Intech Investment Management LLC Increases Stock Holdings in Evergy, Inc. (NYSE:EVRG)

Intech Investment Management LLC increased its position in shares of Evergy, Inc. (NYSE:EVRG - Free Report) by 8.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 108,626 shares of the company's stock after purchasing an additional 8,603 shares during the period. Intech Investment Management LLC's holdings in Evergy were worth $6,736,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in EVRG. Millennium Management LLC increased its stake in Evergy by 38.6% in the second quarter. Millennium Management LLC now owns 3,683,000 shares of the company's stock worth $195,089,000 after purchasing an additional 1,026,374 shares during the period. Federated Hermes Inc. increased its stake in Evergy by 18.8% in the 2nd quarter. Federated Hermes Inc. now owns 3,490,674 shares of the company's stock worth $184,901,000 after buying an additional 552,455 shares during the period. Pathway Financial Advisers LLC lifted its holdings in Evergy by 6,854.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,539,001 shares of the company's stock valued at $157,443,000 after buying an additional 2,502,493 shares in the last quarter. Zimmer Partners LP boosted its position in Evergy by 781.4% in the 1st quarter. Zimmer Partners LP now owns 2,326,385 shares of the company's stock valued at $124,182,000 after buying an additional 2,062,434 shares during the period. Finally, Manning & Napier Advisors LLC bought a new position in Evergy in the 2nd quarter worth about $112,464,000. 87.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Evergy

In other Evergy news, EVP Kevin E. Bryant sold 48,141 shares of the company's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total value of $3,029,513.13. Following the completion of the sale, the executive vice president now directly owns 1 shares in the company, valued at $62.93. This represents a 100.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Heather A. Humphrey sold 3,347 shares of Evergy stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $58.80, for a total value of $196,803.60. Following the transaction, the senior vice president now owns 35,314 shares in the company, valued at approximately $2,076,463.20. This represents a 8.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,724 shares of company stock valued at $3,777,059 over the last quarter. 0.47% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on EVRG. UBS Group upgraded shares of Evergy to a "hold" rating in a report on Wednesday, September 18th. Wells Fargo & Company lifted their price objective on shares of Evergy from $65.00 to $69.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Jefferies Financial Group initiated coverage on shares of Evergy in a research note on Thursday, September 19th. They issued a "buy" rating and a $70.00 price objective for the company. Barclays dropped their target price on Evergy from $67.00 to $65.00 and set an "overweight" rating on the stock in a research report on Monday, October 21st. Finally, Mizuho assumed coverage on Evergy in a research report on Tuesday, October 29th. They issued an "outperform" rating and a $67.00 price target for the company. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Evergy presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.88.

Evergy Stock Performance

Shares of EVRG traded down $0.30 during trading hours on Friday, hitting $64.26. The stock had a trading volume of 1,492,980 shares, compared to its average volume of 2,058,972. The firm has a market capitalization of $14.78 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 2.85 and a beta of 0.62. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. The firm has a 50-day moving average price of $61.44 and a 200 day moving average price of $57.79. Evergy, Inc. has a fifty-two week low of $48.04 and a fifty-two week high of $64.95.

Evergy (NYSE:EVRG - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.07. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $2.35 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. Evergy's revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.88 earnings per share. As a group, research analysts anticipate that Evergy, Inc. will post 3.84 EPS for the current year.

Evergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.6675 per share. This is a positive change from Evergy's previous quarterly dividend of $0.64. This represents a $2.67 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend is Thursday, November 21st. Evergy's payout ratio is 72.16%.

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.