Geode Capital Management LLC decreased its holdings in shares of Evergy, Inc. (NASDAQ:EVRG - Free Report) by 5.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,503,616 shares of the company's stock after selling 309,957 shares during the quarter. Geode Capital Management LLC owned approximately 2.39% of Evergy worth $340,125,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Fairscale Capital LLC acquired a new stake in Evergy in the 2nd quarter worth approximately $27,000. Truvestments Capital LLC bought a new position in shares of Evergy in the third quarter valued at approximately $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 worth $33,000 after buying an additional 170 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of Evergy during the 2nd quarter worth $37,000. Finally, Hantz Financial Services Inc. bought a new stake in shares of Evergy during the 2nd quarter worth $41,000. Institutional investors own 87.24% of the company's stock.
Insiders Place Their Bets
In other Evergy news, EVP Kevin E. Bryant sold 48,141 shares of the stock in a transaction on 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 in the company, valued at $62.93. This represents a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.47% of the company's stock.
Evergy Stock Performance
Shares of NASDAQ:EVRG traded down $0.21 during trading on Friday, hitting $61.91. 1,820,357 shares of the stock were exchanged, compared to its average volume of 2,046,830. The company has a market capitalization of $14.24 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. Evergy, Inc. has a 1-year low of $48.04 and a 1-year high of $65.47. The company's fifty day simple moving average is $62.08 and its 200-day simple moving average is $58.79.
Evergy (NASDAQ:EVRG - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.95 by $0.07. Evergy had a net margin of 14.77% and a return on equity of 8.77%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company earned $1.88 earnings per share. The business's revenue was up 8.5% compared to the same quarter last year. Sell-side analysts expect that Evergy, Inc. will post 3.85 EPS for the current fiscal year.
Evergy Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, November 21st will be given a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Thursday, November 21st. This is a positive change from Evergy's previous quarterly dividend of $0.64. Evergy's dividend payout ratio is 72.16%.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on EVRG shares. Wells Fargo & Company boosted their target price on shares of Evergy from $65.00 to $69.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Jefferies Financial Group assumed coverage on Evergy in a research report on Thursday, September 19th. They set a "buy" rating and a $70.00 price objective for the company. Barclays lowered their target price on Evergy from $67.00 to $65.00 and set an "overweight" rating on the stock in a report on Monday, October 21st. UBS Group upgraded Evergy to a "hold" rating in a report on Wednesday, September 18th. Finally, Mizuho began coverage on shares of Evergy in a research note on Tuesday, October 29th. They issued an "outperform" rating and a $67.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.88.
Read Our Latest Stock Report on EVRG
About Evergy
(
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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