Evergy, Inc. (NASDAQ:EVRG) Stake Lessened by Bank of America Corp DE

Bank of America Corp DE trimmed its stake in shares of Evergy, Inc. (NASDAQ:EVRG - Free Report) by 32.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 920,245 shares of the company's stock after selling 442,314 shares during the quarter. Bank of America Corp DE owned approximately 0.40% of Evergy worth $56,641,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in EVRG. Allworth Financial LP grew its holdings in Evergy by 84.6% in the 4th quarter. Allworth Financial LP now owns 7,975 shares of the company's stock worth $501,000 after buying an additional 3,654 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Evergy during the fourth quarter valued at $49,000. Hennion & Walsh Asset Management Inc. raised its stake in shares of Evergy by 23.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 10,692 shares of the company's stock valued at $658,000 after purchasing an additional 2,004 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Evergy by 15,406.4% in the fourth quarter. SG Americas Securities LLC now owns 921,546 shares of the company's stock worth $56,721,000 after purchasing an additional 915,603 shares during the period. Finally, Kingsview Wealth Management LLC acquired a new stake in Evergy in the fourth quarter worth about $214,000. 87.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Evergy Stock Performance

Shares of EVRG stock opened at $64.76 on Wednesday. The firm has a market cap of $14.90 billion, a PE ratio of 17.50, a P/E/G ratio of 2.82 and a beta of 0.53. Evergy, Inc. has a 12 month low of $52.10 and a 12 month high of $70.36. The company's fifty day simple moving average is $67.30 and its 200-day simple moving average is $64.84. 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 announced its quarterly earnings results on Thursday, May 8th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.12). Evergy had a net margin of 14.77% and a return on equity of 8.77%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the business earned $0.54 EPS. Equities research analysts expect that Evergy, Inc. will post 3.83 EPS for the current fiscal year.

Evergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend is Friday, May 23rd. Evergy's dividend payout ratio is currently 70.45%.

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.

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