Chevy Chase Trust Holdings LLC Lowers Stock Position in Evergy, Inc. (NASDAQ:EVRG)

Chevy Chase Trust Holdings LLC decreased its position in Evergy, Inc. (NASDAQ:EVRG) by 1.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 123,293 shares of the company’s stock after selling 2,225 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Evergy worth $7,645,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Wedge Capital Management L L P NC grew its position in shares of Evergy by 8.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 260,331 shares of the company’s stock valued at $13,790,000 after acquiring an additional 19,193 shares during the period. Cetera Investment Advisers increased its position in shares of Evergy by 66.3% in the first quarter. Cetera Investment Advisers now owns 51,538 shares of the company’s stock valued at $2,751,000 after buying an additional 20,538 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Evergy by 13.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 307,797 shares of the company’s stock worth $16,304,000 after buying an additional 35,940 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Evergy by 60.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 44,024 shares of the company’s stock valued at $2,332,000 after buying an additional 16,619 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Evergy by 49.2% in the 2nd quarter. Victory Capital Management Inc. now owns 1,178,289 shares of the company’s stock valued at $62,414,000 after acquiring an additional 388,625 shares during the period. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Stock Up 0.0 %

Shares of EVRG opened at $63.32 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 stock has a fifty day simple moving average of $61.95 and a two-hundred day simple moving average of $58.42. The company has a market capitalization of $14.56 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 2.81 and a beta of 0.64.

Evergy (NASDAQ:EVRG) last released its quarterly earnings data on Thursday, November 7th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.07. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. Evergy’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $1.88 earnings per share. As a group, equities analysts forecast that Evergy, Inc. will post 3.85 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 $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.22%. This is a positive change from Evergy’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, November 21st. Evergy’s dividend payout ratio is presently 72.16%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, EVP Kevin E. Bryant sold 48,141 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 1 shares in the company, valued at approximately $62.93. This represents a 100.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is owned by insiders.

About Evergy

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.