Evergy Inc. (NASDAQ:EVRG) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 8.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 304,196 shares of the company's stock after selling 26,890 shares during the period. Envestnet Asset Management Inc. owned 0.13% of Evergy worth $20,974,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in EVRG. ExodusPoint Capital Management LP increased its position in shares of Evergy by 164.8% during the 4th quarter. ExodusPoint Capital Management LP now owns 2,312,953 shares of the company's stock valued at $142,362,000 after purchasing an additional 1,439,450 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Evergy by 8,154.8% in the 1st quarter. GAMMA Investing LLC now owns 973,574 shares of the company's stock worth $67,128,000 after buying an additional 961,780 shares during the last quarter. Groupama Asset Managment grew its position in shares of Evergy by 3,216.6% in the 4th quarter. Groupama Asset Managment now owns 880,768 shares of the company's stock worth $54,211,000 after buying an additional 854,212 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Evergy in the 1st quarter worth approximately $40,285,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Evergy during the fourth quarter valued at approximately $32,488,000. Hedge funds and other institutional investors own 87.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EVRG. UBS Group upgraded 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 research note on Monday, April 28th. Jefferies Financial Group set a $78.00 price target on Evergy and gave the company a "buy" rating in a report on Tuesday, June 10th. Citigroup boosted their price target on Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a report on Friday, May 16th. BMO Capital Markets started coverage on Evergy in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $75.00 price objective for the company. Finally, Barclays dropped their price objective on Evergy from $73.00 to $71.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $74.06.

Evergy Trading Up 1.6%

Shares of EVRG stock traded up $1.06 during trading on Friday, hitting $68.90. 1,980,515 shares of the stock traded hands, compared to its average volume of 2,107,320. The firm has a market capitalization of $15.85 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 2.96 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 Inc. has a 52-week low of $54.76 and a 52-week high of $70.36. The firm's fifty day moving average price is $67.35 and its 200-day moving average price is $66.49.

Evergy (NASDAQ:EVRG - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.54 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.12). The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.21 billion. Evergy had a return on equity of 8.84% and a net margin of 14.87%. During the same quarter in the previous year, the firm posted $0.54 EPS. As a group, research analysts forecast that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 3.88%. Evergy's dividend payout ratio is currently 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.