Truist Financial Corp Sells 42,061 Shares of Evergy, Inc. (NYSE:EVRG)

Truist Financial Corp reduced its holdings in shares of Evergy, Inc. (NYSE:EVRG) by 32.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 88,456 shares of the company’s stock after selling 42,061 shares during the period. Truist Financial Corp’s holdings in Evergy were worth $4,617,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. CVA Family Office LLC bought a new stake in shares of Evergy during the 4th quarter worth $29,000. Itau Unibanco Holding S.A. bought a new stake in shares of Evergy during the 3rd quarter worth $35,000. MV Capital Management Inc. lifted its position in shares of Evergy by 3,263.6% during the 4th quarter. MV Capital Management Inc. now owns 740 shares of the company’s stock worth $39,000 after buying an additional 718 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Evergy by 105.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 785 shares of the company’s stock worth $41,000 after buying an additional 403 shares during the last quarter. Finally, Headinvest LLC bought a new stake in shares of Evergy during the 3rd quarter worth $40,000. 87.24% of the stock is currently owned by institutional investors.

Evergy Trading Up 1.0 %

Shares of EVRG stock opened at $54.10 on Monday. The stock has a market cap of $12.43 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 2.82 and a beta of 0.57. The stock has a 50-day moving average of $51.68 and a 200-day moving average of $51.14. The company has a current ratio of 0.51, a quick ratio of 0.29 and a debt-to-equity ratio of 1.14. Evergy, Inc. has a 1-year low of $46.92 and a 1-year high of $63.39.

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

Evergy Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Friday, March 8th. This represents a $2.57 annualized dividend and a dividend yield of 4.75%. Evergy’s payout ratio is 80.82%.

Analyst Ratings Changes

A number of brokerages have issued reports on EVRG. LADENBURG THALM/SH SH began coverage on Evergy in a report on Thursday, April 4th. They issued a “neutral” rating and a $51.00 target price for the company. Guggenheim cut Evergy from a “buy” rating to a “neutral” rating and set a $52.00 target price for the company. in a report on Monday, January 22nd. Bank of America raised Evergy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $51.00 to $57.00 in a report on Wednesday, March 13th. 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 report on Friday, March 1st. Finally, Barclays upped their target price on Evergy from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

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.