Edgestream Partners L.P. Has $8.75 Million Position in Evergy, Inc. (NYSE:EVRG)

Edgestream Partners L.P. lifted its holdings in Evergy, Inc. (NYSE:EVRG) by 657.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 141,155 shares of the company’s stock after acquiring an additional 122,512 shares during the quarter. Evergy comprises about 0.4% of Edgestream Partners L.P.’s investment portfolio, making the stock its 17th largest position. Edgestream Partners L.P.’s holdings in Evergy were worth $8,753,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of EVRG. Fairscale Capital LLC acquired a new stake in Evergy during the 2nd quarter worth about $27,000. Truvestments Capital LLC purchased a new stake in shares of Evergy in the third quarter worth approximately $32,000. Hexagon Capital Partners LLC boosted 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 worth $33,000 after purchasing an additional 170 shares during the period. Rothschild Investment LLC purchased a new position in Evergy during the second quarter valued at approximately $37,000. Finally, Hantz Financial Services Inc. purchased a new position in Evergy during the second quarter valued at approximately $41,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Insider Buying and Selling

In related news, SVP Charles A. Caisley sold 9,236 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.63, for a total transaction of $550,742.68. Following the transaction, the senior vice president now owns 33,425 shares of the company’s stock, valued at approximately $1,993,132.75. The trade was a 21.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction 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. The trade was a 100.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on EVRG shares. 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 note on Monday, October 21st. Jefferies Financial Group started coverage on Evergy in a research note on Thursday, September 19th. They set a “buy” rating and a $70.00 price target for the company. UBS Group raised Evergy to a “hold” rating in a research note on Wednesday, September 18th. Wells Fargo & Company raised their price objective on shares of Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, 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. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Evergy has an average rating of “Moderate Buy” and an average price target of $61.88.

Evergy Stock Down 0.6 %

Shares of Evergy stock opened at $64.63 on Friday. Evergy, Inc. has a 12-month low of $48.04 and a 12-month high of $65.47. The stock has a market capitalization of $14.86 billion, a P/E ratio of 17.47, a PEG ratio of 2.89 and a beta of 0.62. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15. The stock has a 50 day moving average price of $61.76 and a two-hundred day moving average price of $58.13.

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, 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 net margin of 14.77% and a return on equity of 8.77%. Evergy’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 EPS. Equities analysts expect that Evergy, Inc. will post 3.84 earnings per share for the current year.

Evergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, November 21st will be paid a $0.6675 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This is a positive change from Evergy’s previous quarterly dividend of $0.64. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.13%. Evergy’s payout ratio is presently 72.16%.

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.