Wealthfront Advisers LLC Lowers Stake in Evergy, Inc. (NASDAQ:EVRG)

Wealthfront Advisers LLC lowered its stake in shares of Evergy, Inc. (NASDAQ:EVRG) by 77.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 13,568 shares of the company’s stock after selling 46,304 shares during the period. Wealthfront Advisers LLC’s holdings in Evergy were worth $835,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. National Pension Service purchased a new position in Evergy in the 4th quarter valued at approximately $30,000. Bank of Jackson Hole Trust purchased a new position in Evergy in the 4th quarter valued at approximately $31,000. Truvestments Capital LLC purchased a new position in Evergy in the 3rd quarter valued at approximately $32,000. SBI Securities Co. Ltd. purchased a new position in Evergy in the 4th quarter valued at approximately $49,000. Finally, USA Financial Formulas purchased a new position in Evergy in the 4th quarter valued at approximately $73,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Evergy Price Performance

Shares of EVRG opened at $67.45 on Friday. Evergy, Inc. has a twelve month low of $49.55 and a twelve month high of $69.93. The company has a current ratio of 0.55, a quick ratio of 0.32 and a debt-to-equity ratio of 1.15. The firm’s fifty day simple moving average is $65.02 and its 200-day simple moving average is $62.78. The firm has a market capitalization of $15.51 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 2.82 and a beta of 0.62.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.24 billion. Equities analysts forecast that Evergy, Inc. will post 3.83 EPS for the current fiscal year.

Evergy Dividend Announcement

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

Wall Street Analyst Weigh In

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

Evergy Company 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.