California State Teachers Retirement System Decreases Holdings in Evergy Inc. $EVRG

California State Teachers Retirement System lessened its holdings in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 2.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 267,287 shares of the company's stock after selling 6,881 shares during the quarter. California State Teachers Retirement System owned 0.12% of Evergy worth $23,101,615 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in EVRG. Geode Capital Management LLC lifted its position in Evergy by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 6,447,150 shares of the company's stock valued at $465,684,000 after acquiring an additional 105,842 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Evergy by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 6,091,518 shares of the company's stock valued at $441,574,000 after acquiring an additional 33,457 shares during the period. Magellan Asset Management Ltd purchased a new stake in shares of Evergy during the 2nd quarter valued at $187,857,000. Legal & General Group Plc acquired a new position in Evergy in the second quarter valued at approximately $138,233,000. Finally, Dimensional Fund Advisors LP lifted its position in Evergy by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,373,291 shares of the company's stock valued at $112,497,000 after purchasing an additional 25,881 shares during the period. Institutional investors and hedge funds own 87.24% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on EVRG shares. Citigroup upped their target price on shares of Evergy from $95.00 to $97.00 and gave the company a "buy" rating in a research note on Friday, July 24th. BTIG Research set a $97.00 price objective on shares of Evergy in a report on Thursday, July 23rd. BMO Capital Markets lifted their target price on shares of Evergy from $88.00 to $92.00 and gave the company an "outperform" rating in a report on Wednesday, July 22nd. Barclays raised their price target on shares of Evergy from $89.00 to $94.00 and gave the stock an "overweight" rating in a report on Tuesday, June 30th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Evergy in a research report on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Evergy has a consensus rating of "Moderate Buy" and an average price target of $90.60.

Evergy Trading Down 1.0%

EVRG traded down $0.78 during midday trading on Tuesday, reaching $80.08. 772,313 shares of the company's stock traded hands, compared to its average volume of 2,058,225. Evergy Inc. has a 52 week low of $71.20 and a 52 week high of $88.62. The firm has a fifty day moving average of $83.52 and a two-hundred day moving average of $83.05. The stock has a market capitalization of $18.46 billion, a price-to-earnings ratio of 20.34, a P/E/G ratio of 2.12 and a beta of 0.53. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.36 and a quick ratio of 0.21.

Evergy (NASDAQ:EVRG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.07. Evergy had a return on equity of 9.20% and a net margin of 15.19%.The business had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same period in the prior year, the firm earned $0.82 EPS. On average, equities analysts anticipate that Evergy Inc. will post 4.25 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, August 18th will be given a dividend of $0.695 per share. The ex-dividend date is Tuesday, August 18th. This represents a $2.78 dividend on an annualized basis and a yield of 3.5%. Evergy's dividend payout ratio (DPR) is 70.56%.

Evergy Profile

Evergy, Inc is an investor-owned electric utility that generates, transmits, distributes and sells electricity to residential, commercial, industrial and other customers. The company operates regulated utilities and provides electric service through its Kansas and Missouri subsidiaries.

Evergy serves customers across much of Kansas and in western Missouri, including the Kansas City metropolitan area. Its generation portfolio includes a mix of renewable and conventional resources, such as wind, solar, natural gas and coal, as well as an ownership interest in the Wolf Creek nuclear generating station in Kansas.

The company was formed in 2018 through the merger of Great Plains Energy Incorporated and Westar Energy, Inc Evergy is headquartered in Topeka, Kansas, with significant operations in the Kansas City region.

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