Davis Capital Management Takes Position in Evergy, Inc. (NASDAQ:EVRG)

Davis Capital Management acquired a new stake in shares of Evergy, Inc. (NASDAQ:EVRG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,048 shares of the company’s stock, valued at approximately $680,000.

Other hedge funds have also made changes to their positions in the company. Truvestments Capital LLC acquired a new position in shares of Evergy during the 3rd quarter valued at about $32,000. Hexagon Capital Partners LLC increased its holdings in shares of Evergy by 47.1% during the 3rd quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock valued at $33,000 after acquiring an additional 170 shares during the last quarter. Sentry Investment Management LLC acquired a new position in shares of Evergy during the 3rd quarter valued at about $51,000. USA Financial Formulas acquired a new position in shares of Evergy during the 4th quarter valued at about $73,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of Evergy by 230.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,386 shares of the company’s stock valued at $86,000 after acquiring an additional 966 shares during the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.

Insider Buying and Selling

In related news, EVP Kevin E. Bryant sold 48,141 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 1 shares in the company, valued at $62.93. This trade represents a 100.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EVRG. Mizuho began coverage on Evergy in a report on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 target price on the stock. LADENBURG THALM/SH SH raised Evergy from a “neutral” rating to a “buy” rating and raised their target price for the company from $59.00 to $68.50 in a report on Thursday, January 2nd. Barclays lowered their target price on Evergy from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Finally, Wells Fargo & Company raised their target price on Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $64.06.

Evergy Price Performance

Shares of EVRG stock opened at $63.63 on Wednesday. The stock has a 50 day moving average of $62.46 and a two-hundred day moving average of $60.42. The company has a current ratio of 0.55, a quick ratio of 0.32 and a debt-to-equity ratio of 1.15. Evergy, Inc. has a 12 month low of $48.04 and a 12 month high of $65.47. The company has a market capitalization of $14.63 billion, a P/E ratio of 17.20, a P/E/G ratio of 2.76 and a beta of 0.64.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data on Thursday, November 7th. The company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 8.77% and a net margin of 14.77%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $1.88 EPS. As a group, equities analysts expect that Evergy, Inc. will post 3.84 EPS for the current year.

Evergy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Thursday, November 21st were given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Thursday, November 21st. This is an increase from Evergy’s previous quarterly dividend of $0.64. Evergy’s dividend payout ratio (DPR) is 72.16%.

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.