Citigroup Inc. Decreases Holdings in Evergy, Inc. (NYSE:EVRG)

Citigroup Inc. lowered its position in Evergy, Inc. (NYSE:EVRG) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 970,993 shares of the company’s stock after selling 7,386 shares during the quarter. Citigroup Inc. owned 0.42% of Evergy worth $60,211,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in shares of 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 purchasing an additional 1,026,374 shares in the last quarter. Federated Hermes Inc. raised its stake in Evergy by 18.8% during the second quarter. Federated Hermes Inc. now owns 3,490,674 shares of the company’s stock worth $184,901,000 after acquiring an additional 552,455 shares during the period. Pathway Financial Advisers LLC raised its stake in Evergy by 6,854.6% during the third quarter. Pathway Financial Advisers LLC now owns 2,539,001 shares of the company’s stock worth $157,443,000 after acquiring an additional 2,502,493 shares during the period. Zimmer Partners LP raised its stake in Evergy by 781.4% during the first quarter. Zimmer Partners LP now owns 2,326,385 shares of the company’s stock worth $124,182,000 after acquiring an additional 2,062,434 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Evergy by 42.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,135,011 shares of the company’s stock worth $132,392,000 after acquiring an additional 634,735 shares during the period. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Trading Down 0.5 %

Evergy stock opened at $64.26 on Friday. The firm has a 50 day simple moving average of $61.51 and a 200-day simple moving average of $57.89. 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 stock has a market capitalization of $14.78 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 2.87 and a beta of 0.62. Evergy, Inc. has a 12-month low of $48.04 and a 12-month high of $64.95.

Evergy (NYSE:EVRG) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.07. The business 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%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm posted $1.88 earnings per share. As a group, equities research analysts expect that Evergy, Inc. will post 3.84 EPS for the current fiscal year.

Evergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, November 21st will be issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 4.15%. This is a boost from Evergy’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, November 21st. Evergy’s dividend payout ratio (DPR) is presently 72.16%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group started coverage on shares of Evergy in a research note on Thursday, September 19th. They set a “buy” rating and a $70.00 price objective on the stock. UBS Group upgraded shares of Evergy to a “hold” rating in a research report on Wednesday, September 18th. Mizuho started coverage on shares of Evergy in a research report on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 target price for the company. Wells Fargo & Company upped their target price on shares of Evergy from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Barclays decreased their target price on shares of Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.88.

Insider Buying and Selling

In related news, SVP Heather A. Humphrey sold 3,347 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $58.80, for a total transaction of $196,803.60. Following the completion of the sale, the senior vice president now directly owns 35,314 shares in the company, valued at approximately $2,076,463.20. This trade represents a 8.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Charles A. Caisley sold 9,236 shares of the firm’s 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 sale, the senior vice president now owns 33,425 shares of the company’s stock, valued at $1,993,132.75. The trade was a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,724 shares of company stock worth $3,777,059. Corporate insiders own 0.47% of the company’s stock.

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.