HITE Hedge Asset Management LLC Sells 48,934 Shares of Evergy, Inc. (NASDAQ:EVRG)

HITE Hedge Asset Management LLC cut its holdings in shares of Evergy, Inc. (NASDAQ:EVRG - Free Report) by 16.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 256,594 shares of the company's stock after selling 48,934 shares during the period. Evergy accounts for 1.2% of HITE Hedge Asset Management LLC's portfolio, making the stock its 29th biggest position. HITE Hedge Asset Management LLC owned approximately 0.11% of Evergy worth $15,793,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EVRG. Lee Danner & Bass Inc. purchased a new position in shares of Evergy during the fourth quarter valued at approximately $26,000. National Pension Service bought a new stake in Evergy in the fourth quarter worth $30,000. Bank of Jackson Hole Trust purchased a new stake in shares of Evergy in the fourth quarter worth $31,000. Sandy Spring Bank increased its holdings in shares of Evergy by 5,983.3% during the fourth quarter. Sandy Spring Bank now owns 730 shares of the company's stock valued at $45,000 after acquiring an additional 718 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Evergy during the fourth quarter valued at $49,000. Institutional investors own 87.24% of the company's stock.

Evergy Stock Performance

Shares of Evergy stock traded down $0.48 during trading hours on Wednesday, reaching $67.88. 647,788 shares of the stock traded hands, compared to its average volume of 1,953,990. Evergy, Inc. has a one year low of $51.49 and a one year high of $70.30. The firm has a market capitalization of $15.61 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 2.82 and a beta of 0.52. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15. The company has a 50 day moving average price of $67.22 and a 200 day moving average price of $64.05.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.11). Evergy had a net margin of 14.77% and a return on equity of 8.77%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.24 billion. On average, equities research analysts expect that Evergy, Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend was Monday, March 10th. Evergy's dividend payout ratio is presently 70.45%.

Analyst Ratings Changes

A number of analysts have weighed in on EVRG shares. Guggenheim upgraded shares of Evergy from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. UBS Group raised their price target on shares of Evergy from $66.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Barclays lifted their target price on Evergy from $72.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, LADENBURG THALM/SH SH raised Evergy to a "strong-buy" rating in a research report on Monday, March 17th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Evergy currently has a consensus rating of "Buy" and a consensus price target of $69.25.

Evergy 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.