By otakuyassine3@gmail.com 
Evergy, Inc. (NASDAQ:EVRG – Get Free Report) was the recipient of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 8,290,000 shares, an increase of 15.8% from the November 15th total of 7,160,000 shares. Approximately 3.7% of the company’s stock are sold short. Based on an average daily trading volume, of 1,810,000 shares, the short-interest ratio is currently 4.6 days.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on EVRG. Wells Fargo & Company boosted their target price on shares of Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Barclays reduced their price target on Evergy from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Jefferies Financial Group began coverage on Evergy in a report on Thursday, September 19th. They issued a “buy” rating and a $70.00 price objective for the company. Mizuho initiated coverage on Evergy in a research report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 target price on the stock. Finally, UBS Group raised shares of Evergy to a “hold” rating in a research note on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Evergy currently has a consensus rating of “Moderate Buy” and an average price target of $61.88.
Check Out Our Latest Stock Analysis on Evergy
Insider Buying and Selling at Evergy
In other Evergy news, EVP Kevin E. Bryant sold 48,141 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total transaction of $3,029,513.13. Following the transaction, the executive vice president now directly owns 1 shares in the company, valued at approximately $62.93. This trade represents a 100.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.47% of the company’s stock.
Institutional Trading of Evergy
Institutional investors have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC raised its stake in shares of Evergy by 6,854.6% during the third quarter. Pathway Financial Advisers LLC now owns 2,539,001 shares of the company’s stock valued at $157,443,000 after purchasing an additional 2,502,493 shares in the last quarter. Mizuho Securities USA LLC boosted its holdings in shares of Evergy by 7,234.3% in the third quarter. Mizuho Securities USA LLC now owns 1,300,000 shares of the company’s stock worth $80,613,000 after buying an additional 1,282,275 shares during the period. FMR LLC raised its position in Evergy by 131.4% during the third quarter. FMR LLC now owns 2,004,414 shares of the company’s stock valued at $124,294,000 after buying an additional 1,138,138 shares during the period. Millennium Management LLC grew its position in Evergy by 38.6% during the second quarter. Millennium Management LLC now owns 3,683,000 shares of the company’s stock valued at $195,089,000 after purchasing an additional 1,026,374 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Evergy during the 2nd quarter worth about $50,044,000. Institutional investors own 87.24% of the company’s stock.
Evergy Stock Down 0.8 %
Evergy stock traded down $0.49 during mid-day trading on Monday, hitting $61.42. The company had a trading volume of 1,778,807 shares, compared to its average volume of 2,045,723. Evergy has a 1 year low of $48.04 and a 1 year high of $65.47. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15. The stock has a market cap of $14.13 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 2.77 and a beta of 0.64. The business has a fifty day moving average of $62.08 and a 200 day moving average of $58.83.
Evergy (NASDAQ:EVRG – Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.95 by $0.07. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.88 earnings per share. On average, sell-side analysts expect that Evergy will post 3.85 earnings per share for the current fiscal year.
Evergy Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from Evergy’s previous quarterly dividend of $0.64. Evergy’s payout ratio is 72.16%.
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.
Further Reading
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