Bayesian Capital Management LP Cuts Stock Holdings in Evergy, Inc. (NYSE:EVRG)

Bayesian Capital Management LP reduced its stake in Evergy, Inc. (NYSE:EVRG) by 41.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,900 shares of the company’s stock after selling 12,000 shares during the quarter. Bayesian Capital Management LP’s holdings in Evergy were worth $902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Captrust Financial Advisors boosted its holdings in shares of Evergy by 23.5% in the 1st quarter. Captrust Financial Advisors now owns 608,862 shares of the company’s stock worth $32,501,000 after purchasing an additional 115,659 shares in the last quarter. Energy Income Partners LLC boosted its stake in Evergy by 10.8% in the first quarter. Energy Income Partners LLC now owns 1,107,443 shares of the company’s stock worth $59,115,000 after buying an additional 108,367 shares in the last quarter. BOKF NA grew its position in Evergy by 16.1% during the first quarter. BOKF NA now owns 28,091 shares of the company’s stock valued at $1,482,000 after acquiring an additional 3,904 shares during the last quarter. Steel Grove Capital Advisors LLC raised its stake in shares of Evergy by 371.2% during the first quarter. Steel Grove Capital Advisors LLC now owns 30,063 shares of the company’s stock worth $1,605,000 after acquiring an additional 23,683 shares in the last quarter. Finally, Keeley Teton Advisors LLC lifted its holdings in shares of Evergy by 0.6% in the 1st quarter. Keeley Teton Advisors LLC now owns 37,950 shares of the company’s stock worth $2,026,000 after acquiring an additional 210 shares during the last quarter. 87.24% of the stock is currently owned by institutional investors.

Evergy Trading Up 0.9 %

EVRG traded up $0.53 during midday trading on Tuesday, reaching $57.74. 987,693 shares of the company’s stock traded hands, compared to its average volume of 2,173,258. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 18.51, a P/E/G ratio of 2.95 and a beta of 0.60. Evergy, Inc. has a 52 week low of $46.92 and a 52 week high of $60.50. The firm has a fifty day moving average of $53.85 and a two-hundred day moving average of $52.44. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.57 and a quick ratio of 0.32.

Evergy (NYSE:EVRG) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.07). The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Evergy had a return on equity of 8.32% and a net margin of 12.84%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 EPS. On average, equities analysts anticipate that Evergy, Inc. will post 3.85 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Monday, May 20th were given a $0.6425 dividend. This represents a $2.57 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend was Friday, May 17th. Evergy’s dividend payout ratio is currently 83.17%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Evergy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. Barclays boosted their target price on Evergy from $56.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, May 14th. Finally, LADENBURG THALM/SH SH initiated coverage on Evergy in a research note on Thursday, April 4th. They issued a “neutral” rating and a $51.00 price target on the stock. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.83.

Evergy Company Profile

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.