Wedge Capital Management L L P NC Sells 30,989 Shares of Evergy, Inc. (NASDAQ:EVRG)

Wedge Capital Management L L P NC lessened its holdings in Evergy, Inc. (NASDAQ:EVRG) by 13.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 199,158 shares of the company’s stock after selling 30,989 shares during the period. Wedge Capital Management L L P NC owned about 0.09% of Evergy worth $12,258,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in Evergy by 13.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 307,797 shares of the company’s stock worth $16,304,000 after acquiring an additional 35,940 shares during the period. Dimensional Fund Advisors LP raised its stake in Evergy by 7.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,236,343 shares of the company’s stock worth $65,491,000 after acquiring an additional 83,035 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in Evergy by 7.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 47,243 shares of the company’s stock worth $2,500,000 after acquiring an additional 3,324 shares during the period. Amalgamated Bank raised its stake in Evergy by 24.2% during the 2nd quarter. Amalgamated Bank now owns 72,888 shares of the company’s stock worth $3,861,000 after acquiring an additional 14,223 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its stake in Evergy by 28.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 34,051 shares of the company’s stock worth $1,792,000 after acquiring an additional 7,484 shares during the period. Institutional investors own 87.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EVRG. Barclays decreased their target price on shares of Evergy from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Wells Fargo & Company increased their price objective on shares of Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Mizuho started coverage on shares of Evergy in a report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 price objective for the company. Finally, LADENBURG THALM/SH SH raised shares of Evergy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $59.00 to $68.50 in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.06.

Insider Buying and Selling

In related news, EVP Kevin E. Bryant sold 48,141 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total value of $3,029,513.13. Following the completion of the sale, the executive vice president now directly owns 1 shares in the company, valued at $62.93. This trade represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.26% of the stock is owned by corporate insiders.

Evergy Trading Up 0.4 %

EVRG stock opened at $63.16 on Friday. The firm has a fifty day moving average price of $62.46 and a 200 day moving average price of $60.22. Evergy, Inc. has a fifty-two week low of $48.04 and a fifty-two week high of $65.47. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. The firm has a market cap of $14.53 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 2.62 and a beta of 0.64.

Evergy (NASDAQ:EVRG) last posted its earnings results on Thursday, November 7th. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 period last year, the firm posted $1.88 earnings per share. Evergy’s revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts anticipate that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Thursday, November 21st were given a $0.6675 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This is an increase from Evergy’s previous quarterly dividend of $0.64. This represents a $2.67 dividend on an annualized basis and a yield of 4.23%. Evergy’s dividend payout ratio (DPR) is currently 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.