Retirement Systems of Alabama Sells 1,307 Shares of Evergy, Inc. (NYSE:EVRG)

Retirement Systems of Alabama lessened its position in Evergy, Inc. (NYSE:EVRG) by 2.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 50,629 shares of the company’s stock after selling 1,307 shares during the period. Retirement Systems of Alabama’s holdings in Evergy were worth $2,643,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Metis Global Partners LLC lifted its stake in Evergy by 20.5% in the third quarter. Metis Global Partners LLC now owns 8,326 shares of the company’s stock worth $422,000 after purchasing an additional 1,419 shares during the last quarter. CTC Alternative Strategies Ltd. purchased a new position in Evergy during the 4th quarter valued at $1,121,000. RNC Capital Management LLC grew its position in Evergy by 8.6% in the 4th quarter. RNC Capital Management LLC now owns 586,133 shares of the company’s stock valued at $30,596,000 after acquiring an additional 46,437 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Evergy by 47.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,516,817 shares of the company’s stock worth $79,178,000 after purchasing an additional 487,322 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Evergy by 85.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 41,076 shares of the company’s stock worth $2,144,000 after purchasing an additional 18,910 shares during the last quarter. 87.24% of the stock is owned by hedge funds and other institutional investors.

Evergy Stock Up 0.9 %

Evergy 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. The firm has a market cap of $12.51 billion, a P/E ratio of 17.12, a P/E/G ratio of 2.82 and a beta of 0.57. The business has a fifty day moving average of $51.85 and a two-hundred day moving average of $51.22. Evergy, Inc. has a twelve month low of $46.92 and a twelve month high of $63.39.

Evergy (NYSE:EVRG) last issued its quarterly earnings data 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 company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the company earned $0.30 earnings per share. On average, analysts forecast that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 11th were given a $0.6425 dividend. This represents a $2.57 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date was Friday, March 8th. Evergy’s payout ratio is currently 80.82%.

Analyst Ratings Changes

A number of research analysts have recently commented on EVRG shares. Guggenheim cut shares of Evergy from a “buy” rating to a “neutral” rating and set a $52.00 price target on the stock. in a report on Monday, January 22nd. Citigroup assumed coverage on shares of Evergy in a research report on Tuesday, March 26th. They set a “buy” rating and a $64.00 target price on the stock. Bank of America upgraded Evergy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $51.00 to $57.00 in a report on Wednesday, March 13th. LADENBURG THALM/SH SH assumed coverage on Evergy in a report on Thursday, April 4th. They set a “neutral” rating and a $51.00 price objective on the stock. Finally, 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. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

Evergy 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.