Foresight Capital Management Advisors Inc. Buys 2,285 Shares of Evergy, Inc. (NASDAQ:EVRG)

Foresight Capital Management Advisors Inc. lifted its stake in shares of Evergy, Inc. (NASDAQ:EVRG) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,488 shares of the company’s stock after purchasing an additional 2,285 shares during the period. Foresight Capital Management Advisors Inc.’s holdings in Evergy were worth $2,615,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. raised its stake in Evergy by 5.5% in the 3rd quarter. Franklin Resources Inc. now owns 5,532,719 shares of the company’s stock valued at $330,469,000 after acquiring an additional 288,619 shares during the period. Millennium Management LLC raised its stake in Evergy by 38.6% in the 2nd quarter. Millennium Management LLC now owns 3,683,000 shares of the company’s stock valued at $195,089,000 after acquiring an additional 1,026,374 shares during the period. Point72 Asset Management L.P. raised its stake in Evergy by 25.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,848,735 shares of the company’s stock valued at $176,650,000 after acquiring an additional 583,923 shares during the period. Pathway Financial Advisers LLC raised its stake in Evergy by 6,854.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,539,001 shares of the company’s stock valued at $157,443,000 after acquiring an additional 2,502,493 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Evergy by 42.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,135,011 shares of the company’s stock valued at $132,392,000 after acquiring an additional 634,735 shares during the period. Institutional investors own 87.24% of the company’s stock.

Evergy Stock Performance

EVRG opened at $61.68 on Thursday. The firm has a market cap of $14.19 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 2.62 and a beta of 0.64. Evergy, Inc. has a 52-week low of $48.04 and a 52-week high of $65.47. 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 business’s fifty day moving average is $62.42 and its 200-day moving average is $60.07.

Evergy (NASDAQ:EVRG) last released its earnings results on Thursday, November 7th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.07. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $2.35 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. Evergy’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.88 EPS. Sell-side analysts expect that Evergy, Inc. will post 3.84 EPS for the current fiscal year.

Evergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Thursday, November 21st were given a dividend of $0.6675 per share. This is an increase from Evergy’s previous quarterly dividend of $0.64. This represents a $2.67 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend was Thursday, November 21st. Evergy’s dividend payout ratio is currently 72.16%.

Insider Buying and Selling

In related 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 transaction 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 this link. 3.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on EVRG shares. LADENBURG THALM/SH SH upgraded Evergy from a “neutral” rating to a “buy” rating and increased their price target for the company from $59.00 to $68.50 in a research note on Thursday, January 2nd. Barclays decreased 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. UBS Group raised Evergy to a “hold” rating in a report on Wednesday, September 18th. Wells Fargo & Company upped their price objective on Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Mizuho initiated coverage on Evergy in a report on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 price objective on the stock. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Evergy presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.06.

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.