First PREMIER Bank Reduces Stock Position in Evergy, Inc. (NYSE:EVRG)

First PREMIER Bank lowered its stake in shares of Evergy, Inc. (NYSE:EVRG) by 3.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,908 shares of the company’s stock after selling 1,137 shares during the period. First PREMIER Bank’s holdings in Evergy were worth $1,970,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC purchased a new stake in shares of Evergy in the fourth quarter worth $29,000. Itau Unibanco Holding S.A. bought a new position in Evergy in the third quarter valued at $35,000. Hexagon Capital Partners LLC increased its stake in Evergy by 222.2% in the fourth quarter. Hexagon Capital Partners LLC now owns 667 shares of the company’s stock valued at $35,000 after acquiring an additional 460 shares during the last quarter. MV Capital Management Inc. increased its stake in Evergy by 3,263.6% in the fourth quarter. MV Capital Management Inc. now owns 740 shares of the company’s stock valued at $39,000 after acquiring an additional 718 shares during the last quarter. Finally, Headinvest LLC bought a new position in Evergy in the third quarter valued at $40,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Bank of America raised Evergy from a “neutral” rating to a “buy” rating and increased their target price for the company from $51.00 to $57.00 in a research note on Wednesday, March 13th. Citigroup began coverage on Evergy in a research note on Tuesday, March 26th. They set a “buy” rating and a $64.00 price objective on the stock. LADENBURG THALM/SH SH began coverage on Evergy in a research note on Thursday, April 4th. They set a “neutral” rating and a $51.00 price objective on the stock. Wells Fargo & Company raised their price objective on Evergy from $57.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, May 10th. Finally, Barclays raised their price objective on Evergy from $56.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, May 14th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Evergy presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.83.

Evergy Stock Up 1.1 %

EVRG traded up $0.58 on Monday, hitting $53.24. The company had a trading volume of 286,915 shares, compared to its average volume of 2,326,877. The stock has a fifty day simple moving average of $53.38 and a 200-day simple moving average of $52.11. Evergy, Inc. has a 52-week low of $46.92 and a 52-week high of $61.84. The firm has a market capitalization of $12.24 billion, a P/E ratio of 17.04, a P/E/G ratio of 2.75 and a beta of 0.60. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.57 and a quick ratio of 0.32.

Evergy (NYSE:EVRG) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.07). Evergy had a return on equity of 8.32% and a net margin of 12.84%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the firm earned $0.59 earnings per share. Evergy’s revenue was up 2.6% on a year-over-year basis. As a group, equities analysts expect that Evergy, Inc. will post 3.84 EPS for the current fiscal year.

Evergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Monday, May 20th were issued a $0.6425 dividend. The ex-dividend date was Friday, May 17th. This represents a $2.57 dividend on an annualized basis and a yield of 4.83%. Evergy’s payout ratio is currently 83.17%.

About Evergy

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.