Evergy, Inc. (NASDAQ:EVRG) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. reduced its holdings in shares of Evergy, Inc. (NASDAQ:EVRG - Free Report) by 17.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,338,687 shares of the company's stock after selling 510,048 shares during the period. Point72 Asset Management L.P. owned about 1.02% of Evergy worth $143,946,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research analysts recently commented on the company. LADENBURG THALM/SH SH upgraded Evergy to a "strong-buy" rating in a research report on Thursday, May 8th. BMO Capital Markets assumed coverage on shares of Evergy in a research report on Tuesday, May 13th. They issued an "outperform" rating and a $75.00 price objective on the stock. Barclays boosted their target price on Evergy from $72.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, April 22nd. UBS Group raised shares of Evergy from a "neutral" rating to a "buy" rating and boosted their target price for the company from $68.00 to $78.00 in a research note on Monday, April 28th. Finally, Citigroup lifted their price objective on shares of Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a report on Friday. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $72.44.

Evergy Stock Up 0.9%

Shares of EVRG traded up $0.63 during mid-day trading on Tuesday, hitting $67.75. The company's stock had a trading volume of 1,277,009 shares, compared to its average volume of 2,320,592. Evergy, Inc. has a 52-week low of $52.10 and a 52-week high of $70.36. The company's 50-day moving average is $67.32 and its 200-day moving average is $65.03. The firm has a market capitalization of $15.59 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 2.82 and a beta of 0.53. The company has a current ratio of 0.55, a quick ratio of 0.32 and a debt-to-equity ratio of 1.15.

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

Evergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.67 annualized dividend and a dividend yield of 3.94%. Evergy's payout ratio is currently 70.26%.

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.