Cullinan Associates Inc. Sells 8,803 Shares of Evergy, Inc. (NYSE:EVRG)

Cullinan Associates Inc. cut its holdings in Evergy, Inc. (NYSE:EVRG) by 38.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,000 shares of the company’s stock after selling 8,803 shares during the period. Cullinan Associates Inc.’s holdings in Evergy were worth $857,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Manning & Napier Advisors LLC purchased a new stake in shares of Evergy in the 2nd quarter worth approximately $112,464,000. Wedge Capital Management L L P NC grew its position in Evergy by 8.0% during the second quarter. Wedge Capital Management L L P NC now owns 260,331 shares of the company’s stock valued at $13,790,000 after buying an additional 19,193 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in Evergy by 11.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 316,455 shares of the company’s stock valued at $16,892,000 after purchasing an additional 31,985 shares in the last quarter. Jennison Associates LLC purchased a new position in Evergy during the first quarter valued at $37,526,000. Finally, Entropy Technologies LP lifted its stake in shares of Evergy by 129.2% in the first quarter. Entropy Technologies LP now owns 36,838 shares of the company’s stock worth $1,966,000 after buying an additional 20,764 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors.

Evergy Price Performance

Shares of NYSE:EVRG traded down $0.22 on Friday, reaching $61.42. 116,563 shares of the company were exchanged, compared to its average volume of 2,063,696. The firm has a market cap of $14.12 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 2.65 and a beta of 0.62. Evergy, Inc. has a 1-year low of $47.97 and a 1-year high of $62.58. The company has a 50-day moving average of $60.34 and a 200-day moving average of $56.39. The company has a current ratio of 0.59, a quick ratio of 0.35 and a debt-to-equity ratio of 1.23.

Evergy (NYSE:EVRG) last released its earnings results on Friday, August 9th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.32 billion. Evergy had a net margin of 13.12% and a return on equity of 8.50%. During the same period in the prior year, the firm earned $0.81 EPS. Equities analysts forecast that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.6425 per share. The ex-dividend date was Tuesday, August 20th. This represents a $2.57 annualized dividend and a dividend yield of 4.18%. Evergy’s payout ratio is currently 83.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on EVRG shares. Barclays decreased their price target on shares of Evergy from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday. Jefferies Financial Group initiated coverage on shares of Evergy in a research report on Thursday, September 19th. They set a “buy” rating and a $70.00 price target for the company. 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 research report on Wednesday, October 16th. Finally, UBS Group upgraded shares of Evergy to a “hold” rating in a research report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Evergy currently has an average rating of “Moderate Buy” and an average price target of $61.14.

Insider Transactions at Evergy

In related news, Director Ann D. Murtlow sold 3,301 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $58.85, for a total transaction of $194,263.85. Following the completion of the sale, the director now owns 2,847 shares of the company’s stock, valued at approximately $167,545.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Ann D. Murtlow sold 3,301 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $58.85, for a total transaction of $194,263.85. Following the completion of the sale, the director now owns 2,847 shares of the company’s stock, valued at approximately $167,545.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Heather A. Humphrey sold 3,347 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $58.80, for a total transaction of $196,803.60. Following the sale, the senior vice president now directly owns 35,314 shares of the company’s stock, valued at approximately $2,076,463.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,884 shares of company stock worth $941,810 in the last three months. Company insiders own 0.47% of the company’s stock.

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.