LSV Asset Management Reduces Stock Position in Evergy, Inc. (NYSE:EVRG)

LSV Asset Management decreased its holdings in shares of Evergy, Inc. (NYSE:EVRG - Free Report) by 22.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 387,000 shares of the company's stock after selling 110,400 shares during the quarter. LSV Asset Management owned about 0.17% of Evergy worth $20,201,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EVRG. Manning & Napier Group LLC lifted its stake in Evergy by 76.6% during the 4th quarter. Manning & Napier Group LLC now owns 2,183,788 shares of the company's stock worth $113,994,000 after acquiring an additional 947,196 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Evergy by 41.3% in the fourth quarter. Federated Hermes Inc. now owns 2,942,415 shares of the company's stock valued at $153,594,000 after purchasing an additional 860,433 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Evergy by 228.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,029,495 shares of the company's stock worth $52,195,000 after buying an additional 715,892 shares during the period. Panagora Asset Management Inc. lifted its holdings in Evergy by 706.1% during the 3rd quarter. Panagora Asset Management Inc. now owns 495,951 shares of the company's stock worth $25,145,000 after buying an additional 434,425 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Evergy by 19.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,548,598 shares of the company's stock valued at $129,214,000 after buying an additional 422,152 shares during the period. Hedge funds and other institutional investors own 87.24% of the company's stock.

Evergy Stock Performance

Shares of Evergy stock traded up $0.49 on Tuesday, reaching $54.45. 1,877,386 shares of the stock were exchanged, compared to its average volume of 2,507,210. The firm has a market capitalization of $12.51 billion, a PE ratio of 16.97, a PEG ratio of 2.82 and a beta of 0.57. Evergy, Inc. has a 1-year low of $46.92 and a 1-year high of $63.39. The business has a fifty day moving average price of $51.77 and a two-hundred day moving average price of $51.18. The company has a current ratio of 0.51, a quick ratio of 0.29 and a debt-to-equity ratio of 1.14.

Evergy (NYSE:EVRG - Get Free Report) last issued its earnings results on Thursday, February 29th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.03). Evergy had a return on equity of 8.47% and a net margin of 13.28%. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same period last year, the company posted $0.30 earnings per share. As a group, research analysts anticipate that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 11th were issued a dividend of $0.6425 per share. This represents a $2.57 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend was Friday, March 8th. Evergy's dividend payout ratio is currently 80.82%.

Analysts Set New Price Targets

A number of analysts have recently commented on EVRG shares. Wells Fargo & Company cut their target price on Evergy from $60.00 to $57.00 and set an "overweight" rating on the stock in a research report on Friday, March 1st. LADENBURG THALM/SH SH began coverage on shares of Evergy in a research report on Thursday, April 4th. They set a "neutral" rating and a $51.00 target price on the stock. Citigroup assumed coverage on shares of Evergy in a research report on Tuesday, March 26th. They issued a "buy" rating and a $64.00 price target for the company. Guggenheim lowered shares of Evergy from a "buy" rating to a "neutral" rating and set a $52.00 price objective on the stock. in a research note on Monday, January 22nd. Finally, Bank of America upgraded shares of Evergy from a "neutral" rating to a "buy" rating and increased their target price for the stock from $51.00 to $57.00 in a research note on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $56.00.

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.