Steel Grove Capital Advisors LLC Reduces Stock Position in Evergy, Inc. (NYSE:EVRG)

Steel Grove Capital Advisors LLC reduced its holdings in shares of Evergy, Inc. (NYSE:EVRG) by 78.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,380 shares of the company’s stock after selling 23,058 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Evergy were worth $333,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its stake in Evergy by 201,851.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 93,428,842 shares of the company’s stock valued at $5,879,477,000 after acquiring an additional 93,382,579 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Evergy by 3,322.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,433,440 shares of the company’s stock valued at $637,693,000 after purchasing an additional 10,128,549 shares in the last quarter. Millennium Management LLC lifted its position in shares of Evergy by 984.0% during the fourth quarter. Millennium Management LLC now owns 3,150,082 shares of the company’s stock worth $198,235,000 after purchasing an additional 2,859,476 shares during the last quarter. State Street Corp grew its stake in Evergy by 10.8% in the first quarter. State Street Corp now owns 13,874,020 shares of the company’s stock worth $948,151,000 after purchasing an additional 1,356,321 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Evergy by 228.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,029,495 shares of the company’s stock valued at $52,195,000 after buying an additional 715,892 shares during the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Citigroup began coverage on Evergy in a report on Tuesday. They set a “buy” rating and a $64.00 target price on the stock. Barclays increased their target price on shares of Evergy from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. Wells Fargo & Company decreased their price target on shares of Evergy from $60.00 to $57.00 and set an “overweight” rating for the company in a report on Friday, March 1st. Bank of America upgraded shares of Evergy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $51.00 to $57.00 in a research note on Wednesday, March 13th. Finally, Guggenheim lowered 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Evergy currently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Evergy Stock Performance

Shares of EVRG traded up $0.47 during mid-day trading on Thursday, reaching $53.52. 1,051,962 shares of the company’s stock traded hands, compared to its average volume of 2,754,013. Evergy, Inc. has a 12 month low of $46.92 and a 12 month high of $63.93. The stock has a market capitalization of $12.30 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 2.36 and a beta of 0.56. The business’s 50-day moving average price is $50.50 and its 200-day moving average price is $50.96. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.29 and a current ratio of 0.51.

Evergy (NYSE:EVRG) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.46 billion. Evergy had a return on equity of 8.47% and a net margin of 13.28%. During the same quarter last year, the firm posted $0.30 EPS. Equities analysts predict that Evergy, Inc. will post 3.83 earnings per share for the current year.

Evergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were paid a dividend of $0.6425 per share. The ex-dividend date was Friday, March 8th. This represents a $2.57 annualized dividend and a yield of 4.80%. Evergy’s payout ratio is 80.82%.

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.