Intech Investment Management LLC Reduces Stake in Evergy, Inc. (NASDAQ:EVRG)

Intech Investment Management LLC lowered its holdings in Evergy, Inc. (NASDAQ:EVRG) by 64.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 38,107 shares of the company’s stock after selling 70,519 shares during the quarter. Intech Investment Management LLC’s holdings in Evergy were worth $2,345,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of EVRG. FMR LLC lifted its holdings in Evergy by 131.4% in the 3rd quarter. FMR LLC now owns 2,004,414 shares of the company’s stock worth $124,294,000 after buying an additional 1,138,138 shares during the period. SG Americas Securities LLC lifted its holdings in Evergy by 15,406.4% in the 4th quarter. SG Americas Securities LLC now owns 921,546 shares of the company’s stock worth $56,721,000 after buying an additional 915,603 shares during the period. Brandes Investment Partners LP purchased a new stake in Evergy in the 4th quarter worth approximately $55,652,000. Charles Schwab Investment Management Inc. lifted its holdings in Evergy by 42.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,135,011 shares of the company’s stock worth $132,392,000 after buying an additional 634,735 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in shares of Evergy by 25.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,848,735 shares of the company’s stock valued at $176,650,000 after purchasing an additional 583,923 shares during the period. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on EVRG. LADENBURG THALM/SH SH upgraded Evergy to a “strong-buy” rating in a research note on Monday. Barclays raised their target price on Evergy from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Finally, Guggenheim upgraded Evergy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $68.42.

Evergy Stock Up 0.3 %

Shares of NASDAQ:EVRG opened at $67.97 on Friday. The stock has a fifty day simple moving average of $65.58 and a two-hundred day simple moving average of $63.00. The stock has a market capitalization of $15.63 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 2.82 and a beta of 0.62. Evergy, Inc. has a 12-month low of $49.55 and a 12-month high of $69.93. The company has a current ratio of 0.55, a quick ratio of 0.32 and a debt-to-equity ratio of 1.15.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.11). The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. On average, research analysts anticipate that Evergy, Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Monday, March 10th. Evergy’s payout ratio is 70.45%.

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.