Evergy, Inc. (NYSE:EVRG) Shares Sold by Redwood Investment Management LLC

Redwood Investment Management LLC reduced its holdings in Evergy, Inc. (NYSE:EVRG) by 11.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,255 shares of the company’s stock after selling 4,185 shares during the quarter. Redwood Investment Management LLC’s holdings in Evergy were worth $2,060,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EVRG. Fairscale Capital LLC purchased a new stake in shares of Evergy during the 2nd quarter worth $27,000. Truvestments Capital LLC acquired a new stake in shares of Evergy during the 3rd quarter valued at approximately $32,000. Hexagon Capital Partners LLC boosted its stake 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 acquiring an additional 170 shares in the last quarter. Rothschild Investment LLC purchased a new position in Evergy in the 2nd quarter valued at approximately $37,000. Finally, Hantz Financial Services Inc. acquired a new position in Evergy during the second quarter worth $41,000. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Trading Up 0.1 %

NYSE EVRG opened at $63.30 on Thursday. The company has a market cap of $14.56 billion, a P/E ratio of 16.96, a P/E/G ratio of 2.81 and a beta of 0.64. Evergy, Inc. has a 12 month low of $48.04 and a 12 month high of $65.47. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32. The company has a 50-day moving average of $61.92 and a 200-day moving average of $58.38.

Evergy (NYSE:EVRG) 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. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $2.35 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. Evergy’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.88 earnings per share. As a group, equities analysts predict that Evergy, Inc. will post 3.85 earnings per share for the current year.

Evergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, November 21st will be issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.22%. This is an increase from Evergy’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, November 21st. Evergy’s dividend payout ratio (DPR) is 72.16%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wells Fargo & Company raised their price target on Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Mizuho assumed coverage on shares of Evergy in a report on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 price target on the stock. Barclays dropped their price objective on shares of 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 started coverage on Evergy in a report on Thursday, September 19th. They issued a “buy” rating and a $70.00 price target for the company. Finally, UBS Group raised Evergy to a “hold” rating in a research note on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.88.

Insider Activity

In other news, EVP Kevin E. Bryant sold 48,141 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $62.93, for a total value 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 approximately $62.93. This represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.47% of the company’s stock.

Evergy 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.