Cibc World Market Inc. Lowers Stock Position in Evergy, Inc. (NYSE:EVRG)

Cibc World Market Inc. cut its position in shares of Evergy, Inc. (NYSE:EVRGGet Rating) by 16.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,932 shares of the company’s stock after selling 992 shares during the quarter. Cibc World Market Inc.’s holdings in Evergy were worth $322,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in EVRG. Lansing Street Advisors purchased a new position in Evergy during the first quarter valued at $26,000. SWS Partners purchased a new position in Evergy during the first quarter valued at $27,000. Baystate Wealth Management LLC lifted its holdings in Evergy by 135.7% during the second quarter. Baystate Wealth Management LLC now owns 436 shares of the company’s stock valued at $29,000 after purchasing an additional 251 shares in the last quarter. Truvestments Capital LLC purchased a new position in Evergy during the second quarter valued at $31,000. Finally, First Bank & Trust lifted its holdings in Evergy by 69.5% during the second quarter. First Bank & Trust now owns 583 shares of the company’s stock valued at $38,000 after purchasing an additional 239 shares in the last quarter. 84.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EVRG has been the topic of several recent analyst reports. Bank of America downgraded shares of Evergy from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $64.00 to $54.00 in a report on Wednesday. Seaport Res Ptn cut shares of Evergy from a “buy” rating to a “neutral” rating in a research report on Monday. Credit Suisse Group reduced their target price on shares of Evergy from $68.00 to $61.00 and set an “outperform” rating for the company in a research report on Wednesday, October 12th. Guggenheim reduced their target price on shares of Evergy from $77.00 to $64.00 in a research report on Monday, October 24th. Finally, UBS Group reduced their target price on shares of Evergy to $65.00 in a research report on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Evergy currently has a consensus rating of “Hold” and a consensus price target of $63.17.

Evergy Price Performance

Evergy stock opened at $58.33 on Thursday. Evergy, Inc. has a 12-month low of $54.12 and a 12-month high of $73.13. The stock has a market cap of $13.39 billion, a P/E ratio of 16.86, a PEG ratio of 3.11 and a beta of 0.53. The company has a 50-day moving average price of $60.52 and a 200 day moving average price of $64.91. The company has a current ratio of 0.52, a quick ratio of 0.35 and a debt-to-equity ratio of 0.96.

Evergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 20th. Investors of record on Friday, November 18th will be given a dividend of $0.6125 per share. This is a boost from Evergy’s previous quarterly dividend of $0.57. This represents a $2.45 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend is Thursday, November 17th. Evergy’s dividend payout ratio (DPR) is presently 70.81%.

About Evergy

(Get Rating)

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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