IFP Advisors Inc Grows Stock Holdings in Evergy, Inc. (NYSE:EVRG)

IFP Advisors Inc grew its stake in shares of Evergy, Inc. (NYSE:EVRG – Get Rating) by 12.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,045 shares of the company’s stock after acquiring an additional 788 shares during the period. IFP Advisors Inc’s holdings in Evergy were worth $387,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in Evergy by 1.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 14,198 shares of the company’s stock worth $969,000 after purchasing an additional 179 shares in the last quarter. Cibc World Market Inc. raised its holdings in shares of Evergy by 25.8% in the 1st quarter. Cibc World Market Inc. now owns 5,924 shares of the company’s stock valued at $405,000 after acquiring an additional 1,214 shares in the last quarter. Blair William & Co. IL boosted its position in shares of Evergy by 5.5% during the 1st quarter. Blair William & Co. IL now owns 12,622 shares of the company’s stock valued at $863,000 after acquiring an additional 657 shares during the last quarter. Sei Investments Co. raised its stake in Evergy by 28.4% in the first quarter. Sei Investments Co. now owns 322,941 shares of the company’s stock valued at $22,058,000 after purchasing an additional 71,345 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in Evergy by 1,332.5% during the first quarter. Canada Pension Plan Investment Board now owns 374,061 shares of the company’s stock valued at $25,563,000 after purchasing an additional 347,949 shares during the last quarter. 83.84% of the stock is owned by institutional investors.

Evergy Trading Down 0.9 %

NYSE EVRG opened at $62.05 on Tuesday. The company has a current ratio of 0.53, a quick ratio of 0.33 and a debt-to-equity ratio of 1.04. The stock has a 50-day moving average of $60.80 and a 200-day moving average of $61.07. The firm has a market cap of $14.25 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 3.33 and a beta of 0.50. Evergy, Inc. has a 1-year low of $54.12 and a 1-year high of $71.58.

Evergy (NYSE:EVRG – Get Rating) last issued its earnings results on Friday, May 5th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.14 billion. Evergy had a net margin of 12.85% and a return on equity of 9.17%. During the same period in the previous year, the firm earned $0.58 earnings per share. As a group, sell-side analysts forecast that Evergy, Inc. will post 3.61 EPS for the current year.

Evergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 22nd. Stockholders of record on Thursday, March 9th were given a $0.6125 dividend. The ex-dividend date of this dividend was Wednesday, March 8th. This represents a $2.45 dividend on an annualized basis and a dividend yield of 3.95%. Evergy’s dividend payout ratio is currently 73.13%.

Insider Activity

In other news, COO Kevin E. Bryant sold 22,500 shares of the firm’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $59.81, for a total value of $1,345,725.00. Following the completion of the sale, the chief operating officer now directly owns 32,993 shares of the company’s stock, valued at approximately $1,973,311.33. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on EVRG. Wells Fargo & Company reduced their target price on Evergy from $69.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Monday, January 30th. Bank of America increased their price objective on Evergy from $55.00 to $59.00 and gave the company an “underperform” rating in a research report on Friday, April 14th. Finally, TheStreet lowered Evergy from a “b” rating to a “c+” rating in a research note on Thursday, February 23rd. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Evergy has a consensus rating of “Hold” and an average target price of $62.20.

Evergy Company Profile

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Evergy, Inc is a holding company, which engages in the provision of electricity through its subsidiaries. It focuses on the regulation of electric utilities and development of electric transmission projects. The company was founded in 2017 and is headquartered in Kansas City, MO.