Synovus Financial Corp Has $1.08 Million Holdings in Evergy, Inc. (NASDAQ:EVRG)

Synovus Financial Corp boosted its stake in Evergy, Inc. (NASDAQ:EVRG) by 97.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 17,420 shares of the company’s stock after acquiring an additional 8,604 shares during the period. Synovus Financial Corp’s holdings in Evergy were worth $1,080,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Sunbelt Securities Inc. increased its stake in Evergy by 2.2% in the third quarter. Sunbelt Securities Inc. now owns 7,778 shares of the company’s stock valued at $482,000 after purchasing an additional 168 shares in the last quarter. Hexagon Capital Partners LLC increased 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 acquiring an additional 170 shares in the last quarter. Empirical Finance LLC raised its position in shares of Evergy by 2.3% during the third quarter. Empirical Finance LLC now owns 7,751 shares of the company’s stock worth $481,000 after purchasing an additional 171 shares during the period. Blue Trust Inc. lifted its holdings in shares of Evergy by 16.3% in the 2nd quarter. Blue Trust Inc. now owns 1,483 shares of the company’s stock worth $79,000 after purchasing an additional 208 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in Evergy by 1.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 18,563 shares of the company’s stock valued at $1,138,000 after purchasing an additional 212 shares during the period. 87.24% of the stock is owned by institutional investors.

Insider Buying and Selling at Evergy

In other Evergy news, EVP Kevin E. Bryant sold 48,141 shares of the business’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 sale, the executive vice president now owns 1 shares of the company’s stock, valued at $62.93. The trade was a 100.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.47% of the company’s stock.

Evergy Price Performance

Shares of NASDAQ:EVRG opened at $61.42 on Tuesday. The company has a market capitalization of $14.13 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. Evergy, Inc. has a fifty-two week low of $48.04 and a fifty-two week high of $65.47. The company’s 50-day moving average is $62.11 and its 200 day moving average is $58.89.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data 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. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company earned $1.88 earnings per share. On average, equities research analysts forecast that Evergy, Inc. will post 3.85 earnings per share for the current year.

Evergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, November 21st will be paid a $0.6675 dividend. This is a boost from Evergy’s previous quarterly dividend of $0.64. This represents a $2.67 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date is Thursday, November 21st. Evergy’s payout ratio is currently 72.16%.

Analysts Set New Price Targets

EVRG has been the topic of a number of recent research reports. Jefferies Financial Group assumed coverage on shares of Evergy in a research note on Thursday, September 19th. They issued a “buy” rating and a $70.00 price objective on the stock. Barclays decreased their price objective on Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Mizuho began coverage on Evergy in a research report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 target price on the stock. Wells Fargo & Company increased their price target on Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, UBS Group raised shares of Evergy to a “hold” rating in a report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Evergy has a consensus rating of “Moderate Buy” and a consensus price target of $61.88.

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.