Raymond James Financial Services Advisors Inc. Lowers Position in Evergy, Inc. (NYSE:EVRG)

Raymond James Financial Services Advisors Inc. reduced its stake in Evergy, Inc. (NYSE:EVRG – Get Rating) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,591 shares of the company’s stock after selling 512 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Evergy were worth $2,366,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of EVRG. PNC Financial Services Group Inc. raised its position in Evergy by 1.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 14,198 shares of the company’s stock valued at $969,000 after buying an additional 179 shares during the last quarter. Cibc World Market Inc. boosted its stake in Evergy by 25.8% in the 1st quarter. Cibc World Market Inc. now owns 5,924 shares of the company’s stock worth $405,000 after purchasing an additional 1,214 shares during the period. 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. boosted its position in shares of Evergy by 28.4% during the 1st quarter. Sei Investments Co. now owns 322,941 shares of the company’s stock valued at $22,058,000 after acquiring an additional 71,345 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Evergy by 1,332.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 374,061 shares of the company’s stock valued at $25,563,000 after buying an additional 347,949 shares in the last quarter. 83.84% of the stock is owned by hedge funds and other institutional investors.

Evergy Price Performance

Shares of NYSE EVRG opened at $58.75 on Wednesday. The firm has a market capitalization of $13.49 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 3.17 and a beta of 0.50. Evergy, Inc. has a fifty-two week low of $54.12 and a fifty-two week high of $71.58. The stock’s 50-day simple moving average is $61.24 and its 200-day simple moving average is $61.10. 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 (NYSE:EVRG – Get Rating) last posted its earnings results on Friday, May 5th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 9.13% and a net margin of 13.03%. During the same period in the previous year, the business earned $0.58 earnings per share. As a group, equities research analysts forecast that Evergy, Inc. will post 3.6 EPS for the current fiscal year.

Evergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Investors 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 annualized dividend and a yield of 4.17%. Evergy’s payout ratio is currently 73.13%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, 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 value of $1,345,725.00. Following the completion of the sale, the chief operating officer now owns 32,993 shares of the company’s stock, valued at $1,973,311.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Sandra Aj Lawrence sold 2,523 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $62.32, for a total transaction of $157,233.36. Following the completion of 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 filing with the SEC, which is accessible through this hyperlink. Also, COO Kevin E. Bryant sold 22,500 shares of the firm’s stock in a transaction on Thursday, March 9th. The stock was 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 disclosure for this sale can be found here. 3.08% of the stock is currently owned by insiders.

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.