Bank of Nova Scotia Sells 262,804 Shares of Evergy, Inc. (NYSE:EVRG)

Bank of Nova Scotia lowered its holdings in Evergy, Inc. (NYSE:EVRGGet Rating) by 92.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 20,287 shares of the company’s stock after selling 262,804 shares during the period. Bank of Nova Scotia’s holdings in Evergy were worth $1,323,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in Evergy by 15.8% in the 2nd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,840 shares of the company’s stock valued at $512,000 after buying an additional 1,072 shares during the last quarter. Kentucky Retirement Systems grew its holdings in Evergy by 16.5% in the 2nd quarter. Kentucky Retirement Systems now owns 17,032 shares of the company’s stock valued at $1,111,000 after buying an additional 2,416 shares during the last quarter. Texas Permanent School Fund grew its holdings in Evergy by 1.9% in the 2nd quarter. Texas Permanent School Fund now owns 30,310 shares of the company’s stock valued at $1,978,000 after buying an additional 568 shares during the last quarter. State of Michigan Retirement System grew its holdings in Evergy by 10.4% in the 2nd quarter. State of Michigan Retirement System now owns 70,981 shares of the company’s stock valued at $4,632,000 after buying an additional 6,700 shares during the last quarter. Finally, ING Groep NV grew its holdings in Evergy by 18.7% in the 2nd quarter. ING Groep NV now owns 43,183 shares of the company’s stock valued at $2,818,000 after buying an additional 6,803 shares during the last quarter. Institutional investors and hedge funds own 84.37% of the company’s stock.

Evergy Price Performance

Shares of EVRG stock opened at $58.65 on Friday. The stock’s fifty day simple moving average is $61.18 and its 200 day simple moving average is $65.12. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.52 and a quick ratio of 0.35. The firm has a market cap of $13.46 billion, a price-to-earnings ratio of 16.95, a P/E/G ratio of 3.16 and a beta of 0.53. Evergy, Inc. has a one year low of $54.12 and a one year high of $73.13.

Evergy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 20th. Investors of record on Friday, November 18th will be paid a $0.6125 dividend. This is a positive change from Evergy’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $2.45 annualized dividend and a yield of 4.18%. Evergy’s payout ratio is currently 66.18%.

Analyst Upgrades and Downgrades

EVRG has been the topic of a number of research analyst reports. Credit Suisse Group lowered their target price on Evergy from $68.00 to $61.00 and set an “outperform” rating on the stock in a report on Wednesday, October 12th. Guggenheim decreased their price objective on Evergy from $77.00 to $64.00 in a report on Monday, October 24th. Bank of America decreased their price objective on Evergy from $74.00 to $68.00 in a report on Wednesday, September 28th. Seaport Res Ptn reissued a “buy” rating on shares of Evergy in a report on Monday, October 24th. Finally, Wells Fargo & Company decreased their price objective on Evergy from $72.00 to $63.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 19th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $66.33.

Evergy Company Profile

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Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Kansas and Missouri, the United States. It generates electricity through coal, hydroelectric, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources.

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Institutional Ownership by Quarter for Evergy (NYSE:EVRG)

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