Shell Asset Management Co. Cuts Stock Holdings in Evergy, Inc. (NYSE:EVRG)

Posted by on May 5th, 2023

Shell Asset Management Co. reduced its stake in Evergy, Inc. (NYSE:EVRG – Get Rating) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,997 shares of the company’s stock after selling 826 shares during the period. Shell Asset Management Co.’s holdings in Evergy were worth $566,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Armstrong Advisory Group Inc. bought a new stake in shares of Evergy in the fourth quarter worth about $33,000. Motco raised its holdings in shares of Evergy by 40.1% during the 3rd quarter. Motco now owns 699 shares of the company’s stock worth $42,000 after acquiring an additional 200 shares in the last quarter. Glass Jacobson Investment Advisors llc bought a new position in shares of Evergy during the 4th quarter valued at approximately $64,000. Cowa LLC purchased a new position in shares of Evergy in the third quarter valued at $71,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in Evergy by 487.6% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,275 shares of the company’s stock worth $76,000 after purchasing an additional 1,058 shares during the last quarter. Hedge funds and other institutional investors own 83.84% of the company’s stock.

Insider Activity at Evergy

In other Evergy news, COO Kevin E. Bryant sold 22,500 shares of the company’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 in the company, valued at approximately $1,973,311.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

EVRG has been the topic of several recent research reports. Bank of America upped their target price on shares of Evergy from $55.00 to $59.00 and gave the company an “underperform” rating in a research report on Friday, April 14th. TheStreet cut Evergy from a “b” rating to a “c+” rating in a report on Thursday, February 23rd. Finally, Wells Fargo & Company cut their target price 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 analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, Evergy currently has an average rating of “Hold” and an average target price of $62.20.

Evergy Price Performance

EVRG opened at $62.18 on Friday. The business has a fifty day moving average of $60.73 and a 200 day moving average of $60.96. The stock has a market cap of $14.28 billion, a P/E ratio of 16.45, a PEG ratio of 3.29 and a beta of 0.50. The company has a quick ratio of 0.33, a current ratio of 0.53 and a debt-to-equity ratio of 1.04. Evergy, Inc. has a 52-week low of $54.12 and a 52-week high of $71.58.

Evergy (NYSE:EVRG – Get Rating) last issued its earnings results on Friday, February 24th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.08. Evergy had a net margin of 12.85% and a return on equity of 9.17%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $956.63 million. During the same period in the previous year, the firm earned $0.16 earnings per share. The business’s revenue was up 14.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Evergy, Inc. will post 3.61 EPS for the current year.

Evergy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 22nd. Stockholders of record on Thursday, March 9th were paid a dividend of $0.6125 per share. This represents a $2.45 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend was Wednesday, March 8th. Evergy’s dividend payout ratio is presently 75.15%.

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.

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Institutional Ownership by Quarter for Evergy (NYSE:EVRG)

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