Pinnbrook Capital Management LP Buys 37,094 Shares of Evergy Inc. $EVRG

Pinnbrook Capital Management LP boosted its position in Evergy Inc. (NASDAQ:EVRG) by 127.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,297 shares of the company’s stock after purchasing 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 Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Amundi raised its holdings in Evergy by 14.2% during the 1st quarter. Amundi now owns 140,301 shares of the company’s stock valued at $9,710,000 after buying an additional 17,477 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Evergy by 16.7% in the 1st quarter. Northern Trust Corp now owns 2,737,480 shares of the company’s stock valued at $188,749,000 after purchasing an additional 392,361 shares during the period. Simplicity Wealth LLC purchased a new stake in shares of Evergy in the 2nd quarter worth about $778,000. Integrity Alliance LLC. bought a new position in shares of Evergy during the first quarter valued at approximately $319,000. Finally, Callan Family Office LLC purchased a new stake in shares of Evergy in the second quarter worth $413,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Insider Activity at Evergy

In other news, SVP Lesley Lissette Elwell sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.42% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wells Fargo & Company upgraded Evergy to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings restated a “buy (b-)” rating on shares of Evergy in a research report on Wednesday, October 8th. Wall Street Zen upgraded Evergy from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Mizuho increased their target price on shares of Evergy from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, Jefferies Financial Group boosted their price objective on Evergy from $77.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $80.72.

Evergy Trading Up 0.2%

Evergy stock opened at $76.47 on Friday. The company has a market capitalization 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 52 week low of $59.67 and a 52 week high of $79.32. The stock has a 50-day moving average price of $75.71 and a 200 day moving average price of $71.34. The company has a quick ratio of 0.27, a current ratio of 0.50 and a debt-to-equity ratio of 1.24.

Evergy (NASDAQ:EVRG) last issued its earnings results on Wednesday, November 5th. The company reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Evergy had a return on equity of 8.62% and a net margin of 14.29%.The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the company earned $2.02 EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. Sell-side analysts anticipate that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Increases Dividend

The business also recently announced 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 an increase from Evergy’s previous quarterly dividend of $0.67. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, November 21st. Evergy’s dividend payout ratio is presently 76.16%.

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.