Sound Income Strategies LLC Increases Stock Position in Evergy, Inc. (NASDAQ:EVRG)

Sound Income Strategies LLC grew its position in Evergy, Inc. (NASDAQ:EVRG - Free Report) by 5,709.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 216,004 shares of the company's stock after buying an additional 212,286 shares during the period. Sound Income Strategies LLC owned 0.09% of Evergy worth $13,295,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Truvestments Capital LLC purchased a new position in Evergy in the third quarter worth approximately $32,000. Hexagon Capital Partners LLC grew its holdings in shares of Evergy by 47.1% during the 3rd quarter. Hexagon Capital Partners LLC now owns 531 shares of the company's stock worth $33,000 after purchasing an additional 170 shares during the period. Sentry Investment Management LLC acquired a new stake in shares of Evergy during the 3rd quarter worth about $51,000. USA Financial Formulas purchased a new stake in Evergy in the 4th quarter valued at about $73,000. Finally, Venturi Wealth Management LLC boosted its stake in Evergy by 230.0% during the third quarter. Venturi Wealth Management LLC now owns 1,386 shares of the company's stock worth $86,000 after buying an additional 966 shares during the period. Institutional investors and hedge funds 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 Evergy stock in a transaction that occurred 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 sale, the executive vice president now owns 1 shares of the company's stock, valued at approximately $62.93. The trade was a 100.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is owned by insiders.

Evergy Stock Up 0.7 %

Evergy stock traded up $0.46 during mid-day trading on Friday, hitting $63.52. The company had a trading volume of 1,583,262 shares, compared to its average volume of 1,668,999. The business has a fifty day moving average of $62.45 and a 200 day moving average of $60.46. Evergy, Inc. has a 1 year low of $48.04 and a 1 year high of $65.47. 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 stock has a market cap of $14.61 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 2.75 and a beta of 0.64.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $0.07. The firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $2.35 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. Evergy's quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.88 earnings per share. On average, sell-side analysts expect that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Thursday, November 21st were issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.20%. This is a boost from Evergy's previous quarterly dividend of $0.64. The ex-dividend date was Thursday, November 21st. Evergy's dividend payout ratio is presently 72.16%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on EVRG shares. LADENBURG THALM/SH SH upgraded shares of Evergy from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $59.00 to $68.50 in a report on Thursday, January 2nd. Wells Fargo & Company raised their price target on Evergy from $65.00 to $69.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Barclays cut their price objective on Evergy from $67.00 to $65.00 and set an "overweight" rating on the stock in a report on Monday, October 21st. Mizuho started coverage on Evergy in a report on Tuesday, October 29th. They set an "outperform" rating and a $67.00 target price for the company. Finally, Guggenheim upgraded shares of Evergy from a "neutral" rating to a "buy" rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $65.79.

Evergy Company 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.