HITE Hedge Asset Management LLC Trims Stock Position in Evergy, Inc. (NASDAQ:EVRG)

HITE Hedge Asset Management LLC trimmed its stake in shares of Evergy, Inc. (NASDAQ:EVRG - Free Report) by 16.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 256,594 shares of the company's stock after selling 48,934 shares during the quarter. Evergy comprises 1.2% of HITE Hedge Asset Management LLC's investment portfolio, making the stock its 29th biggest holding. HITE Hedge Asset Management LLC owned 0.11% of Evergy worth $15,793,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co increased its position in Evergy by 10.1% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 102,706 shares of the company's stock worth $6,320,000 after purchasing an additional 9,413 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Evergy by 22.9% in the fourth quarter. NewEdge Advisors LLC now owns 14,569 shares of the company's stock valued at $897,000 after buying an additional 2,715 shares in the last quarter. United Capital Financial Advisors LLC grew its holdings in Evergy by 3.2% during the fourth quarter. United Capital Financial Advisors LLC now owns 7,976 shares of the company's stock worth $491,000 after acquiring an additional 249 shares during the period. Ontario Teachers Pension Plan Board grew its holdings in Evergy by 106.4% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 42,428 shares of the company's stock worth $2,611,000 after acquiring an additional 21,868 shares during the period. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new position in Evergy in the fourth quarter worth $1,672,000. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on EVRG shares. LADENBURG THALM/SH SH upgraded Evergy to a "strong-buy" rating in a research report on Monday, March 17th. UBS Group boosted their price objective on shares of Evergy from $66.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Barclays raised their target price on shares of Evergy from $62.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Finally, Guggenheim raised shares of Evergy from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $69.08.

Evergy Price Performance

Shares of NASDAQ:EVRG opened at $68.37 on Friday. The company has a market cap of $15.73 billion, a P/E ratio of 18.48, a P/E/G ratio of 2.82 and a beta of 0.52. The business has a fifty day simple moving average of $67.14 and a 200-day simple moving average of $63.89. Evergy, Inc. has a 52 week low of $50.36 and a 52 week high of $70.30. 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 - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.11). Evergy had a net margin of 14.77% and a return on equity of 8.77%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. Equities research analysts forecast that Evergy, Inc. will post 3.83 EPS for the current year.

Evergy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a $0.6675 dividend. The ex-dividend date was Monday, March 10th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.91%. Evergy's dividend payout ratio (DPR) is presently 70.45%.

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.

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