Hsbc Holdings PLC Trims Holdings in Evergy, Inc. (NYSE:EVRG)

Hsbc Holdings PLC reduced its holdings in shares of Evergy, Inc. (NYSE:EVRG) by 24.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 840,523 shares of the company’s stock after selling 277,443 shares during the period. Hsbc Holdings PLC owned approximately 0.37% of Evergy worth $44,636,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of EVRG. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Evergy by 28.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 34,051 shares of the company’s stock worth $1,792,000 after buying an additional 7,484 shares during the last quarter. Amalgamated Bank lifted its position in Evergy by 24.2% during the 2nd quarter. Amalgamated Bank now owns 72,888 shares of the company’s stock worth $3,861,000 after acquiring an additional 14,223 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in shares of Evergy by 7.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 47,243 shares of the company’s stock valued at $2,500,000 after purchasing an additional 3,324 shares during the last quarter. Sierra Summit Advisors LLC acquired a new position in shares of Evergy in the second quarter valued at approximately $407,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Evergy by 7.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,236,343 shares of the company’s stock valued at $65,491,000 after purchasing an additional 83,035 shares during the period. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ann D. Murtlow sold 3,301 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $58.85, for a total value of $194,263.85. Following the sale, the director now directly owns 2,847 shares in the company, valued at approximately $167,545.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Evergy news, SVP Charles A. Caisley sold 9,236 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total transaction of $550,742.68. Following the completion of the transaction, 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 accessible through this link. Also, Director Ann D. Murtlow sold 3,301 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $58.85, for a total value of $194,263.85. Following the completion of the transaction, 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. Insiders sold a total of 15,884 shares of company stock worth $941,810 over the last 90 days. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

EVRG has been the topic of a number of analyst reports. UBS Group upgraded shares of Evergy to a “hold” rating in a research report on Wednesday. Jefferies Financial Group initiated coverage on shares of Evergy in a report on Thursday. They issued a “buy” rating and a $70.00 target price on the stock. Finally, Barclays boosted their price target on shares of Evergy from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Evergy Stock Performance

Shares of EVRG opened at $61.65 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.59 and a debt-to-equity ratio of 1.23. Evergy, Inc. has a 52-week low of $46.92 and a 52-week high of $62.24. The company has a 50-day simple moving average of $58.50 and a 200-day simple moving average of $54.81. The company has a market capitalization of $14.18 billion, a PE ratio of 19.95, a P/E/G ratio of 3.12 and a beta of 0.62.

Evergy (NYSE:EVRG) last issued its earnings results on Friday, August 9th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the company posted $0.81 earnings per share. Equities research analysts predict that Evergy, Inc. will post 3.85 earnings per share for the current fiscal year.

Evergy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Tuesday, August 20th were issued a $0.6425 dividend. This represents a $2.57 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend was Tuesday, August 20th. Evergy’s dividend payout ratio (DPR) is 83.17%.

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.