Wedge Capital Management L L P NC Reduces Stock Position in Evergy, Inc. (NYSE:EVRG)

Wedge Capital Management L L P NC lessened its holdings in shares of Evergy, Inc. (NYSE:EVRG) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 278,375 shares of the company’s stock after selling 10,569 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.12% of Evergy worth $14,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Metis Global Partners LLC lifted its stake in shares of Evergy by 20.5% during the 3rd quarter. Metis Global Partners LLC now owns 8,326 shares of the company’s stock valued at $422,000 after buying an additional 1,419 shares in the last quarter. CTC Alternative Strategies Ltd. purchased a new position in shares of Evergy during the 4th quarter valued at $1,121,000. RNC Capital Management LLC lifted its stake in shares of Evergy by 8.6% during the 4th quarter. RNC Capital Management LLC now owns 586,133 shares of the company’s stock valued at $30,596,000 after buying an additional 46,437 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Evergy by 47.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,516,817 shares of the company’s stock valued at $79,178,000 after buying an additional 487,322 shares in the last quarter. Finally, Creative Planning lifted its stake in shares of Evergy by 25.2% during the 3rd quarter. Creative Planning now owns 107,816 shares of the company’s stock valued at $5,466,000 after buying an additional 21,690 shares in the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EVRG. LADENBURG THALM/SH SH began coverage on shares of Evergy in a report on Thursday, April 4th. They issued a “neutral” rating and a $51.00 price target on the stock. Wells Fargo & Company reduced their target price on shares of Evergy from $60.00 to $57.00 and set an “overweight” rating on the stock in a report on Friday, March 1st. Bank of America raised shares of Evergy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $51.00 to $57.00 in a research report on Wednesday, March 13th. Citigroup began coverage on shares of Evergy in a research report on Tuesday, March 26th. They issued a “buy” rating and a $64.00 price target for the company. Finally, Guggenheim lowered shares of Evergy from a “buy” rating to a “neutral” rating and set a $52.00 price objective for the company. in a research note on Monday, January 22nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Evergy currently has an average rating of “Moderate Buy” and an average price target of $56.00.

Evergy Stock Performance

Shares of Evergy stock traded up $0.26 during trading on Tuesday, reaching $52.52. The company’s stock had a trading volume of 184,386 shares, compared to its average volume of 2,541,295. 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 firm has a market cap of $12.07 billion, a PE ratio of 16.43, a P/E/G ratio of 2.70 and a beta of 0.57. The company has a 50-day moving average price of $51.19 and a two-hundred day moving average price of $50.94. Evergy, Inc. has a fifty-two week low of $46.92 and a fifty-two week high of $63.84.

Evergy (NYSE:EVRG) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). Evergy had a net margin of 13.28% and a return on equity of 8.47%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the company posted $0.30 earnings per share. On average, analysts forecast that Evergy, Inc. will post 3.84 EPS for the current year.

Evergy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 11th were paid a dividend of $0.6425 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $2.57 dividend on an annualized basis and a dividend yield of 4.89%. Evergy’s dividend 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.