Swiss National Bank Reduces Holdings in Evergy, Inc. (NYSE:EVRG)

Swiss National Bank lessened its holdings in Evergy, Inc. (NYSE:EVRG) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 718,326 shares of the company’s stock after selling 20,500 shares during the period. Swiss National Bank owned 0.31% of Evergy worth $37,497,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CVA Family Office LLC purchased a new stake in Evergy in the 4th quarter valued at approximately $29,000. Itau Unibanco Holding S.A. acquired a new position in shares of Evergy in the third quarter valued at approximately $35,000. Hexagon Capital Partners LLC lifted its stake in shares of Evergy by 222.2% during the fourth quarter. Hexagon Capital Partners LLC now owns 667 shares of the company’s stock valued at $35,000 after buying an additional 460 shares during the period. MV Capital Management Inc. grew its stake in Evergy by 3,263.6% in the 4th quarter. MV Capital Management Inc. now owns 740 shares of the company’s stock worth $39,000 after acquiring an additional 718 shares during the period. Finally, Headinvest LLC acquired a new position in Evergy in the 3rd quarter valued at $40,000. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Trading Up 0.9 %

Shares of EVRG stock opened at $54.45 on Wednesday. The company has a quick ratio of 0.29, a current ratio of 0.51 and a debt-to-equity ratio of 1.14. Evergy, Inc. has a fifty-two week low of $46.92 and a fifty-two week high of $63.39. The firm’s 50 day moving average price is $51.85 and its two-hundred day moving average price is $51.22. The stock has a market cap of $12.51 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 2.82 and a beta of 0.57.

Evergy (NYSE:EVRG) last announced its quarterly 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). Evergy had a return on equity of 8.47% and a net margin of 13.28%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the company posted $0.30 earnings per share. On average, analysts anticipate that Evergy, Inc. will post 3.84 EPS for the current year.

Evergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 11th were given a dividend of $0.6425 per share. This represents a $2.57 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend was Friday, March 8th. Evergy’s dividend payout ratio (DPR) is presently 80.82%.

Analysts Set New Price Targets

EVRG has been the topic of several analyst reports. Guggenheim cut 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. Citigroup assumed coverage on Evergy in a report on Tuesday, March 26th. They issued a “buy” rating and a $64.00 price target for the company. Barclays increased their price objective on shares of Evergy from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. Wells Fargo & Company lowered their target price on shares of Evergy from $60.00 to $57.00 and set an “overweight” rating for the company in a report on Friday, March 1st. Finally, Bank of America upgraded shares of Evergy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $51.00 to $57.00 in a report on Wednesday, March 13th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Evergy currently has a consensus rating of “Moderate Buy” and an average price target of $56.00.

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.