Mitsubishi UFJ Trust & Banking Corp Sells 573,511 Shares of Evergy Inc. $EVRG

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in shares of Evergy Inc. (NASDAQ:EVRG) by 23.2% during the third quarter, Holdings Channel reports. The firm owned 1,897,406 shares of the company’s stock after selling 573,511 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Evergy were worth $144,241,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of EVRG. AlphaCore Capital LLC bought a new stake in shares of Evergy in the 2nd quarter worth approximately $33,000. Root Financial Partners LLC bought a new position in shares of Evergy during the third quarter valued at approximately $44,000. CYBER HORNET ETFs LLC purchased a new stake in Evergy in the second quarter worth $42,000. MUFG Securities EMEA plc bought a new stake in Evergy in the second quarter valued at $47,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Evergy in the second quarter valued at $48,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Evergy Stock Down 0.7%

Shares of Evergy stock opened at $75.69 on Friday. Evergy Inc. has a 1 year low of $61.94 and a 1 year high of $79.32. The firm has a market cap of $17.42 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 3.08 and a beta of 0.67. The company has a 50-day moving average of $74.40 and a 200 day moving average of $73.79. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.52 and a quick ratio of 0.30.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Evergy had a return on equity of 8.66% and a net margin of 14.45%.The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter last year, the company posted $2.02 EPS. Evergy’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, November 21st were paid a dividend of $0.695 per share. The ex-dividend date was Friday, November 21st. This represents a $2.78 dividend on an annualized basis and a yield of 3.7%. This is an increase from Evergy’s previous quarterly dividend of $0.67. Evergy’s dividend payout ratio (DPR) is 76.16%.

Wall Street Analyst Weigh In

Several research analysts have commented on EVRG shares. Wells Fargo & Company upped their price objective on shares of Evergy from $77.00 to $79.00 and gave the stock an “equal weight” rating in a report on Tuesday. Citigroup boosted their price target on shares of Evergy from $79.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Barclays increased their price target on shares of Evergy from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday. UBS Group raised their price objective on shares of Evergy from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Finally, Wall Street Zen downgraded Evergy from a “hold” rating to a “sell” rating in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.75.

Evergy Company Profile

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company’s business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.