Evergy Inc. (NASDAQ:EVRG) Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its stake in Evergy Inc. by 69.2%, selling over 1.7 million shares and owning approximately 0.34% of the company worth $54 million at the end of the first quarter.
• Evergy announced a quarterly dividend of $0.6675 per share, representing an annualized dividend of $2.67 and a yield of 3.7%, to be paid on September 19th.
• The company's latest earnings report showed a profit of $0.82 per share, exceeding analysts' expectations of $0.78, despite a 0.7% decline in quarterly revenue year-over-year.

Deutsche Bank AG trimmed its holdings in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 69.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 785,908 shares of the company's stock after selling 1,764,153 shares during the period. Deutsche Bank AG owned approximately 0.34% of Evergy worth $54,188,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of EVRG. Bfsg LLC acquired a new position in Evergy during the first quarter worth about $25,000. Colonial Trust Co SC acquired a new position in Evergy during the fourth quarter worth about $32,000. Alpine Bank Wealth Management acquired a new position in Evergy during the first quarter worth about $32,000. Olde Wealth Management LLC acquired a new position in Evergy during the first quarter worth about $32,000. Finally, LRI Investments LLC acquired a new position in Evergy during the first quarter worth about $32,000. 87.24% of the stock is owned by institutional investors and hedge funds.

Evergy Stock Performance

Shares of NASDAQ EVRG opened at $72.42 on Tuesday. Evergy Inc. has a one year low of $57.82 and a one year high of $73.97. The firm has a market capitalization of $16.67 billion, a PE ratio of 19.90, a PEG ratio of 3.17 and a beta of 0.48. The company has a current ratio of 0.50, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average price of $68.93 and a two-hundred day moving average price of $67.58.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.04. Evergy had a return on equity of 8.62% and a net margin of 14.29%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the company posted $0.90 EPS. The business's quarterly revenue was down .7% compared to the same quarter last year. As a group, analysts predict that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.7%. Evergy's dividend payout ratio (DPR) is 73.35%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. UBS Group raised Evergy from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $68.00 to $78.00 in a report on Monday, April 28th. Mizuho increased their price target on Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a research report on Friday. Citigroup increased their price target on Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Wall Street Zen lowered Evergy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, BMO Capital Markets initiated coverage on Evergy in a research report on Tuesday, May 13th. They issued an "outperform" rating and a $75.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.44.

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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