Prime Capital Investment Advisors LLC Increases Stock Holdings in Evergy, Inc. (NYSE:EVRG)

Prime Capital Investment Advisors LLC increased its stake in shares of Evergy, Inc. (NYSE:EVRG) by 40.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 10,138 shares of the company’s stock after acquiring an additional 2,910 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Evergy were worth $629,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Evergy by 0.9% during the first quarter. Vanguard Group Inc. now owns 31,046,328 shares of the company’s stock worth $1,657,253,000 after acquiring an additional 288,913 shares during the last quarter. Millennium Management LLC grew its stake in Evergy by 38.6% during the 2nd quarter. Millennium Management LLC now owns 3,683,000 shares of the company’s stock valued at $195,089,000 after purchasing an additional 1,026,374 shares in the last quarter. Federated Hermes Inc. increased its holdings in Evergy by 18.8% during the 2nd quarter. Federated Hermes Inc. now owns 3,490,674 shares of the company’s stock worth $184,901,000 after purchasing an additional 552,455 shares during the last quarter. Pathway Financial Advisers LLC raised its position in shares of Evergy by 6,854.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,539,001 shares of the company’s stock valued at $157,443,000 after purchasing an additional 2,502,493 shares in the last quarter. Finally, Zimmer Partners LP boosted its stake in shares of Evergy by 781.4% during the 1st quarter. Zimmer Partners LP now owns 2,326,385 shares of the company’s stock valued at $124,182,000 after buying an additional 2,062,434 shares during the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Evergy Stock Up 1.5 %

NYSE:EVRG opened at $63.76 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.32 and a debt-to-equity ratio of 1.15. The stock has a 50 day moving average of $61.14 and a 200-day moving average of $57.49. The firm has a market capitalization of $14.66 billion, a PE ratio of 17.23, a price-to-earnings-growth ratio of 2.82 and a beta of 0.62. Evergy, Inc. has a 52 week low of $48.04 and a 52 week high of $64.07.

Evergy (NYSE:EVRG) last announced its quarterly earnings results on Thursday, November 7th. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.07. The company 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%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.88 earnings per share. Analysts predict that Evergy, Inc. will post 3.84 EPS for the current year.

Evergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Thursday, November 21st. This is a boost from Evergy’s previous quarterly dividend of $0.64. Evergy’s payout ratio is 69.46%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Barclays cut their price target on shares of Evergy from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. 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 target price on the stock. UBS Group upgraded Evergy to a “hold” rating in a research note on Wednesday, September 18th. Wells Fargo & Company boosted their price objective on Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Mizuho assumed coverage on Evergy in a report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Evergy currently has an average rating of “Moderate Buy” and an average price target of $61.88.

Insider Transactions at Evergy

In other Evergy news, SVP Charles A. Caisley sold 9,236 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $59.63, for a total transaction of $550,742.68. Following the sale, the senior vice president now directly owns 33,425 shares in the company, valued at approximately $1,993,132.75. The trade was a 21.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kevin E. Bryant sold 48,141 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 1 shares of the company’s stock, valued at $62.93. This trade represents a 100.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,724 shares of company stock worth $3,777,059. Company insiders own 0.47% of the company’s stock.

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.