ArrowMark Colorado Holdings LLC Boosts Holdings in Evergy, Inc. (NYSE:EVRG)

ArrowMark Colorado Holdings LLC grew its stake in Evergy, Inc. (NYSE:EVRG) by 12.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 237,000 shares of the company’s stock after purchasing an additional 27,000 shares during the quarter. ArrowMark Colorado Holdings LLC’s holdings in Evergy were worth $14,696,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of EVRG. Fairscale Capital LLC purchased a new position in Evergy in the 2nd quarter valued at about $27,000. Truvestments Capital LLC acquired a new position in shares of Evergy during the third quarter valued at approximately $32,000. Hexagon Capital Partners LLC lifted its position in shares of Evergy by 47.1% in the third quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock valued at $33,000 after acquiring an additional 170 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of Evergy in the second quarter worth approximately $37,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Evergy during the second quarter worth approximately $41,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Evergy Stock Performance

NYSE:EVRG opened at $63.61 on Tuesday. The company’s 50-day moving average is $61.82 and its two-hundred day moving average is $58.23. The firm has a market capitalization of $14.63 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 2.88 and a beta of 0.64. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32. Evergy, Inc. has a 1-year low of $48.04 and a 1-year high of $65.47.

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

Evergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, November 21st will be given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.20%. This is an increase from Evergy’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, November 21st. Evergy’s dividend payout ratio (DPR) is presently 72.16%.

Insider Activity at Evergy

In related news, EVP Kevin E. Bryant sold 48,141 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $62.93, for a total transaction of $3,029,513.13. Following the completion of the transaction, the executive vice president now owns 1 shares of the company’s stock, valued at approximately $62.93. This trade represents a 100.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

EVRG has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. UBS Group upgraded shares of Evergy to a “hold” rating in a research report on Wednesday, September 18th. Barclays dropped their price objective on shares of Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Mizuho began coverage on shares of Evergy in a research note on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 target price on the stock. Finally, Jefferies Financial Group began coverage on Evergy in a research report on Thursday, September 19th. They issued a “buy” rating and a $70.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.88.

Evergy 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.