DRW Securities LLC Buys New Shares in Evergy, Inc. (NYSE:EVRG)

DRW Securities LLC bought a new stake in Evergy, Inc. (NYSE:EVRG) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 140,508 shares of the company’s stock, valued at approximately $8,713,000. DRW Securities LLC owned 0.06% of Evergy as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Fairscale Capital LLC acquired a new position in Evergy during the second quarter valued at approximately $27,000. Hexagon Capital Partners LLC lifted its position in 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 buying an additional 170 shares in the last quarter. Rothschild Investment LLC acquired a new position in Evergy during the second quarter valued at approximately $37,000. Hantz Financial Services Inc. acquired a new position in Evergy during the second quarter valued at approximately $41,000. Finally, Sentry Investment Management LLC acquired a new position in Evergy during the third quarter valued at approximately $51,000. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Jefferies Financial Group started coverage on shares of Evergy in a research report on Thursday, September 19th. They set a “buy” rating and a $70.00 target price on the stock. UBS Group upgraded shares of Evergy to a “hold” rating in a research note on Wednesday, September 18th. Barclays dropped their price target 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. Mizuho started coverage on shares of Evergy in a research note on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 price target for the company. Finally, Wells Fargo & Company lifted 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. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.88.

Insider Transactions at Evergy

In other news, SVP Heather A. Humphrey sold 3,347 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 35,314 shares in the company, valued at approximately $2,076,463.20. This represents a 8.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin E. Bryant sold 48,141 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 1 shares of the company’s stock, valued at $62.93. This represents a 100.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,724 shares of company stock worth $3,777,059. Insiders own 3.26% of the company’s stock.

Evergy Stock Down 0.5 %

EVRG stock opened at $64.26 on Monday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32. Evergy, Inc. has a 1-year low of $48.04 and a 1-year high of $64.95. The firm has a fifty day moving average price of $61.51 and a two-hundred day moving average price of $57.91. The firm has a market cap of $14.78 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 2.86 and a beta of 0.62.

Evergy (NYSE:EVRG) last released its earnings results on Thursday, November 7th. The company reported $2.02 earnings per share for the quarter, beating 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 firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the firm earned $1.88 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. Research analysts predict that Evergy, Inc. will post 3.84 EPS for the current year.

Evergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.6675 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.67 annualized dividend and a dividend yield of 4.15%. This is a positive change from Evergy’s previous quarterly dividend of $0.64. Evergy’s dividend payout ratio is currently 72.16%.

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.