Evergy (NYSE:EVRG) Sees Significant Decline in Short Interest

Evergy (NYSE:EVRG) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 3,750,000 shares, a decrease of 8.3% from the December 15th total of 4,090,000 shares. Based on an average daily trading volume, of 2,100,000 shares, the days-to-cover ratio is presently 1.8 days. Currently, 1.7% of the company’s stock are sold short.

A number of brokerages recently weighed in on EVRG. Zacks Investment Research downgraded shares of Evergy from a “strong-buy” rating to a “hold” rating and set a $77.00 price target on the stock. in a report on Thursday. ValuEngine downgraded shares of Evergy from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. UBS Group dropped their price objective on shares of Evergy from $68.00 to $67.00 and set a “neutral” rating on the stock in a report on Friday, October 18th. Finally, Bank of America downgraded shares of Evergy from a “neutral” rating to an “underperform” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Evergy currently has an average rating of “Hold” and an average price target of $68.83.

In other news, COO Kevin E. Bryant sold 4,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $64.56, for a total transaction of $258,240.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anthony D. Somma sold 2,000 shares of Evergy stock in a transaction on Monday, November 18th. The stock was sold at an average price of $64.96, for a total value of $129,920.00. Following the sale, the chief financial officer now owns 50,636 shares in the company, valued at $3,289,314.56. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock valued at $774,730 in the last quarter. 0.38% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. D.A. Davidson & CO. boosted its stake in shares of Evergy by 2.5% during the third quarter. D.A. Davidson & CO. now owns 6,439 shares of the company’s stock valued at $429,000 after purchasing an additional 160 shares during the period. Mondrian Investment Partners LTD lifted its stake in Evergy by 25.0% in the third quarter. Mondrian Investment Partners LTD now owns 829 shares of the company’s stock worth $55,000 after acquiring an additional 166 shares during the period. 6 Meridian lifted its stake in Evergy by 2.2% in the third quarter. 6 Meridian now owns 8,810 shares of the company’s stock worth $586,000 after acquiring an additional 187 shares during the period. Prudential PLC lifted its stake in Evergy by 0.9% in the second quarter. Prudential PLC now owns 21,735 shares of the company’s stock worth $1,307,000 after acquiring an additional 189 shares during the period. Finally, Usca Ria LLC lifted its stake in Evergy by 0.5% in the third quarter. Usca Ria LLC now owns 46,593 shares of the company’s stock worth $3,101,000 after acquiring an additional 230 shares during the period. Hedge funds and other institutional investors own 86.35% of the company’s stock.

NYSE EVRG traded up $0.57 during trading on Thursday, hitting $67.17. 998,834 shares of the company’s stock traded hands, compared to its average volume of 1,885,511. The stock has a market capitalization of $14.94 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 3.24 and a beta of 0.13. Evergy has a 12-month low of $54.57 and a 12-month high of $67.81. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.51 and a current ratio of 0.73. The business has a 50 day moving average of $63.69 and a 200-day moving average of $63.52.

Evergy (NYSE:EVRG) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.59 by ($0.02). Evergy had a net margin of 11.97% and a return on equity of 6.96%. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the company earned $1.38 earnings per share. On average, analysts expect that Evergy will post 2.89 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Wednesday, November 27th were given a dividend of $0.505 per share. The ex-dividend date was Tuesday, November 26th. This is a boost from Evergy’s previous quarterly dividend of $0.48. This represents a $2.02 annualized dividend and a dividend yield of 3.01%. Evergy’s dividend payout ratio is currently 75.66%.

Evergy Company Profile

Westar Energy, Inc engages in the generation, transmission and distribution of electricity in Kansas. It provides electricity to residential, commercial, and industrial customers in the cities of Topeka, Lawrence, Manhattan, Salina, and Hutchinson. The company was founded in 1924 and is headquartered in Topeka, KS.

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