Summit Global Investments Trims Holdings in Evergy Inc. $EVRG

Summit Global Investments lessened its holdings in Evergy Inc. (NASDAQ:EVRG) by 53.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 92,676 shares of the company’s stock after selling 108,532 shares during the period. Summit Global Investments’ holdings in Evergy were worth $6,388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Clearstead Trust LLC acquired a new position in Evergy during the first quarter valued at $32,000. AlphaCore Capital LLC acquired a new stake in Evergy during the second quarter valued at $33,000. Cary Street Partners Investment Advisory LLC purchased a new position in Evergy in the first quarter valued at $34,000. Bfsg LLC raised its position in shares of Evergy by 82.2% in 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 period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Evergy during the 2nd quarter worth about $48,000. Institutional investors and hedge funds own 87.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Barclays reissued an “outperform” rating on shares of Evergy in a report on Thursday, October 9th. Royal Bank Of Canada raised shares of Evergy to a “moderate buy” rating in a research note on Tuesday, October 28th. Wells Fargo & Company upgraded shares of Evergy to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Evergy in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Evergy from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $80.72.

Evergy Stock Up 0.2%

Shares of NASDAQ EVRG opened at $75.85 on Monday. The company has a current ratio of 0.50, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average of $76.17 and a 200 day moving average of $71.62. Evergy Inc. has a 12-month low of $59.67 and a 12-month high of $79.32. The stock has a market cap of $17.46 billion, a PE ratio of 20.84, a P/E/G ratio of 3.56 and a beta of 0.61.

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

Evergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, November 21st will be issued a $0.695 dividend. This is a boost from Evergy’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 21st. This represents a $2.78 annualized dividend and a yield of 3.7%. Evergy’s payout ratio is 76.16%.

Insider Transactions at Evergy

In other news, SVP Lesley Lissette Elwell sold 8,000 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $72.33, for a total transaction of $578,640.00. Following the completion of the transaction, the senior vice president directly owned 499 shares in the company, valued at $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 the SEC website. 1.42% of the stock is currently owned by insiders.

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.