Evergy, Inc. (NYSE:EVRG) Stock Position Lowered by Citigroup Inc.

Citigroup Inc. lessened its position in Evergy, Inc. (NYSE:EVRG) by 0.8% in the 3rd quarter, Holdings Channel reports. The fund owned 970,993 shares of the company’s stock after selling 7,386 shares during the period. Citigroup Inc.’s holdings in Evergy were worth $60,211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its position in Evergy by 38.6% in the 2nd quarter. Millennium Management LLC now owns 3,683,000 shares of the company’s stock worth $195,089,000 after buying an additional 1,026,374 shares in the last quarter. Federated Hermes Inc. lifted its position in Evergy by 18.8% in the 2nd quarter. Federated Hermes Inc. now owns 3,490,674 shares of the company’s stock worth $184,901,000 after buying an additional 552,455 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in Evergy by 6,854.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,539,001 shares of the company’s stock worth $157,443,000 after buying an additional 2,502,493 shares in the last quarter. Zimmer Partners LP lifted its position in Evergy by 781.4% in the 1st quarter. Zimmer Partners LP now owns 2,326,385 shares of the company’s stock worth $124,182,000 after buying an additional 2,062,434 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Evergy by 42.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,135,011 shares of the company’s stock worth $132,392,000 after buying an additional 634,735 shares in the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Analysts Set New Price Targets

EVRG has been the subject of a number of research analyst reports. Mizuho initiated 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. Wells Fargo & Company increased 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. 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 on the stock in a research note on Monday, October 21st. Finally, Jefferies Financial Group started coverage on shares of Evergy in a research note on Thursday, September 19th. They set a “buy” rating and a $70.00 price target on the stock. Three research 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.88.

Insiders Place Their Bets

In other Evergy news, SVP Heather A. Humphrey sold 3,347 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $58.80, for a total value of $196,803.60. Following the sale, the senior vice president now directly owns 35,314 shares in the company, valued at $2,076,463.20. This trade represents a 8.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $3,029,513.13. Following the completion of the sale, the executive vice president now owns 1 shares in the company, valued at $62.93. This represents a 100.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,724 shares of company stock worth $3,777,059 in the last ninety days. Insiders own 0.47% of the company’s stock.

Evergy Stock Performance

NYSE:EVRG opened at $64.26 on Friday. Evergy, Inc. has a 1 year low of $48.04 and a 1 year high of $64.95. The firm’s fifty day simple moving average is $61.51 and its 200 day simple moving average is $57.89. 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 firm has a market capitalization of $14.78 billion, a PE ratio of 17.37, a PEG ratio of 2.87 and a beta of 0.62.

Evergy (NYSE:EVRG) last posted its earnings results on Thursday, November 7th. The company reported $2.02 earnings per share (EPS) 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 business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the business posted $1.88 EPS. Evergy’s revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Evergy, Inc. will post 3.84 EPS for the current year.

Evergy Increases Dividend

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