Sound Income Strategies LLC Raises Holdings in Evergy, Inc. (NASDAQ:EVRG)

Sound Income Strategies LLC increased its holdings in Evergy, Inc. (NASDAQ:EVRG) by 5,709.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 216,004 shares of the company’s stock after buying an additional 212,286 shares during the period. Sound Income Strategies LLC’s holdings in Evergy were worth $13,295,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of EVRG. Truvestments Capital LLC purchased a new position in shares of Evergy in the 3rd quarter valued at $32,000. Hexagon Capital Partners LLC boosted its position in Evergy by 47.1% during the third quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock valued at $33,000 after purchasing an additional 170 shares in the last quarter. Sentry Investment Management LLC purchased a new position in Evergy in the third quarter valued at about $51,000. USA Financial Formulas purchased a new position in Evergy in the fourth quarter valued at about $73,000. Finally, Venturi Wealth Management LLC raised its holdings in Evergy by 230.0% in the third quarter. Venturi Wealth Management LLC now owns 1,386 shares of the company’s stock worth $86,000 after purchasing an additional 966 shares in the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Insider Buying and Selling at Evergy

In related news, EVP Kevin E. Bryant sold 48,141 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $62.93, for a total value of $3,029,513.13. Following the transaction, the executive vice president now directly owns 1 shares of the company’s stock, valued at approximately $62.93. This trade represents a 100.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EVRG. Wells Fargo & Company raised their target price on shares of Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Guggenheim upgraded Evergy from a “neutral” rating to a “buy” rating in a report on Thursday. Mizuho began coverage on Evergy in a research note on Tuesday, October 29th. They set an “outperform” rating and a $67.00 target price on the stock. Barclays decreased their price target on Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Finally, LADENBURG THALM/SH SH upgraded Evergy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $59.00 to $68.50 in a research note on Thursday, January 2nd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $65.79.

Evergy Trading Up 0.3 %

Evergy stock opened at $63.06 on Friday. 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 company has a market capitalization of $14.50 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. The stock has a 50-day moving average price of $62.45 and a 200 day moving average price of $60.46.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings results on Thursday, November 7th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.95 by $0.07. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $2.35 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.88 earnings per share. Sell-side analysts anticipate that Evergy, Inc. will post 3.84 EPS for the current year.

Evergy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Thursday, November 21st were given a dividend of $0.6675 per share. The ex-dividend date was Thursday, November 21st. This is a boost from Evergy’s previous quarterly dividend of $0.64. This represents a $2.67 dividend on an annualized basis and a yield of 4.23%. Evergy’s dividend payout ratio is currently 72.16%.

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.