Evergy, Inc. (NASDAQ:EVRG) Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd cut its stake in Evergy, Inc. (NASDAQ:EVRG - Free Report) by 17.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 162,386 shares of the company's stock after selling 34,784 shares during the quarter. Magellan Asset Management Ltd owned 0.07% of Evergy worth $9,995,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of EVRG. FMR LLC lifted its position in shares of Evergy by 131.4% during the 3rd quarter. FMR LLC now owns 2,004,414 shares of the company's stock valued at $124,294,000 after buying an additional 1,138,138 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Evergy by 2.8% during the third quarter. Public Sector Pension Investment Board now owns 40,137 shares of the company's stock worth $2,489,000 after purchasing an additional 1,100 shares in the last quarter. Benjamin Edwards Inc. lifted its position in Evergy by 9,427.9% during the third quarter. Benjamin Edwards Inc. now owns 81,559 shares of the company's stock valued at $5,057,000 after purchasing an additional 80,703 shares during the last quarter. Centiva Capital LP lifted its holdings in shares of Evergy by 10.9% during the 3rd quarter. Centiva Capital LP now owns 25,745 shares of the company's stock worth $1,596,000 after acquiring an additional 2,533 shares during the last quarter. Finally, Hilltop Holdings Inc. purchased a new position in shares of Evergy in the 3rd quarter worth about $362,000. 87.24% of the stock is owned by hedge funds and other institutional investors.

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Evergy Stock Performance

Shares of EVRG traded up $1.44 during mid-day trading on Tuesday, reaching $65.80. The company had a trading volume of 1,051,819 shares, compared to its average volume of 1,921,977. 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, Inc. has a 52-week low of $49.55 and a 52-week high of $70.30. The stock has a 50 day moving average of $66.79 and a two-hundred day moving average of $63.62. The stock has a market capitalization of $15.13 billion, a P/E ratio of 17.79, a PEG ratio of 2.82 and a beta of 0.52.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.35 earnings per share 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, analysts expect that Evergy, Inc. will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were issued 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 dividend yield of 4.06%. Evergy's payout ratio is currently 70.45%.

Wall Street Analyst Weigh In

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

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.