D.B. Root & Company LLC Sells 297 Shares of Evergy, Inc. (NASDAQ:EVRG)

D.B. Root & Company LLC reduced its holdings in shares of Evergy, Inc. (NASDAQ:EVRG) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,950 shares of the company’s stock after selling 297 shares during the period. D.B. Root & Company LLC’s holdings in Evergy were worth $305,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its holdings in Evergy by 13.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 307,797 shares of the company’s stock worth $16,304,000 after purchasing an additional 35,940 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Evergy by 7.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,236,343 shares of the company’s stock worth $65,491,000 after buying an additional 83,035 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of Evergy by 115.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 188,000 shares of the company’s stock valued at $9,958,000 after buying an additional 100,800 shares in the last quarter. AE Wealth Management LLC grew its stake in shares of Evergy by 253.9% during the 2nd quarter. AE Wealth Management LLC now owns 26,837 shares of the company’s stock valued at $1,422,000 after acquiring an additional 19,253 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in Evergy by 4.8% in the 2nd quarter. Pacer Advisors Inc. now owns 16,374 shares of the company’s stock worth $867,000 after acquiring an additional 750 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on EVRG shares. Wells Fargo & Company lifted their price target on shares of Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. LADENBURG THALM/SH SH raised shares of Evergy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $59.00 to $68.50 in a report on Thursday, January 2nd. Mizuho assumed coverage on Evergy in a research note on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 price target for the company. Finally, Barclays lowered their price objective on Evergy from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Evergy presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.79.

Evergy Stock Down 1.2 %

EVRG opened at $62.87 on Thursday. Evergy, Inc. has a 52 week low of $48.04 and a 52 week high of $65.47. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15. The firm has a 50-day simple moving average of $62.45 and a two-hundred day simple moving average of $60.44. The company has a market capitalization of $14.46 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64.

Evergy (NASDAQ:EVRG) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.07. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.88 EPS. Analysts forecast that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Thursday, November 21st were paid a dividend of $0.6675 per share. This is an increase from Evergy’s previous quarterly dividend of $0.64. The ex-dividend date was Thursday, November 21st. This represents a $2.67 dividend on an annualized basis and a yield of 4.25%. Evergy’s dividend payout ratio is presently 72.16%.

Insider Buying and Selling at Evergy

In other Evergy news, EVP Kevin E. Bryant sold 48,141 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total transaction of $3,029,513.13. Following the sale, the executive vice president now directly owns 1 shares in the company, valued at $62.93. This represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.47% of the stock is owned by company insiders.

Evergy Company Profile

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in the United States. The company generates electricity through coal, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources. It serves residences, commercial firms, industrials, municipalities, and other electric utilities.