Mitsubishi UFJ Trust & Banking Corp Lowers Holdings in Evergy Inc. (NASDAQ:EVRG)

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its stake in Evergy Inc. by 21.4%, selling 466,849 shares and retaining approximately 1,710,616 shares, valued at $117.9 million.
• Evergy's recent earnings report showed earnings per share of $0.54, which missed analysts' estimates, but the company generated revenues of $1.37 billion, exceeding the consensus estimate.
• Evergy recently announced a quarterly dividend of $0.6675, with a dividend yield of 3.7% and a payout ratio of 70.26%.

Mitsubishi UFJ Trust & Banking Corp reduced its stake in Evergy Inc. (NASDAQ:EVRG - Free Report) by 21.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,710,616 shares of the company's stock after selling 466,849 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.74% of Evergy worth $117,947,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sowell Financial Services LLC acquired a new position in Evergy during the 1st quarter worth approximately $267,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Evergy during the 4th quarter worth approximately $1,728,000. Kestra Private Wealth Services LLC increased its stake in Evergy by 9.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 4,562 shares of the company's stock valued at $315,000 after buying an additional 396 shares during the period. Brighton Jones LLC purchased a new stake in Evergy in the 4th quarter valued at approximately $257,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Evergy by 124.3% during the 1st quarter. Farther Finance Advisors LLC now owns 6,068 shares of the company's stock worth $419,000 after purchasing an additional 3,363 shares in the last quarter. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on EVRG shares. BMO Capital Markets started coverage on shares of Evergy in a report on Tuesday, May 13th. They set an "outperform" rating and a $75.00 target price for the company. Barclays decreased their target price on Evergy from $73.00 to $71.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Jefferies Financial Group set a $78.00 price objective on Evergy and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Wall Street Zen downgraded Evergy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, LADENBURG THALM/SH SH upgraded shares of Evergy to a "strong-buy" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Evergy has an average rating of "Moderate Buy" and a consensus target price of $74.06.

Evergy Price Performance

Shares of Evergy stock traded up $1.57 during trading on Monday, hitting $73.12. 2,824,248 shares of the stock traded hands, compared to its average volume of 2,272,778. The firm's fifty day moving average is $68.13 and its 200-day moving average is $67.17. 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 Inc. has a 52 week low of $57.28 and a 52 week high of $73.29. The stock has a market cap of $16.82 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 3.13 and a beta of 0.48.

Evergy (NASDAQ:EVRG - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.12). The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.21 billion. Evergy had a net margin of 14.87% and a return on equity of 8.84%. During the same period in the previous year, the company earned $0.54 EPS. Research analysts expect that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 23rd were issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Friday, May 23rd. Evergy's dividend payout ratio (DPR) is currently 70.26%.

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.