Steel Grove Capital Advisors LLC Sells 23,058 Shares of Evergy, Inc. (NYSE:EVRG)

Steel Grove Capital Advisors LLC cut its stake in Evergy, Inc. (NYSE:EVRG) by 78.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,380 shares of the company’s stock after selling 23,058 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Evergy were worth $333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its stake in Evergy by 1.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 14,198 shares of the company’s stock valued at $969,000 after purchasing an additional 179 shares during the period. Verity Asset Management Inc. increased its position in Evergy by 4.7% during the second quarter. Verity Asset Management Inc. now owns 4,206 shares of the company’s stock worth $246,000 after acquiring an additional 188 shares during the period. Atwood & Palmer Inc. boosted its holdings in Evergy by 30.5% in the 4th quarter. Atwood & Palmer Inc. now owns 855 shares of the company’s stock valued at $45,000 after purchasing an additional 200 shares during the period. IFM Investors Pty Ltd grew its position in shares of Evergy by 0.3% during the 4th quarter. IFM Investors Pty Ltd now owns 73,111 shares of the company’s stock worth $3,816,000 after purchasing an additional 206 shares in the last quarter. Finally, Raleigh Capital Management Inc. grew its position in shares of Evergy by 4.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 5,531 shares of the company’s stock worth $280,000 after purchasing an additional 211 shares in the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Stock Performance

EVRG traded up $0.47 during trading hours on Thursday, hitting $53.52. The stock had a trading volume of 1,051,962 shares, compared to its average volume of 2,754,013. The stock has a market cap of $12.30 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 2.36 and a beta of 0.56. The company has a quick ratio of 0.29, a current ratio of 0.51 and a debt-to-equity ratio of 1.14. The company’s fifty day simple moving average is $50.50 and its 200 day simple moving average is $50.96. Evergy, Inc. has a 1 year low of $46.92 and a 1 year high of $63.93.

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

Evergy Dividend Announcement

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

Analyst Ratings Changes

EVRG has been the subject of several recent research reports. Barclays boosted their price target on Evergy from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. Citigroup initiated coverage on Evergy in a report on Tuesday. They set a “buy” rating and a $64.00 price objective on the stock. Guggenheim downgraded shares of Evergy from a “buy” rating to a “neutral” rating and set a $52.00 price target for the company. in a research note on Monday, January 22nd. Bank of America raised Evergy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $51.00 to $57.00 in a research note on Wednesday, March 13th. Finally, Wells Fargo & Company decreased their price target on Evergy from $60.00 to $57.00 and set an “overweight” rating for the company in a report on Friday, March 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Evergy presently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

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.