Allspring Global Investments Holdings LLC Decreases Stake in Evergy Inc. (NASDAQ:EVRG)

Allspring Global Investments Holdings LLC lessened its holdings in Evergy Inc. (NASDAQ:EVRG - Free Report) by 15.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,419 shares of the company's stock after selling 9,075 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Evergy were worth $3,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of EVRG. ExodusPoint Capital Management LP increased its stake in shares of Evergy by 164.8% in the fourth quarter. ExodusPoint Capital Management LP now owns 2,312,953 shares of the company's stock worth $142,362,000 after purchasing an additional 1,439,450 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Evergy by 8,154.8% in the first quarter. GAMMA Investing LLC now owns 973,574 shares of the company's stock valued at $67,128,000 after purchasing an additional 961,780 shares during the period. Brandes Investment Partners LP bought a new stake in shares of Evergy in the fourth quarter valued at approximately $55,652,000. Groupama Asset Managment raised its position in shares of Evergy by 3,216.6% in the fourth quarter. Groupama Asset Managment now owns 880,768 shares of the company's stock valued at $54,211,000 after purchasing an additional 854,212 shares during the period. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of Evergy in the first quarter valued at approximately $40,285,000. Institutional investors own 87.24% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on EVRG shares. LADENBURG THALM/SH SH raised shares of Evergy to a "strong-buy" rating in a research report on Thursday, May 8th. BMO Capital Markets assumed coverage on Evergy in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $75.00 target price for the company. Wall Street Zen downgraded Evergy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Barclays cut their target price on Evergy from $73.00 to $71.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Finally, Citigroup raised their target price on Evergy from $77.00 to $79.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Evergy currently has an average rating of "Moderate Buy" and an average target price of $73.19.

Evergy Price Performance

Shares of NASDAQ:EVRG traded down $0.62 on Tuesday, hitting $68.68. The company's stock had a trading volume of 2,313,900 shares, compared to its average volume of 2,068,600. The company has a 50-day simple moving average of $67.35 and a 200 day simple moving average of $66.12. Evergy Inc. has a 1 year low of $52.58 and a 1 year high of $70.36. The company has a market capitalization of $15.80 billion, a PE ratio of 18.07, a PEG ratio of 3.05 and a beta of 0.50. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.29.

Evergy (NASDAQ:EVRG - Get Free Report) last released its quarterly earnings results 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 net margin of 14.87% and a return on equity of 8.84%. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.21 billion. During the same period in the previous year, the business earned $0.54 EPS. Sell-side analysts forecast that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 23rd were issued a dividend of $0.6675 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.89%. Evergy's dividend payout ratio is 70.26%.

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.