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

Key Points

• LSV Asset Management has reduced its stake in Evergy Inc. by 1.9%, owning 291,700 shares valued at approximately $20.1 million following the sale of 5,600 shares.
• Evergy's stock received positive coverage from various brokerages, with target prices ranging from $71.00 to $78.00, reflecting a consensus rating of "Moderate Buy."
• The company announced a quarterly dividend of $0.6675, with an annualized yield of 3.7% and a payout ratio of 70.26%.

LSV Asset Management lessened its holdings in Evergy Inc. (NASDAQ:EVRG - Free Report) by 1.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 291,700 shares of the company's stock after selling 5,600 shares during the quarter. LSV Asset Management owned approximately 0.13% of Evergy worth $20,113,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Bfsg LLC bought a new position in shares of Evergy during the 1st quarter worth $25,000. Colonial Trust Co SC bought a new position in shares of Evergy during the 4th quarter worth $32,000. Alpine Bank Wealth Management bought a new position in shares of Evergy during the 1st quarter worth $32,000. Olde Wealth Management LLC bought a new stake in Evergy during the first quarter valued at about $32,000. Finally, LRI Investments LLC bought a new stake in Evergy during the first quarter valued at about $32,000. Institutional investors own 87.24% of the company's stock.

Evergy Stock Up 0.3%

NASDAQ EVRG traded up $0.21 during trading on Wednesday, hitting $73.25. The company's stock had a trading volume of 2,903,415 shares, compared to its average volume of 2,362,297. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.29. The company has a market cap of $16.85 billion, a PE ratio of 19.28, a P/E/G ratio of 3.20 and a beta of 0.48. The business's 50 day simple moving average is $68.41 and its 200-day simple moving average is $67.28. Evergy Inc. has a fifty-two week low of $57.28 and a fifty-two week high of $73.66.

Evergy (NASDAQ:EVRG - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.12). The business had revenue of $1.37 billion during 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 period in the prior year, the business posted $0.54 EPS. On average, equities analysts anticipate that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EVRG has been the topic of a number of recent research reports. Citigroup raised their price objective on Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a research report on Friday, May 16th. UBS Group raised Evergy from a "neutral" rating to a "buy" rating and raised their price objective for the company from $68.00 to $78.00 in a research report on Monday, April 28th. LADENBURG THALM/SH SH raised Evergy to a "strong-buy" rating in a research report on Thursday, May 8th. BMO Capital Markets initiated coverage on Evergy in a research report on Tuesday, May 13th. They set an "outperform" rating and a $75.00 price objective on the stock. Finally, Mizuho raised their price objective on Evergy from $70.00 to $74.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. One 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 company. According to MarketBeat, Evergy has an average rating of "Moderate Buy" and an average price target of $74.06.

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.