Evergy (NYSE:EVRG) Sees Large Volume Increase

Evergy, Inc. (NYSE:EVRGGet Rating) saw unusually-strong trading volume on Friday . Approximately 211,621 shares traded hands during mid-day trading, a decline of 89% from the previous session’s volume of 1,898,259 shares.The stock last traded at $58.05 and had previously closed at $58.19.

Analyst Ratings Changes

Several equities analysts have recently weighed in on EVRG shares. Wells Fargo & Company reduced their target price on shares of Evergy from $72.00 to $63.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 19th. Credit Suisse Group reduced their price objective on shares of Evergy from $68.00 to $61.00 and set an “outperform” rating for the company in a research note on Wednesday, October 12th. Guggenheim reduced their price objective on shares of Evergy from $77.00 to $64.00 in a research note on Monday, October 24th. Seaport Res Ptn reaffirmed a “buy” rating on shares of Evergy in a research note on Monday, October 24th. Finally, Bank of America reduced their price objective on shares of Evergy from $74.00 to $68.00 in a research note on Wednesday, September 28th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $66.33.

Evergy Trading Up 0.8 %

The firm has a market capitalization of $13.46 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 3.10 and a beta of 0.53. The company has a quick ratio of 0.35, a current ratio of 0.52 and a debt-to-equity ratio of 0.96. The firm’s 50-day simple moving average is $61.18 and its 200-day simple moving average is $65.11.

Evergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 20th. Shareholders of record on Friday, November 18th will be given a dividend of $0.6125 per share. The ex-dividend date is Thursday, November 17th. This is a positive change from Evergy’s previous quarterly dividend of $0.57. This represents a $2.45 annualized dividend and a yield of 4.18%. Evergy’s payout ratio is presently 70.81%.

Institutional Investors Weigh In On Evergy

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Evergy by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 29,339,970 shares of the company’s stock worth $2,005,093,000 after acquiring an additional 509,404 shares during the last quarter. State Street Corp lifted its holdings in shares of Evergy by 1.3% in the 3rd quarter. State Street Corp now owns 14,645,186 shares of the company’s stock worth $869,924,000 after acquiring an additional 194,152 shares during the last quarter. Capital International Investors lifted its holdings in shares of Evergy by 40.7% in the 1st quarter. Capital International Investors now owns 13,048,060 shares of the company’s stock worth $891,704,000 after acquiring an additional 3,777,012 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Evergy by 6.3% in the 2nd quarter. Franklin Resources Inc. now owns 4,368,058 shares of the company’s stock worth $285,015,000 after acquiring an additional 259,680 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Evergy by 1.5% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,508,324 shares of the company’s stock worth $228,919,000 after acquiring an additional 53,476 shares during the last quarter. 84.37% of the stock is currently owned by institutional investors.

About Evergy

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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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