Jennison Associates LLC Has $105.33 Million Stock Position in Evergy Inc. $EVRG

Jennison Associates LLC trimmed its position in Evergy Inc. (NASDAQ:EVRG - Free Report) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,452,966 shares of the company's stock after selling 178,566 shares during the quarter. Jennison Associates LLC owned approximately 0.63% of Evergy worth $105,326,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC increased its holdings in shares of Evergy by 100.0% in the third quarter. Synergy Asset Management LLC now owns 148,940 shares of the company's stock valued at $11,322,000 after purchasing an additional 74,470 shares during the last quarter. Caprock Group LLC acquired a new position in shares of Evergy in the third quarter valued at $1,482,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Evergy in the third quarter valued at $72,860,000. Oppenheimer Asset Management Inc. increased its holdings in shares of Evergy by 9.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 209,307 shares of the company's stock valued at $15,912,000 after purchasing an additional 18,783 shares during the last quarter. Finally, iA Global Asset Management Inc. increased its holdings in shares of Evergy by 207.0% in the third quarter. iA Global Asset Management Inc. now owns 22,624 shares of the company's stock valued at $1,720,000 after purchasing an additional 15,254 shares during the last quarter. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Evergy

In related news, Director Ann D. Murtlow sold 2,847 shares of the company's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $82.34, for a total value of $234,421.98. Following the transaction, the director directly owned 2,311 shares in the company, valued at approximately $190,287.74. This represents a 55.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Charles L. King sold 2,440 shares of the company's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $82.19, for a total transaction of $200,543.60. Following the completion of the transaction, the senior vice president owned 18,359 shares in the company, valued at $1,508,926.21. This trade represents a 11.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 8,937 shares of company stock worth $736,492. Corporate insiders own 1.52% of the company's stock.

Evergy Trading Up 1.9%

EVRG stock opened at $82.84 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.27 and a current ratio of 0.49. The company's 50-day simple moving average is $82.06 and its 200 day simple moving average is $78.12. Evergy Inc. has a 52 week low of $63.29 and a 52 week high of $85.27. The company has a market capitalization of $19.08 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 2.11 and a beta of 0.61.

Evergy (NASDAQ:EVRG - Get Free Report) last released its quarterly earnings results on Saturday, January 31st. The company reported $0.42 EPS for the quarter. Evergy had a net margin of 14.35% and a return on equity of 8.79%. As a group, sell-side analysts anticipate that Evergy Inc. will post 4.25 earnings per share for the current year.

Evergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Tuesday, March 10th were paid a $0.695 dividend. The ex-dividend date was Tuesday, March 10th. This represents a $2.78 annualized dividend and a dividend yield of 3.4%. Evergy's dividend payout ratio is 75.75%.

Analyst Upgrades and Downgrades

Several research firms have commented on EVRG. Wells Fargo & Company set a $87.00 price objective on shares of Evergy in a report on Tuesday, April 21st. Wall Street Zen upgraded shares of Evergy from a "sell" rating to a "hold" rating in a report on Saturday, February 21st. Mizuho set a $82.00 price objective on shares of Evergy in a report on Monday, February 23rd. Bank of America decreased their price objective on shares of Evergy from $89.00 to $88.00 and set a "buy" rating on the stock in a report on Tuesday, April 14th. Finally, UBS Group downgraded shares of Evergy from a "buy" rating to a "neutral" rating and upped their price objective for the company from $86.00 to $88.00 in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Evergy currently has a consensus rating of "Moderate Buy" and an average target price of $89.30.

Evergy Profile

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company's business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.