ArrowMark Colorado Holdings LLC Purchases 27,000 Shares of Evergy, Inc. (NYSE:EVRG)

ArrowMark Colorado Holdings LLC raised its position in shares of Evergy, Inc. (NYSE:EVRG) by 12.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 237,000 shares of the company’s stock after buying an additional 27,000 shares during the quarter. ArrowMark Colorado Holdings LLC owned about 0.10% of Evergy worth $14,696,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Fairscale Capital LLC purchased a new position in Evergy during the 2nd quarter worth $27,000. Truvestments Capital LLC acquired a new stake in Evergy in the third quarter worth about $32,000. Hexagon Capital Partners LLC grew its stake in shares of Evergy by 47.1% during the third quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock worth $33,000 after acquiring an additional 170 shares during the last quarter. Rothschild Investment LLC purchased a new stake in shares of Evergy during the second quarter worth about $37,000. Finally, Hantz Financial Services Inc. acquired a new position in shares of Evergy during the second quarter valued at about $41,000. 87.24% of the stock is currently owned by institutional investors.

Evergy Stock Performance

NYSE EVRG opened at $63.61 on Tuesday. The firm has a market capitalization of $14.63 billion, a P/E ratio of 17.33, a PEG ratio of 2.88 and a beta of 0.64. The stock has a 50-day simple moving average of $61.82 and a two-hundred day simple moving average of $58.23. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. Evergy, Inc. has a fifty-two week low of $48.04 and a fifty-two week high of $65.47.

Evergy (NYSE:EVRG) last announced its quarterly earnings results on Thursday, November 7th. The company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.07. Evergy had a return on equity of 8.77% and a net margin of 14.77%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period last year, the business earned $1.88 earnings per share. Evergy’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts forecast that Evergy, Inc. will post 3.84 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 20th. Investors of record on Thursday, November 21st will be issued a dividend of $0.6675 per share. The ex-dividend date is Thursday, November 21st. This is an increase from Evergy’s previous quarterly dividend of $0.64. This represents a $2.67 dividend on an annualized basis and a yield of 4.20%. Evergy’s dividend payout ratio is 72.16%.

Insider Activity at Evergy

In related news, EVP Kevin E. Bryant sold 48,141 shares of Evergy stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total value of $3,029,513.13. Following the completion of the transaction, the executive vice president now owns 1 shares in the company, valued at $62.93. The trade was a 100.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Evergy from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Mizuho began coverage on shares of Evergy in a research note on Tuesday, October 29th. They set an “outperform” rating and a $67.00 price objective for the company. Jefferies Financial Group started coverage on Evergy in a research report on Thursday, September 19th. They issued a “buy” rating and a $70.00 target price on the stock. UBS Group raised Evergy to a “hold” rating in a research report on Wednesday, September 18th. Finally, Barclays cut their price objective on Evergy from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $61.88.

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.