Hudson Bay Capital Management LP Reduces Position in Evergy Inc. $EVRG

Hudson Bay Capital Management LP reduced its position in shares of Evergy Inc. (NASDAQ:EVRG) by 9.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 334,248 shares of the company’s stock after selling 36,758 shares during the period. Hudson Bay Capital Management LP’s holdings in Evergy were worth $23,040,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of EVRG. IHT Wealth Management LLC increased its holdings in shares of Evergy by 1.0% in the 2nd quarter. IHT Wealth Management LLC now owns 20,528 shares of the company’s stock valued at $1,415,000 after acquiring an additional 212 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in Evergy by 22.7% in the second quarter. EP Wealth Advisors LLC now owns 9,444 shares of the company’s stock valued at $651,000 after buying an additional 1,750 shares during the last quarter. Energy Income Partners LLC grew its position in shares of Evergy by 35.0% during the second quarter. Energy Income Partners LLC now owns 1,085,254 shares of the company’s stock worth $74,807,000 after acquiring an additional 281,099 shares during the last quarter. BTG Pactual Asset Management US LLC purchased a new position in shares of Evergy during the second quarter worth approximately $2,698,000. Finally, Brevan Howard Capital Management LP increased its holdings in shares of Evergy by 6.3% in the 2nd quarter. Brevan Howard Capital Management LP now owns 61,486 shares of the company’s stock valued at $4,238,000 after acquiring an additional 3,637 shares during the period. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Insider Activity

In related news, SVP Lesley Lissette Elwell sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $72.33, for a total value of $578,640.00. Following the sale, the senior vice president owned 499 shares of the company’s stock, valued at approximately $36,092.67. This represents a 94.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.42% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on EVRG. Barclays reissued an “outperform” rating on shares of Evergy in a research report on Thursday, October 9th. Wells Fargo & Company raised Evergy to a “hold” rating in a report on Tuesday, October 28th. Wall Street Zen downgraded Evergy from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Evergy in a research note on Thursday, December 4th. Finally, Citigroup increased their price target on Evergy from $79.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $80.72.

Evergy Price Performance

EVRG stock opened at $73.80 on Friday. The company has a market cap of $16.99 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 3.18 and a beta of 0.65. The company has a current ratio of 0.52, a quick ratio of 0.30 and a debt-to-equity ratio of 1.20. The firm has a 50 day moving average of $76.54 and a 200-day moving average of $72.47. Evergy Inc. has a 12-month low of $59.67 and a 12-month high of $79.32.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.11). The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $2.24 billion. Evergy had a return on equity of 8.66% and a net margin of 14.45%.The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.02 earnings per share. As a group, equities analysts expect that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, November 21st will be given a $0.695 dividend. This is a boost from Evergy’s previous quarterly dividend of $0.67. This represents a $2.78 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, November 21st. Evergy’s dividend payout ratio (DPR) is currently 76.16%.

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.