Edgemoor Investment Advisors Inc. Sells 1,450 Shares of Evergy, Inc. (NYSE:EVRG)

Edgemoor Investment Advisors Inc. lowered its position in shares of Evergy, Inc. (NYSE:EVRG) by 2.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 60,026 shares of the company’s stock after selling 1,450 shares during the period. Edgemoor Investment Advisors Inc.’s holdings in Evergy were worth $3,180,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in EVRG. Fidelis Capital Partners LLC purchased a new position in shares of Evergy during the first quarter valued at approximately $32,000. Toth Financial Advisory Corp grew its position in Evergy by 199.5% during the 1st quarter. Toth Financial Advisory Corp now owns 635 shares of the company’s stock worth $34,000 after acquiring an additional 423 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Evergy during the second quarter valued at approximately $37,000. Hantz Financial Services Inc. purchased a new stake in Evergy in the second quarter worth about $41,000. Finally, Riverview Trust Co purchased a new stake in Evergy in the first quarter worth about $43,000. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Barclays raised their price target on shares of Evergy from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Evergy currently has an average rating of “Moderate Buy” and an average target price of $58.33.

Evergy Stock Performance

EVRG stock traded up $0.19 during trading on Monday, hitting $59.95. 38,553 shares of the company traded hands, compared to its average volume of 2,116,670. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.59 and a quick ratio of 0.35. Evergy, Inc. has a 1 year low of $46.92 and a 1 year high of $61.14. The stock’s 50-day simple moving average is $57.08 and its 200 day simple moving average is $54.18. The company has a market cap of $13.79 billion, a PE ratio of 16.65, a P/E/G ratio of 3.11 and a beta of 0.62.

Evergy (NYSE:EVRG) last announced its quarterly earnings data on Friday, August 9th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Evergy had a net margin of 13.12% and a return on equity of 8.50%. During the same quarter in the prior year, the company earned $0.81 EPS. On average, equities analysts expect that Evergy, Inc. will post 3.85 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, August 20th will be paid a $0.6425 dividend. This represents a $2.57 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Tuesday, August 20th. Evergy’s payout ratio is currently 83.17%.

Insider Activity

In other news, Director Ann D. Murtlow sold 3,301 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $58.85, for a total transaction of $194,263.85. Following the completion of the sale, the director now owns 2,847 shares in the company, valued at $167,545.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Charles A. Caisley sold 9,236 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.63, for a total value of $550,742.68. Following the completion of the sale, the senior vice president now owns 33,425 shares of the company’s stock, valued at $1,993,132.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann D. Murtlow sold 3,301 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $58.85, for a total transaction of $194,263.85. Following the sale, the director now directly owns 2,847 shares of the company’s stock, valued at $167,545.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,884 shares of company stock worth $941,810. 0.47% of the stock is currently owned by company 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.