Mackenzie Financial Corp Cuts Holdings in Evergy Inc. $EVRG

Mackenzie Financial Corp cut its holdings in Evergy Inc. (NASDAQ:EVRG) by 66.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,888 shares of the company’s stock after selling 274,598 shares during the quarter. Mackenzie Financial Corp owned 0.06% of Evergy worth $9,574,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EVRG. Clearstead Trust LLC acquired a new stake in Evergy in the first quarter valued at $32,000. AlphaCore Capital LLC purchased a new position in shares of Evergy in the 2nd quarter valued at about $33,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Evergy in the first quarter valued at about $34,000. Bfsg LLC boosted its holdings in Evergy by 82.2% during the second quarter. Bfsg LLC now owns 665 shares of the company’s stock worth $46,000 after buying an additional 300 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new position in Evergy during the first quarter worth about $48,000. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Stock Performance

Evergy stock opened at $74.53 on Wednesday. Evergy Inc. has a fifty-two week low of $59.67 and a fifty-two week high of $79.32. The company has a market capitalization of $17.16 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 3.27 and a beta of 0.65. The stock has a fifty day moving average of $76.79 and a two-hundred day moving average of $72.15. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.30 and a current ratio of 0.52.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $2.03 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 14.45% and a return on equity of 8.66%. The firm’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business earned $2.02 EPS. On average, analysts anticipate that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, November 21st will be paid a dividend of $0.695 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.78 annualized dividend and a dividend yield of 3.7%. This is an increase from Evergy’s previous quarterly dividend of $0.67. Evergy’s dividend payout ratio is 76.16%.

Wall Street Analyst Weigh In

EVRG has been the subject of a number of research reports. Citigroup lifted their price target on shares of Evergy from $79.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Mizuho lifted their price objective on Evergy from $74.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Wall Street Zen raised Evergy from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Royal Bank Of Canada raised Evergy to a “moderate buy” rating in a research note on Tuesday, October 28th. Finally, Jefferies Financial Group boosted their price objective on shares of Evergy from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $80.72.

Insider Activity at Evergy

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 shares were sold at an average price of $72.33, for a total transaction of $578,640.00. Following the sale, the senior vice president owned 499 shares in the company, valued at approximately $36,092.67. This trade represents a 94.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.