Nuveen Asset Management LLC Sells 296,295 Shares of Evergy, Inc. (NASDAQ:EVRG)

Nuveen Asset Management LLC lowered its holdings in Evergy, Inc. (NASDAQ:EVRG - Free Report) by 9.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,779,982 shares of the company's stock after selling 296,295 shares during the quarter. Nuveen Asset Management LLC owned approximately 1.21% of Evergy worth $171,108,000 at the end of the most recent quarter.

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

Evergy Stock Performance

NASDAQ:EVRG traded up $0.19 during mid-day trading on Monday, hitting $67.12. 2,077,118 shares of the company traded hands, compared to its average volume of 1,965,117. The stock's fifty day moving average price is $67.31 and its 200-day moving average price is $64.98. Evergy, Inc. has a one year low of $52.10 and a one year high of $70.36. 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 firm has a market cap of $15.44 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 2.82 and a beta of 0.53.

Evergy (NASDAQ:EVRG - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.54 earnings per share (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 the consensus estimate of $1.21 billion. During the same period last year, the business posted $0.54 EPS. Research analysts anticipate that Evergy, Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 23rd will be issued a $0.6675 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.67 dividend on an annualized basis and a yield of 3.98%. Evergy's dividend payout ratio is presently 70.26%.

Analyst Ratings Changes

A number of research analysts have issued reports on EVRG shares. UBS Group upgraded Evergy from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $68.00 to $78.00 in a research note on Monday, April 28th. 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, April 22nd. Guggenheim raised Evergy from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Citigroup lifted their price objective on Evergy from $77.00 to $79.00 and gave the stock a "buy" rating in a report on Friday. Finally, BMO Capital Markets began coverage on Evergy in a report on Tuesday, May 13th. They issued an "outperform" rating and a $75.00 price objective for the company. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Evergy presently has an average rating of "Buy" and an average price target of $72.44.

About Evergy

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.