Cwm LLC Trims Stake in Evergy, Inc. (NYSE:EVRG)

Cwm LLC lowered its holdings in Evergy, Inc. (NYSE:EVRG) by 8.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 310,030 shares of the company’s stock after selling 27,019 shares during the period. Cwm LLC’s holdings in Evergy were worth $16,184,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Evergy by 85.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 41,076 shares of the company’s stock valued at $2,144,000 after buying an additional 18,910 shares during the period. Signaturefd LLC raised its holdings in shares of Evergy by 309.5% in the 4th quarter. Signaturefd LLC now owns 4,095 shares of the company’s stock valued at $214,000 after buying an additional 3,095 shares during the period. abrdn plc raised its holdings in shares of Evergy by 15.6% in the 4th quarter. abrdn plc now owns 76,481 shares of the company’s stock valued at $3,992,000 after buying an additional 10,297 shares during the period. J.W. Cole Advisors Inc. raised its holdings in shares of Evergy by 3.2% in the 4th quarter. J.W. Cole Advisors Inc. now owns 16,222 shares of the company’s stock valued at $847,000 after buying an additional 497 shares during the period. Finally, Federated Hermes Inc. raised its holdings in shares of Evergy by 41.3% in the 4th quarter. Federated Hermes Inc. now owns 2,942,415 shares of the company’s stock valued at $153,594,000 after buying an additional 860,433 shares during the period. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Analyst Ratings Changes

EVRG has been the topic of several research analyst reports. LADENBURG THALM/SH SH initiated coverage on Evergy in a report on Thursday, April 4th. They issued a “neutral” rating and a $51.00 price objective on the stock. Bank of America upgraded Evergy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $51.00 to $57.00 in a report on Wednesday, March 13th. Citigroup began coverage on Evergy in a research note on Tuesday, March 26th. They set a “buy” rating and a $64.00 target price for the company. Wells Fargo & Company lowered their target price on Evergy from $60.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday, March 1st. Finally, Barclays boosted their target price on Evergy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, March 14th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Evergy has a consensus rating of “Moderate Buy” and an average price target of $56.00.

Evergy Trading Up 1.6 %

EVRG opened at $51.76 on Monday. The business has a fifty day moving average price of $51.14 and a 200 day moving average price of $50.92. The stock has a market capitalization of $11.89 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 2.70 and a beta of 0.57. Evergy, Inc. has a 12 month low of $46.92 and a 12 month high of $63.84. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.51 and a quick ratio of 0.29.

Evergy (NYSE:EVRG) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.03). The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.46 billion. Evergy had a return on equity of 8.47% and a net margin of 13.28%. During the same period in the prior year, the company posted $0.30 earnings per share. Sell-side analysts expect that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Announces Dividend

The firm also recently disclosed 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 of this dividend was Friday, March 8th. This represents a $2.57 annualized dividend and a dividend yield of 4.97%. Evergy’s dividend 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.