Belpointe Asset Management LLC Takes Position in Evergy, Inc. (NYSE:EVRG)

Belpointe Asset Management LLC bought a new stake in Evergy, Inc. (NYSE:EVRG – Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,193 shares of the company’s stock, valued at approximately $75,000.

Other institutional investors also recently modified their holdings of the company. Armstrong Advisory Group Inc. bought a new position in Evergy in the 4th quarter worth approximately $33,000. Motco boosted its stake in Evergy by 40.1% in the 3rd quarter. Motco now owns 699 shares of the company’s stock worth $42,000 after purchasing an additional 200 shares during the period. Glass Jacobson Investment Advisors llc bought a new stake in Evergy during the 4th quarter worth about $64,000. Cowa LLC bought a new stake in Evergy during the 3rd quarter worth about $71,000. Finally, Covington Capital Management lifted its position in Evergy by 42.5% during the 3rd quarter. Covington Capital Management now owns 1,522 shares of the company’s stock worth $90,000 after buying an additional 454 shares in the last quarter. Institutional investors own 83.84% of the company’s stock.

Insider Activity

In other Evergy news, Director Sandra Aj Lawrence sold 2,523 shares of the company’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $62.32, for a total value of $157,233.36. Following the completion of the transaction, the director now directly owns 480 shares in the company, valued at approximately $29,913.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Sandra Aj Lawrence sold 2,523 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $62.32, for a total value of $157,233.36. Following the sale, the director now directly owns 480 shares of the company’s stock, valued at approximately $29,913.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Kevin E. Bryant sold 22,500 shares of the company’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $59.81, for a total transaction of $1,345,725.00. Following the completion of the sale, the chief operating officer now directly owns 32,993 shares in the company, valued at $1,973,311.33. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

Evergy Stock Performance

Shares of EVRG stock opened at $59.28 on Friday. The firm has a market cap of $13.62 billion, a price-to-earnings ratio of 17.70, a P/E/G ratio of 3.17 and a beta of 0.50. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.31 and a current ratio of 0.52. Evergy, Inc. has a 52 week low of $54.12 and a 52 week high of $71.58. The firm’s 50-day simple moving average is $61.26 and its two-hundred day simple moving average is $61.14.

Evergy (NYSE:EVRG – Get Rating) last posted its quarterly earnings results on Friday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.14 billion. Evergy had a net margin of 13.03% and a return on equity of 9.13%. During the same quarter in the previous year, the firm posted $0.58 earnings per share. As a group, equities analysts forecast that Evergy, Inc. will post 3.6 earnings per share for the current year.

Evergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Friday, May 19th will be paid a $0.6125 dividend. The ex-dividend date is Thursday, May 18th. This represents a $2.45 dividend on an annualized basis and a dividend yield of 4.13%. Evergy’s dividend payout ratio (DPR) is 73.13%.

Analysts Set New Price Targets

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

About Evergy

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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.