Evergy, Inc. (NYSE:EVRG) Sees Significant Decrease in Short Interest

Evergy, Inc. (NYSE:EVRGGet Rating) saw a large decrease in short interest in December. As of December 30th, there was short interest totalling 1,780,000 shares, a decrease of 5.3% from the December 15th total of 1,880,000 shares. Based on an average daily volume of 2,060,000 shares, the short-interest ratio is currently 0.9 days. Approximately 0.8% of the company’s shares are short sold.

Wall Street Analyst Weigh In

EVRG has been the subject of several recent research reports. Bank of America downgraded shares of Evergy from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $64.00 to $54.00 in a research note on Wednesday, November 23rd. Wells Fargo & Company boosted their target price on Evergy to $69.00 in a research note on Wednesday, December 14th. Credit Suisse Group cut Evergy from an “outperform” rating to an “underperform” rating and dropped their target price for the company from $61.00 to $57.00 in a report on Tuesday, November 29th. Seaport Res Ptn downgraded Evergy from a “buy” rating to a “neutral” rating in a research report on Monday, November 21st. Finally, Guggenheim decreased their target price on shares of Evergy from $77.00 to $64.00 in a research note on Monday, October 24th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat, Evergy currently has an average rating of “Hold” and a consensus target price of $61.80.

Evergy Stock Up 2.0 %

Shares of NYSE:EVRG opened at $61.35 on Wednesday. The stock’s 50-day moving average is $61.41 and its 200 day moving average is $63.51. The company has a market cap of $14.08 billion, a PE ratio of 16.66, a P/E/G ratio of 3.10 and a beta of 0.48. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.52 and a quick ratio of 0.35. Evergy has a 1 year low of $54.12 and a 1 year high of $73.13.

Evergy (NYSE:EVRGGet Rating) last posted its earnings results on Friday, November 4th. The company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.12. The firm had revenue of $1.91 billion for the quarter. Evergy had a return on equity of 8.89% and a net margin of 14.01%. Sell-side analysts anticipate that Evergy will post 3.59 EPS for the current year.

Evergy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 20th. Shareholders of record on Friday, November 18th were issued a $0.6125 dividend. The ex-dividend date was Thursday, November 17th. This is a positive change from Evergy’s previous quarterly dividend of $0.57. This represents a $2.45 annualized dividend and a yield of 3.99%. Evergy’s dividend payout ratio is 70.81%.

Institutional Investors Weigh In On Evergy

A number of large investors have recently modified their holdings of EVRG. Arizona State Retirement System boosted its position in shares of Evergy by 0.3% during the second quarter. Arizona State Retirement System now owns 63,999 shares of the company’s stock valued at $4,176,000 after purchasing an additional 171 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Evergy by 1.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 14,198 shares of the company’s stock worth $969,000 after buying an additional 179 shares during the period. Garner Asset Management Corp increased its stake in shares of Evergy by 2.4% in the 2nd quarter. Garner Asset Management Corp now owns 8,141 shares of the company’s stock worth $531,000 after acquiring an additional 191 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Evergy by 16.5% in the 2nd quarter. Larson Financial Group LLC now owns 1,348 shares of the company’s stock worth $88,000 after acquiring an additional 191 shares in the last quarter. Finally, Czech National Bank lifted its position in Evergy by 0.7% during the 4th quarter. Czech National Bank now owns 26,867 shares of the company’s stock valued at $1,691,000 after acquiring an additional 193 shares during the period. Institutional investors own 83.84% of the company’s stock.

About Evergy

(Get Rating)

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Kansas and Missouri, the United States. It generates electricity through coal, hydroelectric, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources.

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