Phoenix Wealth Advisors Has $205,000 Stake in Evergy, Inc. (NASDAQ:EVRG)

Phoenix Wealth Advisors decreased its stake in shares of Evergy, Inc. (NASDAQ:EVRG) by 4.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,336 shares of the company’s stock after selling 165 shares during the period. Phoenix Wealth Advisors’ holdings in Evergy were worth $205,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Truvestments Capital LLC acquired a new stake in Evergy in the 3rd quarter valued at approximately $32,000. Hexagon Capital Partners LLC grew its holdings in Evergy by 47.1% in the 3rd quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock valued at $33,000 after buying an additional 170 shares during the last quarter. Sentry Investment Management LLC acquired a new stake in Evergy in the 3rd quarter valued at approximately $51,000. USA Financial Formulas acquired a new stake in Evergy in the 4th quarter valued at approximately $73,000. Finally, Venturi Wealth Management LLC grew its holdings in Evergy by 230.0% in 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 during the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Price Performance

Evergy stock opened at $63.63 on Wednesday. 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 market capitalization of $14.63 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 2.76 and a beta of 0.64. Evergy, Inc. has a one year low of $48.04 and a one year high of $65.47. The business has a 50 day simple moving average of $62.46 and a 200 day simple moving average of $60.42.

Evergy (NASDAQ:EVRG) last posted its earnings results on Thursday, November 7th. The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.95 by $0.07. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $2.35 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. Evergy’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $1.88 EPS. On average, sell-side analysts forecast that Evergy, Inc. will post 3.84 EPS for the current fiscal year.

Evergy Increases Dividend

The business also recently announced 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 represents a $2.67 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Thursday, November 21st. This is an increase from Evergy’s previous quarterly dividend of $0.64. Evergy’s dividend payout ratio (DPR) is 72.16%.

Insider Buying and Selling

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 stock was sold at an average price of $62.93, for a total transaction of $3,029,513.13. Following the completion of the transaction, the executive vice president now owns 1 shares in the company, valued at $62.93. This trade represents a 100.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

EVRG has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. LADENBURG THALM/SH SH upgraded Evergy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $59.00 to $68.50 in a research report on Thursday, January 2nd. Barclays reduced their price objective on Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Mizuho initiated coverage on Evergy in a research report on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $64.06.

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.