Prudential Financial Inc. Decreases Stake in Evergy, Inc. (NASDAQ:EVRG)

Prudential Financial Inc. decreased its holdings in shares of Evergy, Inc. (NASDAQ:EVRG - Free Report) by 39.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,899 shares of the company's stock after selling 79,221 shares during the quarter. Prudential Financial Inc. owned about 0.05% of Evergy worth $7,750,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of EVRG. Lee Danner & Bass Inc. acquired a new position in shares of Evergy during the 4th quarter worth approximately $26,000. National Pension Service purchased a new stake in Evergy in the 4th quarter valued at $30,000. Bank of Jackson Hole Trust acquired a new stake in shares of Evergy in the 4th quarter worth $31,000. Sandy Spring Bank raised its holdings in shares of Evergy by 5,983.3% during the 4th quarter. Sandy Spring Bank now owns 730 shares of the company's stock worth $45,000 after acquiring an additional 718 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Evergy during the 4th quarter valued at about $49,000. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Stock Performance

EVRG traded up $0.43 during trading on Thursday, hitting $69.86. 448,118 shares of the stock were exchanged, compared to its average volume of 1,899,291. 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 1-year low of $49.55 and a 1-year high of $70.30. The stock has a fifty day moving average price of $66.61 and a two-hundred day moving average price of $63.50. The firm has a market capitalization of $16.07 billion, a P/E ratio of 18.88, a PEG ratio of 2.82 and a beta of 0.62.

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Evergy (NASDAQ:EVRG - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. As a group, sell-side analysts predict that Evergy, Inc. will post 3.83 earnings per share for the current year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 3.82%. The ex-dividend date was Monday, March 10th. Evergy's dividend payout ratio is presently 70.45%.

Analysts Set New Price Targets

Several research firms have recently commented on EVRG. Guggenheim raised shares of Evergy from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. UBS Group increased their target price on shares of Evergy from $66.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. LADENBURG THALM/SH SH upgraded Evergy to a "strong-buy" rating in a report on Monday, March 17th. Finally, 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. One investment 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, the stock presently has an average 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.