Twin Capital Management Inc. Trims Stock Position in Evergy, Inc. (NYSE:EVRG)

Twin Capital Management Inc. lessened its stake in shares of Evergy, Inc. (NYSE:EVRG) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,955 shares of the company’s stock after selling 844 shares during the quarter. Twin Capital Management Inc.’s holdings in Evergy were worth $1,981,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. PNC Financial Services Group Inc. increased 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 buying an additional 179 shares during the period. Cibc World Market Inc. lifted its holdings in Evergy by 25.8% in the 1st quarter. Cibc World Market Inc. now owns 5,924 shares of the company’s stock valued at $405,000 after purchasing an additional 1,214 shares in the last quarter. Blair William & Co. IL lifted its holdings in Evergy by 5.5% in the 1st quarter. Blair William & Co. IL now owns 12,622 shares of the company’s stock valued at $863,000 after purchasing an additional 657 shares in the last quarter. Sei Investments Co. lifted its holdings in Evergy by 28.4% in the 1st quarter. Sei Investments Co. now owns 322,941 shares of the company’s stock valued at $22,058,000 after purchasing an additional 71,345 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Evergy by 1,332.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 374,061 shares of the company’s stock valued at $25,563,000 after purchasing an additional 347,949 shares in the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. 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 report on Wednesday, March 13th. Citigroup assumed coverage on shares of Evergy in a report on Tuesday, March 26th. They set a “buy” rating and a $64.00 price objective on the stock. Guggenheim lowered shares of Evergy from a “buy” rating to a “neutral” rating and set a $52.00 price objective on the stock. in a report on Monday, January 22nd. Barclays increased their price objective on shares of Evergy from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Evergy in a report on Thursday, April 4th. They set a “neutral” rating and a $51.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Evergy currently has an average rating of “Moderate Buy” and a consensus price target of $56.00.

Evergy Stock Up 0.9 %

EVRG stock opened at $50.96 on Friday. Evergy, Inc. has a twelve month low of $46.92 and a twelve month high of $63.84. The company has a current ratio of 0.51, a quick ratio of 0.29 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $11.71 billion, a P/E ratio of 14.23, a PEG ratio of 2.63 and a beta of 0.57. The firm has a 50 day simple moving average of $51.08 and a 200-day simple moving average of $50.86.

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). Evergy had a return on equity of 8.47% and a net margin of 13.28%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the business posted $0.30 EPS. On average, equities research analysts predict that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 11th were given a dividend of $0.6425 per share. This represents a $2.57 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend was Friday, March 8th. Evergy’s payout ratio is currently 80.82%.

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.