Evergy Inc. (NASDAQ:EVRG) Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has reduced its holdings in Evergy Inc. by 0.7%, owning approximately 13.24% of the company with a value of $2.1 billion after selling 220,418 shares in the first quarter.
• Evergy recently reported earnings of $0.82 per share, exceeding expectations, but experienced a slight year-over-year revenue decline of 0.7%, bringing in $1.43 billion.
• The company has announced a quarterly dividend of $0.6675 per share, with a dividend yield of 3.7%, payable on September 19th.

Vanguard Group Inc. cut its position in Evergy Inc. (NASDAQ:EVRG - Free Report) by 0.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,445,467 shares of the company's stock after selling 220,418 shares during the quarter. Vanguard Group Inc. owned approximately 13.24% of Evergy worth $2,099,215,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bfsg LLC purchased a new stake in Evergy in the 1st quarter worth approximately $25,000. Colonial Trust Co SC purchased a new stake in Evergy in the 4th quarter worth approximately $32,000. Alpine Bank Wealth Management purchased a new position in shares of Evergy during the 1st quarter valued at approximately $32,000. Olde Wealth Management LLC purchased a new position in shares of Evergy during the 1st quarter valued at approximately $32,000. Finally, LRI Investments LLC purchased a new position in shares of Evergy during the 1st quarter valued at approximately $32,000. 87.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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 objective for the company. Wall Street Zen downgraded Evergy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Barclays cut their target price on Evergy from $73.00 to $71.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. UBS Group raised Evergy from a "neutral" rating to a "buy" rating and raised their target price for the stock from $68.00 to $78.00 in a research note on Monday, April 28th. Finally, Citigroup raised their target price on Evergy from $77.00 to $79.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $74.44.

Evergy Stock Performance

EVRG traded up $0.21 during trading on Tuesday, hitting $72.63. 1,704,600 shares of the stock were exchanged, compared to its average volume of 2,540,108. The firm has a market capitalization of $16.72 billion, a P/E ratio of 19.95, a PEG ratio of 3.17 and a beta of 0.48. Evergy Inc. has a 1-year low of $57.82 and a 1-year high of $73.97. The stock has a fifty day moving average price of $69.06 and a two-hundred day moving average price of $67.61. The company has a quick ratio of 0.27, a current ratio of 0.50 and a debt-to-equity ratio of 1.24.

Evergy (NASDAQ:EVRG - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.78 by $0.04. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.45 billion. Evergy had a return on equity of 8.62% and a net margin of 14.29%. The firm's revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 earnings per share. As a group, sell-side analysts predict that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be issued a $0.6675 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.7%. Evergy's payout ratio is presently 73.35%.

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.