Evergy, Inc. (NYSE:EVRG) Shares Sold by CI Investments Inc.

Posted by Defense World Staff on May 25th, 2023

CI Investments Inc. decreased its holdings in shares of Evergy, Inc. (NYSE:EVRG – Get Rating) by 24.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,965 shares of the company’s stock after selling 947 shares during the quarter. CI Investments Inc.’s holdings in Evergy were worth $187,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Evergy by 90.2% during the fourth quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 10,529 shares of the company’s stock worth $663,000 after purchasing an additional 4,994 shares during the last quarter. Jupiter Asset Management Ltd. raised its position in shares of Evergy by 649.0% in the 4th quarter. Jupiter Asset Management Ltd. now owns 448,525 shares of the company’s stock worth $28,226,000 after buying an additional 388,645 shares during the period. abrdn plc raised its position in shares of Evergy by 2.9% in the 4th quarter. abrdn plc now owns 56,057 shares of the company’s stock worth $3,528,000 after buying an additional 1,587 shares during the period. Bank of Nova Scotia raised its position in shares of Evergy by 307.3% in the 4th quarter. Bank of Nova Scotia now owns 82,098 shares of the company’s stock worth $5,166,000 after buying an additional 61,940 shares during the period. Finally, Cibc World Markets Corp raised its position in shares of Evergy by 674.8% in the 4th quarter. Cibc World Markets Corp now owns 26,985 shares of the company’s stock worth $1,698,000 after buying an additional 23,502 shares during the period. Institutional investors and hedge funds own 83.84% of the company’s stock.

Evergy Trading Down 0.9 %

NYSE:EVRG opened at $58.20 on Thursday. The business’s 50-day moving average is $61.20 and its two-hundred day moving average is $61.07. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.52 and a quick ratio of 0.31. Evergy, Inc. has a 12 month low of $54.12 and a 12 month high of $71.58. The firm has a market capitalization of $13.37 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 3.14 and a beta of 0.50.

Evergy (NYSE:EVRG – Get Rating) last announced its earnings results on Friday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. Evergy had a return on equity of 9.13% and a net margin of 13.03%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the company earned $0.58 earnings per share. Research analysts predict that Evergy, Inc. will post 3.6 earnings per share for the current fiscal year.

Evergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Friday, May 19th will be given a dividend of $0.6125 per share. This represents a $2.45 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend is Thursday, May 18th. Evergy’s payout ratio is 73.13%.

Insider Transactions at Evergy

In related news, COO Kevin E. Bryant sold 22,500 shares of Evergy 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 transaction, the chief operating officer now directly owns 32,993 shares in the company, valued at $1,973,311.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Sandra Aj Lawrence sold 2,523 shares of Evergy stock in a transaction dated Friday, May 12th. The stock was 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 $29,913.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Kevin E. Bryant sold 22,500 shares of Evergy 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 transaction, the chief operating officer now owns 32,993 shares of the company’s stock, valued at $1,973,311.33. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on EVRG shares. Bank of America increased their target price on Evergy from $55.00 to $59.00 and gave the stock an “underperform” rating in a research report on Friday, April 14th. 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. Finally, TheStreet lowered Evergy from a “b” rating to a “c+” rating in a research report on Thursday, February 23rd. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.