Miller Howard Investments Inc. NY Decreases Stock Holdings in Evergy, Inc. (NYSE:EVRG)

Miller Howard Investments Inc. NY trimmed its holdings in shares of Evergy, Inc. (NYSE:EVRG) by 25.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,226 shares of the company’s stock after selling 4,212 shares during the quarter. Miller Howard Investments Inc. NY’s holdings in Evergy were worth $653,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. CVA Family Office LLC purchased a new stake in Evergy in the fourth quarter worth $29,000. Itau Unibanco Holding S.A. purchased a new stake in Evergy in the third quarter worth $35,000. Hexagon Capital Partners LLC increased its position in Evergy by 222.2% in the fourth quarter. Hexagon Capital Partners LLC now owns 667 shares of the company’s stock worth $35,000 after buying an additional 460 shares during the last quarter. MV Capital Management Inc. increased its position in Evergy by 3,263.6% in the fourth quarter. MV Capital Management Inc. now owns 740 shares of the company’s stock worth $39,000 after buying an additional 718 shares during the last quarter. Finally, Headinvest LLC purchased a new stake in Evergy in the third quarter worth $40,000. 87.24% of the stock is owned by hedge funds and other institutional investors.

Evergy Trading Up 1.3 %

Shares of EVRG stock opened at $53.37 on Tuesday. The company has a quick ratio of 0.32, a current ratio of 0.57 and a debt-to-equity ratio of 1.21. The business has a 50-day moving average price of $53.44 and a two-hundred day moving average price of $52.12. Evergy, Inc. has a 12-month low of $46.92 and a 12-month high of $61.84. The firm has a market cap of $12.27 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 2.74 and a beta of 0.60.

Evergy (NYSE:EVRG) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the firm earned $0.59 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities analysts anticipate that Evergy, Inc. will post 3.84 EPS for the current fiscal year.

Evergy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Monday, May 20th were paid a dividend of $0.6425 per share. This represents a $2.57 annualized dividend and a yield of 4.82%. The ex-dividend date was Friday, May 17th. Evergy’s dividend payout ratio (DPR) is currently 83.17%.

Analyst Upgrades and Downgrades

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

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.