Truvestments Capital LLC Buys New Stake in Evergy, Inc. (NYSE:EVRG)

Truvestments Capital LLC purchased a new stake in Evergy, Inc. (NYSE:EVRG) during the third quarter, according to its most recent filing with the SEC. The fund purchased 518 shares of the company’s stock, valued at approximately $32,000.

Several other hedge funds have also bought and sold shares of EVRG. Manning & Napier Advisors LLC purchased a new stake in Evergy during the second quarter valued at $112,464,000. Wedge Capital Management L L P NC raised its position in shares of Evergy by 8.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 260,331 shares of the company’s stock valued at $13,790,000 after buying an additional 19,193 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Evergy by 66.3% during the 1st quarter. Cetera Investment Advisers now owns 51,538 shares of the company’s stock valued at $2,751,000 after buying an additional 20,538 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Evergy by 13.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 307,797 shares of the company’s stock valued at $16,304,000 after acquiring an additional 35,940 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Evergy by 60.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 44,024 shares of the company’s stock worth $2,332,000 after acquiring an additional 16,619 shares during the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Evergy Stock Performance

Evergy stock opened at $65.00 on Thursday. 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 company has a market capitalization of $14.95 billion, a PE ratio of 17.64, a P/E/G ratio of 2.87 and a beta of 0.62. The company has a 50 day moving average price of $61.62 and a 200-day moving average price of $58.04. Evergy, Inc. has a fifty-two week low of $48.04 and a fifty-two week high of $65.47.

Evergy (NYSE:EVRG) last issued its earnings results on Thursday, November 7th. The company reported $2.02 earnings per share 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 analysts’ expectations of $2.35 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.88 EPS. As a group, equities analysts forecast that Evergy, Inc. will post 3.84 earnings per share for the current year.

Evergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.6675 per share. This is an increase from Evergy’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, November 21st. This represents a $2.67 dividend on an annualized basis and a yield of 4.11%. Evergy’s dividend payout ratio (DPR) is 72.16%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on EVRG shares. Mizuho initiated coverage on Evergy in a research note on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 price objective for the company. Wells Fargo & Company lifted their price objective 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. Barclays reduced 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. 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 for the company. Finally, UBS Group raised shares of Evergy to a “hold” rating in a research report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.88.

Insider Activity

In other news, EVP Kevin E. Bryant sold 48,141 shares of the business’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 transaction, the executive vice president now directly owns 1 shares of the company’s stock, valued at approximately $62.93. The trade was a 100.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Charles A. Caisley sold 9,236 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total value of $550,742.68. Following the sale, the senior vice president now owns 33,425 shares of the company’s stock, valued at $1,993,132.75. This trade represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

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.