Wedge Capital Management L L P NC Sells 7,805 Shares of Evergy, Inc. (NASDAQ:EVRG)

Wedge Capital Management L L P NC reduced its stake in shares of Evergy, Inc. (NASDAQ:EVRG - Free Report) by 3.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 191,353 shares of the company's stock after selling 7,805 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.08% of Evergy worth $13,194,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Lee Danner & Bass Inc. bought a new position in Evergy in the 4th quarter worth about $26,000. National Pension Service purchased a new stake in shares of Evergy in the fourth quarter valued at approximately $30,000. Bank of Jackson Hole Trust bought a new position in Evergy in the fourth quarter worth approximately $31,000. Colonial Trust Co SC bought a new position in Evergy in the fourth quarter worth approximately $32,000. Finally, Sandy Spring Bank increased its holdings in Evergy by 5,983.3% during the 4th quarter. Sandy Spring Bank now owns 730 shares of the company's stock worth $45,000 after purchasing an additional 718 shares during the period. 87.24% of the stock is currently owned by institutional investors.

Evergy Price Performance

Shares of EVRG opened at $65.24 on Friday. The company has a 50 day moving average of $66.88 and a two-hundred day moving average of $65.34. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15. Evergy, Inc. has a twelve month low of $52.10 and a twelve month high of $70.36. The company has a market cap of $15.01 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 2.82 and a beta of 0.50.

Evergy (NASDAQ:EVRG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.12). Evergy had a net margin of 14.77% and a return on equity of 8.77%. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter in the prior year, the company posted $0.54 EPS. As a group, analysts predict that Evergy, Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 23rd will be given a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend is Friday, May 23rd. Evergy's payout ratio is currently 70.26%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EVRG. Wall Street Zen downgraded Evergy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. 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 note on Friday, May 30th. UBS Group raised shares of Evergy from a "neutral" rating to a "buy" rating and raised their target price for the company from $68.00 to $78.00 in a research report on Monday, April 28th. BMO Capital Markets initiated coverage on shares of Evergy in a report on Tuesday, May 13th. They issued an "outperform" rating and a $75.00 price target for the company. Finally, Citigroup increased their price objective on shares of Evergy from $77.00 to $79.00 and gave the company 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 assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.19.

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.

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