report) was the target of a large growth in short interest in November. As of November 30th, there was short interest totalling 8,290,000 shares, a growth of 15.8% from the November 15th total of 7,160,000 shares. Approximately 3.7% of the company's stock are sold short. Based on an average daily volume of 1,810,000 shares, the days-to-cover ratio is currently 4.6 days.
Evergy Stock Performance
EVRG stock traded down $0.49 during trading on Monday, hitting $61.42. The company had a trading volume of 1,778,807 shares, compared to its average volume of 2,045,723. The firm has a 50-day moving average price of $62.11 and a 200-day moving average price of $58.89. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15. The firm has a market cap of $14.13 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. Evergy has a 1-year low of $48.04 and a 1-year high of $65.47.
Evergy (NASDAQ:EVRG - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $2.02 earnings per share (EPS) 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 analyst estimates of $2.35 billion. During the same quarter in the previous year, the company posted $1.88 earnings per share. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts expect that Evergy will post 3.85 earnings per share for the current year.
Evergy Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, November 21st will be issued a $0.6675 dividend. This is an increase from Evergy's previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.67 annualized dividend and a dividend yield of 4.35%. Evergy's payout ratio is presently 72.16%.
Analyst Ratings Changes
Several equities analysts have commented on the stock. Barclays dropped their price target on shares of Evergy from $67.00 to $65.00 and set an "overweight" rating on the stock in a research note on Monday, October 21st. Wells Fargo & Company increased their target price on shares of Evergy from $65.00 to $69.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. UBS Group raised shares of Evergy to a "hold" rating in a research report on Wednesday, September 18th. Mizuho began coverage on Evergy in a report on Tuesday, October 29th. They set an "outperform" rating and a $67.00 price objective on the stock. Finally, Jefferies Financial Group started coverage on Evergy in a report on Thursday, September 19th. They issued a "buy" rating and a $70.00 target price for the company. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Evergy currently has an average rating of "Moderate Buy" and an average target price of $61.88.
Check Out Our Latest Stock Report on Evergy
Insider Activity
In other news, EVP Kevin E. Bryant sold 48,141 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total transaction of $3,029,513.13. Following the completion of the transaction, the executive vice president now directly owns 1 shares of the company's stock, valued at approximately $62.93. This represents a 100.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.47% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Fairscale Capital LLC purchased a new position in Evergy in the second quarter worth $27,000. Truvestments Capital LLC purchased a new position in shares of Evergy in the 3rd quarter valued at about $32,000. Hexagon Capital Partners LLC lifted its stake in shares of Evergy by 47.1% in the third quarter. Hexagon Capital Partners LLC now owns 531 shares of the company's stock valued at $33,000 after purchasing an additional 170 shares during the period. Rothschild Investment LLC acquired a new stake in shares of Evergy in the second quarter valued at about $37,000. Finally, Hantz Financial Services Inc. purchased a new stake in Evergy during the second quarter worth about $41,000. 87.24% of the stock is currently owned by institutional investors and hedge funds.
About Evergy
(
Get Free Report)
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.
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