California Public Employees Retirement System Lowers Stake in Evergy, Inc. (NYSE:EVRG)

California Public Employees Retirement System cut its position in shares of Evergy, Inc. (NYSE:EVRG) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,406,363 shares of the company’s stock after selling 36,322 shares during the quarter. California Public Employees Retirement System owned about 0.61% of Evergy worth $73,412,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of EVRG. CVA Family Office LLC acquired a new stake in Evergy during the 4th quarter worth approximately $29,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Evergy in the third quarter worth $35,000. MV Capital Management Inc. raised its stake in shares of Evergy by 3,263.6% in the 4th quarter. MV Capital Management Inc. now owns 740 shares of the company’s stock valued at $39,000 after acquiring an additional 718 shares during the period. Headinvest LLC purchased a new stake in Evergy during the 3rd quarter worth $40,000. Finally, Asset Dedication LLC acquired a new stake in Evergy in the 3rd quarter valued at $45,000. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Evergy Price Performance

EVRG stock opened at $52.48 on Thursday. The stock’s 50 day moving average is $51.25 and its two-hundred day moving average is $50.97. Evergy, Inc. has a 52-week low of $46.92 and a 52-week high of $63.84. The company has a market capitalization of $12.06 billion, a PE ratio of 14.72, a P/E/G ratio of 2.72 and a beta of 0.57. The company has a quick ratio of 0.29, a current ratio of 0.51 and a debt-to-equity ratio of 1.14.

Evergy (NYSE:EVRG) last released its quarterly earnings results 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). The company 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 period in the previous year, the business posted $0.30 EPS. Analysts predict that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend was Friday, March 8th. Evergy’s payout ratio is currently 80.82%.

Analyst Ratings Changes

A number of research analysts have commented on the company. LADENBURG THALM/SH SH started coverage on Evergy in a research note on Thursday, April 4th. They set a “neutral” rating and a $51.00 price objective on the stock. Citigroup started coverage on Evergy in a research report on Tuesday, March 26th. They set a “buy” rating and a $64.00 price target on the stock. Bank of America raised shares of Evergy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $51.00 to $57.00 in a research report on Wednesday, March 13th. Barclays boosted their target price on shares of Evergy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. Finally, Wells Fargo & Company lowered 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. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Evergy has an average rating of “Moderate Buy” and a consensus price target of $56.00.

Evergy Company 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.