Xponance Inc. Lowers Stake in Evergy, Inc. (NASDAQ:EVRG)

Xponance Inc. reduced its stake in shares of Evergy, Inc. (NASDAQ:EVRG) by 0.9% in the fourth quarter, Holdings Channel reports. The firm owned 31,060 shares of the company’s stock after selling 277 shares during the period. Xponance Inc.’s holdings in Evergy were worth $1,912,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. National Pension Service purchased a new stake in shares of Evergy during the fourth quarter valued at $30,000. Bank of Jackson Hole Trust bought a new stake in shares of Evergy in the fourth quarter valued at about $31,000. Truvestments Capital LLC bought a new stake in shares of Evergy in the third quarter valued at about $32,000. SBI Securities Co. Ltd. bought a new stake in shares of Evergy in the fourth quarter valued at about $49,000. Finally, USA Financial Formulas bought a new stake in shares of Evergy in the fourth quarter valued at about $73,000. 87.24% of the stock is owned by hedge funds and other institutional investors.

Evergy Price Performance

Shares of NASDAQ EVRG opened at $67.45 on Friday. The business’s 50 day moving average price is $65.73 and its 200 day moving average price is $63.05. The firm has a market cap of $15.51 billion, a P/E ratio of 18.23, a P/E/G ratio of 2.82 and a beta of 0.62. Evergy, Inc. has a 52 week low of $49.55 and a 52 week high of $69.93. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15.

Evergy (NASDAQ:EVRG) last issued its earnings results on Thursday, February 27th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.11). The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. On average, sell-side analysts expect that Evergy, Inc. will post 3.83 earnings per share for the current year.

Evergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a $0.6675 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.67 dividend on an annualized basis and a yield of 3.96%. Evergy’s dividend payout ratio is currently 70.45%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. LADENBURG THALM/SH SH upgraded Evergy to a “strong-buy” rating in a report on Monday, March 17th. UBS Group lifted their price objective on Evergy from $66.00 to $68.00 and gave the company a “neutral” rating in a report on Friday. Guggenheim upgraded shares of Evergy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Barclays boosted their target price on shares of Evergy from $62.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $68.36.

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.