Evergy Inc. $EVRG Shares Acquired by Pinnbrook Capital Management LP

Pinnbrook Capital Management LP raised its holdings in shares of Evergy Inc. (NASDAQ:EVRG) by 127.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 66,297 shares of the company’s stock after acquiring an additional 37,094 shares during the quarter. Pinnbrook Capital Management LP’s holdings in Evergy were worth $4,570,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC purchased a new position in shares of Evergy during the fourth quarter worth approximately $257,000. Stephens Inc. AR acquired a new stake in Evergy in the first quarter valued at about $260,000. Apollon Wealth Management LLC acquired a new position in Evergy during the first quarter worth $320,000. Massachusetts Financial Services Co. MA grew its stake in shares of Evergy by 86.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 407,836 shares of the company’s stock worth $28,120,000 after purchasing an additional 189,205 shares during the period. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in Evergy in the first quarter valued at about $224,000. 87.24% of the stock is owned by hedge funds and other institutional investors.

Evergy Stock Performance

NASDAQ:EVRG opened at $76.47 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. The firm has a market cap of $17.60 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61. Evergy Inc. has a twelve month low of $59.67 and a twelve month high of $79.32. The company has a 50-day moving average of $75.71 and a 200-day moving average of $71.34.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.11). The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $2.24 billion. Evergy had a return on equity of 8.62% and a net margin of 14.29%.Evergy’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.02 EPS. Analysts forecast that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, November 21st will be paid a dividend of $0.695 per share. This is a positive change from Evergy’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 21st. This represents a $2.78 annualized dividend and a dividend yield of 3.6%. Evergy’s dividend payout ratio (DPR) is currently 76.16%.

Analyst Upgrades and Downgrades

EVRG has been the topic of several research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Evergy in a research report on Wednesday, October 8th. Barclays restated an “outperform” rating on shares of Evergy in a report on Thursday, October 9th. Wall Street Zen upgraded Evergy from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Wells Fargo & Company upgraded Evergy to a “hold” rating in a research note on Tuesday, October 28th. Finally, Citigroup increased their price target on shares of Evergy from $79.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $80.72.

Insiders Place Their Bets

In related news, SVP Lesley Lissette Elwell sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $72.33, for a total value of $578,640.00. Following the transaction, the senior vice president directly owned 499 shares of the company’s stock, valued at approximately $36,092.67. This trade represents a 94.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.42% of the stock is currently owned by company 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.