Hudson Bay Capital Management LP Cuts Position in Evergy, Inc. (NASDAQ:EVRG)

Hudson Bay Capital Management LP lowered its holdings in shares of Evergy, Inc. (NASDAQ:EVRG) by 41.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 285,689 shares of the company’s stock after selling 202,473 shares during the quarter. Hudson Bay Capital Management LP owned approximately 0.12% of Evergy worth $17,584,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Evergy by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 30,665,885 shares of the company’s stock valued at $1,887,485,000 after acquiring an additional 221,086 shares during the period. Franklin Resources Inc. increased its stake in shares of Evergy by 2.3% during the fourth quarter. Franklin Resources Inc. now owns 5,660,930 shares of the company’s stock worth $348,430,000 after purchasing an additional 128,211 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Evergy by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 5,637,257 shares of the company’s stock worth $346,063,000 after purchasing an additional 133,641 shares in the last quarter. American Century Companies Inc. lifted its stake in Evergy by 3.8% in the 4th quarter. American Century Companies Inc. now owns 3,555,122 shares of the company’s stock valued at $218,818,000 after buying an additional 130,804 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in Evergy by 2.2% in the 4th quarter. Federated Hermes Inc. now owns 3,434,216 shares of the company’s stock valued at $211,376,000 after buying an additional 73,066 shares in the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

Evergy Trading Up 0.1 %

NASDAQ EVRG opened at $66.60 on Friday. Evergy, Inc. has a 12 month low of $52.10 and a 12 month high of $70.36. The stock has a market capitalization of $15.32 billion, a P/E ratio of 18.00, a PEG ratio of 2.82 and a beta of 0.53. The firm’s 50-day moving average is $67.35 and its two-hundred day moving average is $64.78. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32.

Evergy (NASDAQ:EVRG) last posted its earnings results on Thursday, May 8th. The company reported $0.54 earnings per share 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 analyst estimates of $1.21 billion. During the same quarter last year, the business posted $0.54 EPS. On average, sell-side analysts anticipate that Evergy, Inc. will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 23rd will be given 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 4.01%. Evergy’s dividend payout ratio is presently 70.45%.

Analyst Ratings Changes

A number of equities analysts have commented on EVRG shares. LADENBURG THALM/SH SH raised Evergy to a “strong-buy” rating in a report on Thursday. UBS Group raised Evergy from a “neutral” rating to a “buy” rating and increased 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 shares of Evergy from $72.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 22nd. Finally, Guggenheim upgraded shares of Evergy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Evergy currently has an average rating of “Buy” and a consensus target price of $70.92.

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.