Evergy, Inc. (NYSE:EVRG) Stake Cut by Xponance Inc.

Xponance Inc. reduced its holdings in Evergy, Inc. (NYSE:EVRG) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,724 shares of the company’s stock after selling 2,429 shares during the period. Xponance Inc.’s holdings in Evergy were worth $1,499,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Metis Global Partners LLC increased its position in Evergy by 20.5% in the 3rd quarter. Metis Global Partners LLC now owns 8,326 shares of the company’s stock worth $422,000 after purchasing an additional 1,419 shares during the last quarter. CTC Alternative Strategies Ltd. acquired a new position in Evergy in the 4th quarter worth about $1,121,000. RNC Capital Management LLC increased its position in Evergy by 8.6% in the 4th quarter. RNC Capital Management LLC now owns 586,133 shares of the company’s stock worth $30,596,000 after purchasing an additional 46,437 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Evergy by 47.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,516,817 shares of the company’s stock valued at $79,178,000 after acquiring an additional 487,322 shares during the last quarter. Finally, Creative Planning increased its holdings in shares of Evergy by 25.2% during the 3rd quarter. Creative Planning now owns 107,816 shares of the company’s stock valued at $5,466,000 after acquiring an additional 21,690 shares during the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Citigroup began coverage on Evergy in a report on Tuesday, March 26th. They set a “buy” rating and a $64.00 price objective on the stock. Barclays raised their price objective on Evergy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. Guggenheim lowered Evergy from a “buy” rating to a “neutral” rating and set a $52.00 price objective on the stock. in a report on Monday, January 22nd. Bank of America raised Evergy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $51.00 to $57.00 in a report on Wednesday, March 13th. Finally, Wells Fargo & Company decreased their price target on Evergy from $60.00 to $57.00 and set an “overweight” rating on the stock in a research note on Friday, March 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Evergy has an average rating of “Moderate Buy” and an average target price of $56.00.

Evergy Price Performance

Evergy stock opened at $52.25 on Wednesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.29 and a current ratio of 0.51. The firm has a market cap of $12.00 billion, a P/E ratio of 14.72, a P/E/G ratio of 2.72 and a beta of 0.57. The business’s fifty day moving average is $51.25 and its two-hundred day moving average is $50.97. Evergy, Inc. has a 52 week low of $46.92 and a 52 week high of $63.84.

Evergy (NYSE:EVRG) last released its earnings results on Thursday, February 29th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.46 billion. Evergy had a return on equity of 8.47% and a net margin of 13.28%. During the same quarter in the previous year, the firm earned $0.30 EPS. Equities research analysts forecast that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 11th were given a dividend of $0.6425 per share. The ex-dividend date was Friday, March 8th. This represents a $2.57 dividend on an annualized basis and a dividend yield of 4.92%. Evergy’s payout ratio is currently 80.82%.

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.