LSV Asset Management Sells 34,434 Shares of Evergy Inc. $EVRG

LSV Asset Management trimmed its stake in Evergy Inc. (NASDAQ:EVRG) by 11.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 257,266 shares of the company’s stock after selling 34,434 shares during the period. LSV Asset Management’s holdings in Evergy were worth $17,733,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Clearstead Trust LLC purchased a new position in shares of Evergy during the first quarter valued at $32,000. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Evergy in the 1st quarter worth approximately $34,000. Investment Management Corp VA ADV lifted its position in shares of Evergy by 168.4% in the 1st quarter. Investment Management Corp VA ADV now owns 569 shares of the company’s stock worth $39,000 after purchasing an additional 357 shares during the period. Bfsg LLC boosted its stake in shares of Evergy by 82.2% during the second quarter. Bfsg LLC now owns 665 shares of the company’s stock valued at $46,000 after purchasing an additional 300 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in Evergy during the first quarter valued at approximately $48,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Evergy Stock Performance

NASDAQ EVRG opened at $75.62 on Thursday. Evergy Inc. has a 1-year low of $59.67 and a 1-year high of $79.32. The stock has a 50-day moving average of $76.03 and a two-hundred day moving average of $71.52. The company has a market cap of $17.41 billion, a P/E ratio of 20.77, a P/E/G ratio of 3.56 and a beta of 0.61. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.50 and a quick ratio of 0.27.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.11). The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Evergy had a net margin of 14.29% and a return on equity of 8.62%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.02 EPS. As a group, analysts anticipate that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, November 21st will be paid a dividend of $0.695 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.78 annualized dividend and a yield of 3.7%. This is a boost from Evergy’s previous quarterly dividend of $0.67. Evergy’s dividend payout ratio (DPR) is currently 76.16%.

Analyst Ratings Changes

EVRG has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Evergy in a research report on Wednesday, October 8th. Barclays restated an “outperform” rating on shares of Evergy in a research note on Thursday, October 9th. Mizuho increased their price objective on Evergy from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Wells Fargo & Company upgraded Evergy to a “hold” rating in a research note on Tuesday, October 28th. Finally, Citigroup increased their price target on shares of Evergy from $79.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Evergy has an average rating of “Buy” and an average target price of $80.72.

Insider Buying and Selling at Evergy

In other Evergy news, SVP Lesley Lissette Elwell sold 8,000 shares of Evergy stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $72.33, for a total value of $578,640.00. Following the sale, the senior vice president owned 499 shares of the company’s stock, valued at approximately $36,092.67. The trade was a 94.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.42% of the stock is currently owned by corporate insiders.

Evergy 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.