Nisa Investment Advisors LLC Reduces Stock Position in Evergy Inc. $EVRG

Nisa Investment Advisors LLC trimmed its holdings in Evergy Inc. (NASDAQ:EVRG) by 14.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,224 shares of the company’s stock after selling 12,525 shares during the period. Nisa Investment Advisors LLC’s holdings in Evergy were worth $5,643,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EVRG. Vanguard Group Inc. boosted its stake in Evergy by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 30,966,777 shares of the company’s stock worth $2,134,540,000 after purchasing an additional 521,310 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Evergy by 2.8% in the second quarter. Geode Capital Management LLC now owns 6,257,857 shares of the company’s stock worth $429,677,000 after buying an additional 170,953 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Evergy by 2.1% in the second quarter. Franklin Resources Inc. now owns 5,807,034 shares of the company’s stock valued at $400,279,000 after acquiring an additional 118,124 shares during the period. Federated Hermes Inc. grew its stake in Evergy by 8.7% during the second quarter. Federated Hermes Inc. now owns 3,685,142 shares of the company’s stock valued at $254,017,000 after acquiring an additional 293,564 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in Evergy by 44.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,470,917 shares of the company’s stock worth $170,320,000 after acquiring an additional 760,301 shares during the period. 87.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of Evergy from a “hold” rating to a “sell” rating in a report on Monday, December 22nd. Wells Fargo & Company raised Evergy to a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings restated a “buy (b-)” rating on shares of Evergy in a research note on Monday, December 29th. Jefferies Financial Group lifted their price target on Evergy from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Finally, Citigroup lifted their target price on shares of Evergy from $79.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.75.

Evergy Stock Down 0.2%

EVRG opened at $72.82 on Monday. The company has a market cap of $16.76 billion, a P/E ratio of 19.95, a P/E/G ratio of 2.94 and a beta of 0.67. Evergy Inc. has a 12 month low of $59.67 and a 12 month high of $79.32. The business’s 50-day moving average price is $74.60 and its 200-day moving average price is $73.40. The company has a current ratio of 0.52, a quick ratio of 0.30 and a debt-to-equity ratio of 1.20.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.11). The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $2.24 billion. Evergy had a return on equity of 8.66% and a net margin of 14.45%.Evergy’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.02 earnings per share. On average, equities analysts expect that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, November 21st were paid a $0.695 dividend. The ex-dividend date of this dividend was Friday, November 21st. This is a positive change from Evergy’s previous quarterly dividend of $0.67. This represents a $2.78 annualized dividend and a dividend yield of 3.8%. Evergy’s payout ratio is presently 76.16%.

Evergy Profile

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company’s business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.