Envestnet Asset Management Inc. Lowers Holdings in Evergy Inc. (NASDAQ:EVRG)

Envestnet Asset Management Inc. trimmed its holdings in Evergy Inc. (NASDAQ:EVRG) by 8.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 304,196 shares of the company’s stock after selling 26,890 shares during the period. Envestnet Asset Management Inc. owned about 0.13% of Evergy worth $20,974,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Stolper Co lifted its position in shares of Evergy by 0.5% in the first quarter. Stolper Co now owns 34,630 shares of the company’s stock worth $2,388,000 after buying an additional 169 shares in the last quarter. KCM Investment Advisors LLC grew its stake in shares of Evergy by 3.7% during the fourth quarter. KCM Investment Advisors LLC now owns 5,946 shares of the company’s stock valued at $366,000 after buying an additional 210 shares during the last quarter. Retirement Planning Group LLC boosted its holdings in shares of Evergy by 0.9% in the fourth quarter. Retirement Planning Group LLC now owns 24,372 shares of the company’s stock valued at $1,500,000 after purchasing an additional 210 shares during the period. MainStreet Investment Advisors LLC boosted its holdings in shares of Evergy by 4.7% in the fourth quarter. MainStreet Investment Advisors LLC now owns 4,877 shares of the company’s stock valued at $300,000 after purchasing an additional 221 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of Evergy by 2.5% in the first quarter. Parallel Advisors LLC now owns 9,338 shares of the company’s stock valued at $644,000 after purchasing an additional 227 shares during the period. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EVRG. UBS Group upgraded Evergy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $68.00 to $78.00 in a report on Monday, April 28th. LADENBURG THALM/SH SH raised Evergy to a “strong-buy” rating in a research report on Thursday, May 8th. BMO Capital Markets started coverage on Evergy in a research report on Tuesday, May 13th. They set an “outperform” rating and a $75.00 price target on the stock. Citigroup raised their target price on Evergy from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Finally, Jefferies Financial Group set a $78.00 target price on Evergy and gave the company a “buy” rating in a research report on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.19.

Evergy Trading Up 0.5%

EVRG opened at $68.07 on Thursday. The company’s 50 day simple moving average is $67.27 and its two-hundred day simple moving average is $66.40. The firm has a market capitalization of $15.66 billion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 2.94 and a beta of 0.50. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.29. Evergy Inc. has a 1-year low of $54.76 and a 1-year high of $70.36.

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

Evergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 23rd were given a dividend of $0.6675 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.67 annualized dividend and a dividend yield of 3.92%. Evergy’s dividend payout ratio (DPR) is currently 70.26%.

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.