Nuveen Asset Management LLC Cuts Position in Evergy, Inc. (NASDAQ:EVRG)

Nuveen Asset Management LLC lowered its holdings in shares of Evergy, Inc. (NASDAQ:EVRG) by 9.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 reporting period.

A number of other hedge funds also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Evergy by 230.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 125,184 shares of the company’s stock worth $7,705,000 after buying an additional 87,304 shares during the period. Investment Management Corp of Ontario raised its position in Evergy by 761.8% during the fourth quarter. Investment Management Corp of Ontario now owns 65,549 shares of the company’s stock worth $4,035,000 after acquiring an additional 57,943 shares during the period. Janus Henderson Group PLC raised its position in Evergy by 2.6% during the fourth quarter. Janus Henderson Group PLC now owns 20,958 shares of the company’s stock worth $1,290,000 after acquiring an additional 527 shares during the period. Gotham Asset Management LLC lifted its holdings in Evergy by 40.5% during the fourth quarter. Gotham Asset Management LLC now owns 250,199 shares of the company’s stock valued at $15,400,000 after purchasing an additional 72,126 shares in the last quarter. Finally, Focus Partners Wealth grew its position in shares of Evergy by 119.0% in the fourth quarter. Focus Partners Wealth now owns 12,852 shares of the company’s stock valued at $802,000 after purchasing an additional 6,984 shares during the period. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Evergy Price Performance

EVRG stock opened at $65.70 on Friday. Evergy, Inc. has a 1 year low of $52.10 and a 1 year high of $70.36. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32. The firm has a market capitalization of $15.12 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 2.82 and a beta of 0.53. The business has a 50 day simple moving average of $67.28 and a 200-day simple moving average of $64.87.

Evergy (NASDAQ:EVRG) 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 company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the company earned $0.54 earnings per share. Equities research analysts anticipate that Evergy, Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 23rd will be given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Friday, May 23rd. Evergy’s payout ratio is currently 70.26%.

Wall Street Analysts Forecast Growth

EVRG has been the subject of several research analyst reports. UBS Group upgraded shares of Evergy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $68.00 to $78.00 in a research report on Monday, April 28th. Barclays increased their target price on Evergy from $72.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, April 22nd. BMO Capital Markets started coverage on Evergy in a research note on Tuesday. They issued an “outperform” rating and a $75.00 price target on the stock. LADENBURG THALM/SH SH upgraded Evergy to a “strong-buy” rating in a research report on Thursday, May 8th. Finally, Guggenheim upgraded Evergy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $71.50.

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.