Evergy Inc. (NASDAQ:EVRG) Stock Holdings Lessened by ING Groep NV

Key Points

• ING Groep NV has significantly reduced its stake in Evergy Inc. by 81.6%, selling 130,507 shares and now holding 29,366 shares valued at approximately $2,025,000.
• Evergy reported EPS of $0.54 in its recent quarterly earnings, missing analyst expectations of $0.66, despite revenues exceeding expectations at $1.37 billion.
• Analysts' ratings on Evergy indicate a mixed sentiment, with a consensus average rating of "Moderate Buy" and a price target of $74.06, reflecting varying opinions among experts.

ING Groep NV lowered its stake in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 81.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,366 shares of the company's stock after selling 130,507 shares during the quarter. ING Groep NV's holdings in Evergy were worth $2,025,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in EVRG. Bfsg LLC acquired a new position in shares of Evergy during the first quarter valued at $25,000. Colonial Trust Co SC acquired a new stake in shares of Evergy in the 4th quarter worth about $32,000. Alpine Bank Wealth Management bought a new stake in Evergy in the 1st quarter valued at about $32,000. Olde Wealth Management LLC acquired a new position in Evergy during the 1st quarter valued at about $32,000. Finally, LRI Investments LLC bought a new position in Evergy in the 1st quarter worth about $32,000. 87.24% of the stock is currently owned by institutional investors.

Evergy Price Performance

NASDAQ EVRG traded down $0.38 on Thursday, reaching $72.87. 3,368,161 shares of the stock traded hands, compared to its average volume of 2,532,348. Evergy Inc. has a 12 month low of $57.28 and a 12 month high of $73.97. The company has a market cap of $16.77 billion, a price-to-earnings ratio of 19.18, a P/E/G ratio of 3.20 and a beta of 0.48. The firm's fifty day simple moving average is $68.69 and its 200 day simple moving average is $67.39. The company has a quick ratio of 0.29, a current ratio of 0.55 and a debt-to-equity ratio of 1.24.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.04. The business had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.45 billion. Evergy had a return on equity of 8.84% and a net margin of 14.87%. The company's quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the business posted $0.90 earnings per share. As a group, research analysts predict that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be paid a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 3.7%. Evergy's dividend payout ratio is currently 70.26%.

Analyst Upgrades and Downgrades

Several brokerages have commented on EVRG. BMO Capital Markets started coverage on shares of Evergy in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $75.00 price target on the stock. Wall Street Zen cut Evergy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. 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 report on Monday, April 28th. Barclays decreased their price target 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, 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. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $74.06.

Evergy Company 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.