Evergy, Inc. (NYSE:EVRG) Position Cut by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in Evergy, Inc. (NYSE:EVRG) by 1.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 727,403 shares of the company’s stock after selling 11,353 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Evergy were worth $45,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Qsemble Capital Management LP grew its holdings in Evergy by 34.0% in the 3rd quarter. Qsemble Capital Management LP now owns 34,702 shares of the company’s stock worth $2,152,000 after buying an additional 8,811 shares in the last quarter. Bank of Montreal Can grew its holdings in Evergy by 29.1% in the 3rd quarter. Bank of Montreal Can now owns 997,832 shares of the company’s stock worth $61,806,000 after buying an additional 224,679 shares in the last quarter. Truvestments Capital LLC bought a new position in Evergy in the 3rd quarter worth approximately $32,000. DRW Securities LLC bought a new position in Evergy in the 3rd quarter worth approximately $8,713,000. Finally, Independent Advisor Alliance boosted its stake in Evergy by 6.3% during the 3rd quarter. Independent Advisor Alliance now owns 24,487 shares of the company’s stock valued at $1,518,000 after purchasing an additional 1,444 shares in the last quarter. 87.24% of the stock is owned by institutional investors.

Evergy Price Performance

Shares of NYSE:EVRG opened at $65.00 on Friday. Evergy, Inc. has a one year low of $48.04 and a one year high of $65.47. The stock has a fifty day moving average of $61.69 and a 200-day moving average of $58.09. The company has a market capitalization of $14.95 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 2.87 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.

Evergy (NYSE:EVRG) last announced its quarterly earnings data on Thursday, November 7th. The company reported $2.02 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 company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm earned $1.88 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities analysts anticipate that Evergy, Inc. will post 3.84 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 dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.11%. This is a positive change from Evergy’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, November 21st. Evergy’s payout ratio is presently 72.16%.

Insider Activity at Evergy

In related news, EVP Kevin E. Bryant sold 48,141 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $62.93, for a total transaction of $3,029,513.13. Following the transaction, the executive vice president now directly owns 1 shares of the company’s stock, valued at approximately $62.93. The trade was a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Charles A. Caisley sold 9,236 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total transaction of $550,742.68. Following the completion of the sale, the senior vice president now owns 33,425 shares of the company’s stock, valued at approximately $1,993,132.75. The trade was a 21.65 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EVRG. Barclays decreased their price target on Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Jefferies Financial Group began coverage on Evergy in a research note on Thursday, September 19th. They set a “buy” rating and a $70.00 price target for the company. Mizuho began coverage on Evergy in a research note on Tuesday, October 29th. They set an “outperform” rating and a $67.00 price target for the company. Wells Fargo & Company increased their price target on Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, UBS Group raised Evergy to a “hold” rating in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.88.

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.