Vestcor Inc Cuts Stock Position in Evergy, Inc. (NASDAQ:EVRG)

Vestcor Inc trimmed its holdings in shares of Evergy, Inc. (NASDAQ:EVRG) by 29.4% in the fourth quarter, Holdings Channel reports. The firm owned 15,161 shares of the company’s stock after selling 6,321 shares during the period. Vestcor Inc’s holdings in Evergy were worth $933,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. National Pension Service purchased a new stake in shares of Evergy in the fourth quarter worth about $30,000. Bank of Jackson Hole Trust purchased a new position in Evergy in the 4th quarter worth approximately $31,000. Truvestments Capital LLC purchased a new position in Evergy in the 3rd quarter worth approximately $32,000. SBI Securities Co. Ltd. acquired a new stake in Evergy in the fourth quarter valued at approximately $49,000. Finally, USA Financial Formulas purchased a new stake in shares of Evergy during the fourth quarter valued at approximately $73,000. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Stock Up 1.3 %

NASDAQ:EVRG opened at $67.45 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. The company has a market capitalization of $15.51 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 2.82 and a beta of 0.62. Evergy, Inc. has a one year low of $49.55 and a one year high of $69.93. The stock has a 50-day simple moving average of $65.02 and a 200 day simple moving average of $62.78.

Evergy (NASDAQ:EVRG) last issued its earnings results on Thursday, February 27th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.11). Evergy had a return on equity of 8.77% and a net margin of 14.77%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.24 billion. Sell-side analysts predict that Evergy, Inc. will post 3.83 EPS for the current fiscal year.

Evergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Monday, March 10th. Evergy’s dividend payout ratio is currently 70.45%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EVRG shares. LADENBURG THALM/SH SH upgraded shares of Evergy from a “neutral” rating to a “buy” rating and upped their target price for the company from $59.00 to $68.50 in a research note on Thursday, January 2nd. Guggenheim raised shares of Evergy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Barclays lifted their target price on Evergy from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Evergy presently has an average rating of “Moderate Buy” and an average target price of $68.42.

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.