Impact Partnership Wealth LLC Takes Position in Evergy, Inc. (NASDAQ:EVRG)

Impact Partnership Wealth LLC acquired a new position in shares of Evergy, Inc. (NASDAQ:EVRG) during the fourth quarter, HoldingsChannel reports. The firm acquired 5,376 shares of the company’s stock, valued at approximately $331,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Truvestments Capital LLC bought a new position in Evergy during the 3rd quarter worth about $32,000. Hexagon Capital Partners LLC boosted its position in shares of Evergy by 47.1% during the third quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock worth $33,000 after buying an additional 170 shares during the period. Sentry Investment Management LLC bought a new position in shares of Evergy during the third quarter worth about $51,000. USA Financial Formulas acquired a new stake in Evergy in the 4th quarter valued at approximately $73,000. Finally, Venturi Wealth Management LLC lifted its stake in Evergy by 230.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,386 shares of the company’s stock valued at $86,000 after acquiring an additional 966 shares in the last quarter. 87.24% of the stock is owned by institutional investors.

Evergy Trading Up 0.7 %

Shares of NASDAQ:EVRG opened at $63.52 on Friday. Evergy, Inc. has a 52-week low of $48.04 and a 52-week high of $65.47. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. The company has a market capitalization of $14.61 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. The company has a 50-day simple moving average of $62.45 and a 200 day simple moving average of $60.53.

Evergy (NASDAQ:EVRG) last issued its earnings results on Thursday, November 7th. The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.95 by $0.07. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $2.35 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.88 EPS. Sell-side analysts forecast that Evergy, Inc. will post 3.84 earnings per share 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 issued a $0.6675 dividend. This is an increase from Evergy’s previous quarterly dividend of $0.64. This represents a $2.67 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Thursday, November 21st. Evergy’s payout ratio is currently 72.16%.

Insider Transactions at Evergy

In other news, EVP Kevin E. Bryant sold 48,141 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was 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 owns 1 shares of the company’s stock, valued at approximately $62.93. This represents a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.47% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.