DGS Capital Management LLC Increases Holdings in Evergy, Inc. (NASDAQ:EVRG)

DGS Capital Management LLC raised its stake in Evergy, Inc. (NASDAQ:EVRG) by 16.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,487 shares of the company’s stock after purchasing an additional 619 shares during the quarter. DGS Capital Management LLC’s holdings in Evergy were worth $278,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its position in Evergy by 21.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 19,944 shares of the company’s stock worth $1,056,000 after acquiring an additional 3,550 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Evergy by 3.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 14,778 shares of the company’s stock valued at $783,000 after purchasing an additional 541 shares during the period. Blue Trust Inc. grew its holdings in Evergy by 16.3% during the 2nd quarter. Blue Trust Inc. now owns 1,483 shares of the company’s stock valued at $79,000 after purchasing an additional 208 shares in the last quarter. Brookstone Capital Management increased its stake in Evergy by 12.2% during the 2nd quarter. Brookstone Capital Management now owns 26,870 shares of the company’s stock worth $1,485,000 after buying an additional 2,925 shares during the period. Finally, Raymond James & Associates increased its stake in Evergy by 2.0% during the 2nd quarter. Raymond James & Associates now owns 52,348 shares of the company’s stock worth $2,773,000 after buying an additional 1,037 shares during the period. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Stock Down 0.3 %

EVRG stock opened at $61.91 on Friday. The firm has a market cap of $14.24 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 2.77 and a beta of 0.64. Evergy, Inc. has a 1-year low of $48.04 and a 1-year high of $65.47. The firm has a fifty day moving average price of $62.08 and a two-hundred day moving average price of $58.75. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings results on Thursday, November 7th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.95 by $0.07. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $2.35 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.88 EPS. Research analysts predict that Evergy, Inc. will post 3.85 EPS for the current year.

Evergy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders 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 dividend yield of 4.31%. This is a boost from Evergy’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, November 21st. Evergy’s dividend payout ratio is presently 72.16%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EVRG. Wells Fargo & Company raised their target price on Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Mizuho began coverage on Evergy in a research note on Tuesday, October 29th. They set an “outperform” rating and a $67.00 price objective for the company. Barclays cut their target price on Evergy from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Jefferies Financial Group initiated coverage on Evergy in a research note on Thursday, September 19th. They set a “buy” rating and a $70.00 target price for the company. Finally, UBS Group upgraded 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $61.88.

Insider Buying and Selling

In other news, EVP Kevin E. Bryant sold 48,141 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $62.93, for a total transaction of $3,029,513.13. Following the completion of the transaction, the executive vice president now owns 1 shares in the company, valued at approximately $62.93. This represents a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.47% of the company’s stock.

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.