Allspring Global Investments Holdings LLC Sells 9,075 Shares of Evergy Inc. (NASDAQ:EVRG)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Evergy Inc. (NASDAQ:EVRG) by 15.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,419 shares of the company’s stock after selling 9,075 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Evergy were worth $3,548,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. ExodusPoint Capital Management LP grew its holdings in Evergy by 164.8% in the fourth quarter. ExodusPoint Capital Management LP now owns 2,312,953 shares of the company’s stock worth $142,362,000 after purchasing an additional 1,439,450 shares during the period. GAMMA Investing LLC grew its holdings in shares of Evergy by 8,154.8% during the first quarter. GAMMA Investing LLC now owns 973,574 shares of the company’s stock valued at $67,128,000 after buying an additional 961,780 shares during the last quarter. Brandes Investment Partners LP acquired a new position in shares of Evergy during the fourth quarter valued at about $55,652,000. Groupama Asset Managment grew its holdings in shares of Evergy by 3,216.6% during the fourth quarter. Groupama Asset Managment now owns 880,768 shares of the company’s stock valued at $54,211,000 after buying an additional 854,212 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in shares of Evergy during the first quarter valued at about $40,285,000. 87.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on EVRG shares. Jefferies Financial Group set a $78.00 price objective on shares of Evergy and gave the company a “buy” rating in a report on Tuesday, June 10th. Wall Street Zen cut shares of Evergy from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. LADENBURG THALM/SH SH upgraded shares of Evergy to a “strong-buy” rating in a report on Thursday, May 8th. Citigroup lifted their price objective on shares of Evergy from $77.00 to $79.00 and gave the company a “buy” rating in a report on Friday, May 16th. Finally, BMO Capital Markets began coverage on shares of Evergy in a report on Tuesday, May 13th. They set an “outperform” rating and a $75.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.19.

Evergy Stock Up 1.7%

EVRG opened at $70.15 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.29. The company’s 50-day moving average is $67.35 and its 200 day moving average is $66.07. Evergy Inc. has a fifty-two week low of $52.58 and a fifty-two week high of $70.36. The firm has a market capitalization of $16.14 billion, a P/E ratio of 18.46, a PEG ratio of 3.05 and a beta of 0.50.

Evergy (NASDAQ:EVRG) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.12). The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.21 billion. Evergy had a net margin of 14.87% and a return on equity of 8.84%. During the same period in the previous year, the business earned $0.54 earnings per share. Research analysts expect that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 23rd were given a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Friday, May 23rd. Evergy’s dividend payout ratio is 70.26%.

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.