Evergy Inc. $EVRG Shares Sold by Sound Income Strategies LLC

Sound Income Strategies LLC lessened its holdings in Evergy Inc. (NASDAQ:EVRG) by 3.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 220,263 shares of the company’s stock after selling 7,738 shares during the quarter. Sound Income Strategies LLC’s holdings in Evergy were worth $16,892,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. AlphaCore Capital LLC purchased a new stake in shares of Evergy during the 2nd quarter worth $33,000. CYBER HORNET ETFs LLC acquired a new stake in Evergy in the 2nd quarter valued at about $42,000. Bfsg LLC raised its position in Evergy by 82.2% during the second quarter. Bfsg LLC now owns 665 shares of the company’s stock worth $46,000 after acquiring an additional 300 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of Evergy in the second quarter valued at about $47,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Evergy during the 2nd quarter worth approximately $48,000. 87.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on EVRG shares. UBS Group upped their target price on shares of Evergy from $81.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday. Mizuho reiterated a “neutral” rating and issued a $76.00 target price (down from $86.00) on shares of Evergy in a research note on Thursday. Citigroup raised their price target on Evergy from $79.00 to $89.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Barclays reaffirmed an “outperform” rating on shares of Evergy in a research note on Thursday, October 9th. Finally, Royal Bank Of Canada raised Evergy to a “moderate buy” rating in a research report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $81.17.

Evergy Price Performance

EVRG stock opened at $72.47 on Friday. The company has a market capitalization of $16.68 billion, a PE ratio of 19.85, a P/E/G ratio of 3.14 and a beta of 0.65. The company has a quick ratio of 0.30, a current ratio of 0.52 and a debt-to-equity ratio of 1.20. The stock’s 50 day moving average is $76.13 and its two-hundred day moving average is $72.77. Evergy Inc. has a 52-week low of $59.67 and a 52-week high of $79.32.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings results 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). Evergy had a net margin of 14.45% and a return on equity of 8.66%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the company earned $2.02 earnings per share. The company’s revenue was down .1% on a year-over-year basis. Analysts predict that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, November 21st were paid a dividend of $0.695 per share. This is a boost from Evergy’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Friday, November 21st. This represents a $2.78 annualized dividend and a yield of 3.8%. Evergy’s dividend payout ratio (DPR) is presently 76.16%.

About Evergy

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company’s business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.