Inspire Investing LLC Lowers Position in Evergy, Inc. (NASDAQ:EVRG)

Inspire Investing LLC decreased its position in shares of Evergy, Inc. (NASDAQ:EVRG) by 2.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 24,295 shares of the company’s stock after selling 549 shares during the period. Inspire Investing LLC’s holdings in Evergy were worth $1,495,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Truvestments Capital LLC purchased a new position in Evergy during the 3rd quarter valued at about $32,000. Hexagon Capital Partners LLC lifted its holdings in shares of Evergy by 47.1% during the third quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock valued at $33,000 after purchasing an additional 170 shares during the last quarter. Sentry Investment Management LLC bought a new stake in shares of Evergy in the 3rd quarter worth approximately $51,000. USA Financial Formulas purchased a new stake in shares of Evergy in the 4th quarter worth approximately $73,000. Finally, Venturi Wealth Management LLC increased its position in Evergy by 230.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,386 shares of the company’s stock valued at $86,000 after buying an additional 966 shares in the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Evergy Stock Performance

Shares of NASDAQ EVRG opened at $63.06 on Friday. The firm’s 50-day moving average price is $62.45 and its 200-day moving average price is $60.46. Evergy, Inc. has a 52-week low of $48.04 and a 52-week high of $65.47. The company has a market cap of $14.50 billion, a PE ratio of 17.04, a PEG ratio of 2.78 and a beta of 0.64. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15.

Evergy (NASDAQ:EVRG) last issued 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. Evergy had a net margin of 14.77% and a return on equity of 8.77%. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the company posted $1.88 earnings per share. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, 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 was paid on Friday, December 20th. Investors of record on Thursday, November 21st were issued a $0.6675 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.67 annualized dividend and a dividend yield of 4.23%. This is a positive change from Evergy’s previous quarterly dividend of $0.64. 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 firm’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 value of $3,029,513.13. Following the transaction, the executive vice president now owns 1 shares of the company’s stock, valued at approximately $62.93. This trade represents a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.47% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.