Pacer Advisors Inc. Trims Stock Holdings in Evergy Inc. (NASDAQ:EVRG)

Key Points

• Pacer Advisors Inc. reduced its stake in Evergy Inc. by 33.8%, owning 36,573 shares valued at approximately $2.52 million after selling 18,658 shares in the first quarter.
• Several institutional investors, including Bfsg LLC and Alpine Bank Wealth Management, acquired new positions in Evergy during the same period, boosting institutional ownership to 87.24%.
• Evergy's quarterly earnings report showed an EPS of $0.54, missing estimates of $0.66, while reporting revenue of $1.37 billion, exceeding predictions of $1.21 billion.

Pacer Advisors Inc. decreased its position in Evergy Inc. (NASDAQ:EVRG - Free Report) by 33.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,573 shares of the company's stock after selling 18,658 shares during the quarter. Pacer Advisors Inc.'s holdings in Evergy were worth $2,522,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of EVRG. Franklin Resources Inc. increased its position in Evergy by 2.3% during the fourth quarter. Franklin Resources Inc. now owns 5,660,930 shares of the company's stock worth $348,430,000 after buying an additional 128,211 shares during the last quarter. Geode Capital Management LLC increased its position in Evergy by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 5,637,257 shares of the company's stock worth $346,063,000 after buying an additional 133,641 shares during the last quarter. Federated Hermes Inc. increased its position in Evergy by 2.2% during the fourth quarter. Federated Hermes Inc. now owns 3,434,216 shares of the company's stock worth $211,376,000 after buying an additional 73,066 shares during the last quarter. Northern Trust Corp increased its position in Evergy by 5.7% during the fourth quarter. Northern Trust Corp now owns 2,345,119 shares of the company's stock worth $144,342,000 after buying an additional 125,898 shares during the last quarter. Finally, ExodusPoint Capital Management LP increased its position in Evergy by 164.8% during the fourth quarter. ExodusPoint Capital Management LP now owns 2,312,953 shares of the company's stock worth $142,362,000 after buying an additional 1,439,450 shares during the last quarter. Institutional investors and hedge funds own 87.24% of the company's stock.

Evergy Trading Up 1.1%

NASDAQ EVRG traded up $0.75 on Friday, reaching $71.55. The company had a trading volume of 2,409,348 shares, compared to its average volume of 2,152,176. The firm has a market cap of $16.46 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 3.09 and a beta of 0.48. Evergy Inc. has a fifty-two week low of $57.28 and a fifty-two week high of $71.63. The business has a 50 day moving average of $68.13 and a two-hundred day moving average of $67.11. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.29.

Evergy (NASDAQ:EVRG - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.12). The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.21 billion. Evergy had a net margin of 14.87% and a return on equity of 8.84%. During the same quarter in the previous year, the company earned $0.54 earnings per share. Analysts forecast that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 23rd were given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, May 23rd. Evergy's dividend payout ratio is 70.26%.

Analysts Set New Price Targets

EVRG has been the subject of several recent research reports. BMO Capital Markets initiated coverage on Evergy in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $75.00 price target for the company. Barclays lowered their price objective on shares of Evergy from $73.00 to $71.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Jefferies Financial Group set a $78.00 price objective on shares of Evergy and gave the company a "buy" rating in a research report on Tuesday, June 10th. UBS Group upgraded shares of Evergy from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $68.00 to $78.00 in a research report on Monday, April 28th. Finally, LADENBURG THALM/SH SH upgraded shares of Evergy to a "strong-buy" rating in a 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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.