Cresset Asset Management LLC Cuts Stock Holdings in Evergy, Inc. (NASDAQ:EVRG)

Cresset Asset Management LLC trimmed its position in shares of Evergy, Inc. (NASDAQ:EVRG - Free Report) by 69.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,843 shares of the company's stock after selling 18,117 shares during the quarter. Cresset Asset Management LLC's holdings in Evergy were worth $483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Evergy by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 30,665,885 shares of the company's stock worth $1,887,485,000 after acquiring an additional 221,086 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Evergy by 2.3% during the 4th quarter. Franklin Resources Inc. now owns 5,660,930 shares of the company's stock worth $348,430,000 after acquiring an additional 128,211 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Evergy by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 5,637,257 shares of the company's stock worth $346,063,000 after acquiring an additional 133,641 shares during the last quarter. American Century Companies Inc. boosted its holdings in Evergy by 3.8% during the 4th quarter. American Century Companies Inc. now owns 3,555,122 shares of the company's stock worth $218,818,000 after acquiring an additional 130,804 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Evergy by 2.2% in the 4th quarter. Federated Hermes Inc. now owns 3,434,216 shares of the company's stock worth $211,376,000 after buying an additional 73,066 shares during the last quarter. 87.24% of the stock is owned by hedge funds and other institutional investors.

Evergy Trading Down 1.1%

Shares of EVRG opened at $64.06 on Thursday. The business's 50-day moving average price is $67.27 and its 200-day moving average price is $64.83. Evergy, Inc. has a twelve month low of $52.10 and a twelve month high of $70.36. The stock has a market cap of $14.74 billion, a PE ratio of 17.31, a P/E/G ratio of 2.82 and a beta of 0.53. 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, May 8th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.12). Evergy had a return on equity of 8.77% and a net margin of 14.77%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the company posted $0.54 earnings per share. On average, equities analysts forecast that Evergy, Inc. will post 3.83 EPS for the current fiscal year.

Evergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend is Friday, May 23rd. Evergy's payout ratio is currently 70.26%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EVRG. Barclays boosted their price target on shares of Evergy from $72.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, April 22nd. LADENBURG THALM/SH SH raised shares of Evergy to a "strong-buy" rating in a report on Thursday, May 8th. UBS Group raised shares of Evergy from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $68.00 to $78.00 in a report on Monday, April 28th. Guggenheim raised shares of Evergy from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Finally, BMO Capital Markets began coverage on shares of Evergy in a report on Tuesday. They issued an "outperform" rating and a $75.00 price target on the stock. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $71.50.

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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