Allspring Global Investments Holdings LLC Sells 9,075 Shares of Evergy Inc. (NASDAQ:EVRG)

Allspring Global Investments Holdings LLC cut its position in Evergy Inc. (NASDAQ:EVRG - Free Report) by 15.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,419 shares of the company's stock after selling 9,075 shares during the period. Allspring Global Investments Holdings LLC's holdings in Evergy were worth $3,548,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of EVRG. SBI Securities Co. Ltd. acquired a new position in shares of Evergy in the fourth quarter valued at approximately $49,000. Sowell Financial Services LLC acquired a new position in shares of Evergy in the first quarter valued at approximately $267,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Evergy in the fourth quarter valued at approximately $1,728,000. Atria Investments Inc boosted its holdings in shares of Evergy by 101.1% in the fourth quarter. Atria Investments Inc now owns 8,016 shares of the company's stock valued at $493,000 after buying an additional 4,030 shares during the period. Finally, Brighton Jones LLC acquired a new position in shares of Evergy in the fourth quarter valued at approximately $257,000. Institutional investors and hedge funds own 87.24% of the company's stock.

Evergy Price Performance

Evergy stock traded up $0.12 during trading hours on Wednesday, reaching $68.80. 382,436 shares of the stock were exchanged, compared to its average volume of 2,064,220. The company has a market cap of $15.83 billion, a P/E ratio of 18.10, a price-to-earnings-growth ratio of 3.01 and a beta of 0.50. The company has a current ratio of 0.55, a quick ratio of 0.29 and a debt-to-equity ratio of 1.24. Evergy Inc. has a twelve month low of $52.77 and a twelve month high of $70.36. The stock has a 50 day moving average of $67.35 and a two-hundred day moving average of $66.14.

Evergy (NASDAQ:EVRG - Get Free Report) last issued 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 8.84% and a net margin of 14.87%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the firm earned $0.54 EPS. Equities analysts expect that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.6675 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.67 annualized dividend and a dividend yield of 3.88%. Evergy's dividend payout ratio is currently 70.26%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Barclays cut their price objective on shares of Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. BMO Capital Markets assumed coverage on shares of Evergy in a research report on Tuesday, May 13th. They issued an "outperform" rating and a $75.00 price objective on the stock. Jefferies Financial Group set a $78.00 price objective on shares of Evergy and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Citigroup upped their price target on shares of Evergy from $77.00 to $79.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, UBS Group raised shares of Evergy from a "neutral" rating to a "buy" rating and upped their price target for the stock from $68.00 to $78.00 in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Evergy currently has a consensus rating of "Moderate Buy" and a consensus target price of $73.19.

Evergy 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.