Evergy Inc. $EVRG Stock Position Cut by Teilinger Capital Ltd.

Teilinger Capital Ltd. trimmed its position in shares of Evergy Inc. (NASDAQ:EVRG) by 9.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 680,000 shares of the company’s stock after selling 70,000 shares during the quarter. Evergy comprises about 45.7% of Teilinger Capital Ltd.’s investment portfolio, making the stock its largest holding. Teilinger Capital Ltd. owned approximately 0.30% of Evergy worth $46,872,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nuveen LLC purchased a new stake in Evergy during the first quarter valued at approximately $212,132,000. Magellan Asset Management Ltd lifted its holdings in shares of Evergy by 1,418.7% during the 2nd quarter. Magellan Asset Management Ltd now owns 2,364,493 shares of the company’s stock valued at $162,985,000 after purchasing an additional 2,208,799 shares during the last quarter. Maple Brown Abbott Ltd acquired a new stake in shares of Evergy in the 1st quarter worth $63,444,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in Evergy by 44.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,470,917 shares of the company’s stock worth $170,320,000 after buying an additional 760,301 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Evergy by 1.7% in the second quarter. Vanguard Group Inc. now owns 30,966,777 shares of the company’s stock valued at $2,134,540,000 after buying an additional 521,310 shares during the last quarter. 87.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Lesley Lissette Elwell sold 8,000 shares of the firm’s stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.42% of the company’s stock.

Evergy Stock Performance

NASDAQ EVRG opened at $77.12 on Tuesday. The firm has a market capitalization of $17.75 billion, a P/E ratio of 21.21, a PEG ratio of 3.56 and a beta of 0.61. The stock has a 50-day simple moving average of $76.26 and a two-hundred day simple moving average of $71.69. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.50. Evergy Inc. has a fifty-two week low of $59.67 and a fifty-two week high of $79.32.

Evergy (NASDAQ:EVRG) last posted its 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). Evergy had a return on equity of 8.62% and a net margin of 14.29%.The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the business earned $2.02 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. On average, equities analysts forecast that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, November 21st will be issued a dividend of $0.695 per share. This represents a $2.78 dividend on an annualized basis and a yield of 3.6%. This is a boost from Evergy’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 21st. Evergy’s payout ratio is currently 76.16%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on EVRG shares. Mizuho upped their price objective on shares of Evergy from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Barclays reaffirmed an “outperform” rating on shares of Evergy in a report on Thursday, October 9th. Jefferies Financial Group upped their target price on Evergy from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Evergy in a research note on Wednesday, October 8th. Finally, Citigroup boosted their price target on Evergy from $79.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $80.72.

Evergy 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.