State of Alaska Department of Revenue Sells 71,526 Shares of Evergy, Inc. (NYSE:EVRG)

Posted by Defense World Staff on Mar 24th, 2023

State of Alaska Department of Revenue reduced its holdings in shares of Evergy, Inc. (NYSE:EVRG – Get Rating) by 49.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,016 shares of the company’s stock after selling 71,526 shares during the quarter. State of Alaska Department of Revenue’s holdings in Evergy were worth $4,530,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. raised its stake in shares of Evergy by 1.3% in the first quarter. PNC Financial Services Group Inc. now owns 14,198 shares of the company’s stock valued at $969,000 after buying an additional 179 shares during the period. Cibc World Market Inc. raised its stake in shares of Evergy by 25.8% in the first quarter. Cibc World Market Inc. now owns 5,924 shares of the company’s stock valued at $405,000 after buying an additional 1,214 shares during the period. Blair William & Co. IL raised its stake in shares of Evergy by 5.5% in the first quarter. Blair William & Co. IL now owns 12,622 shares of the company’s stock valued at $863,000 after buying an additional 657 shares during the period. Sei Investments Co. raised its stake in shares of Evergy by 28.4% in the first quarter. Sei Investments Co. now owns 322,941 shares of the company’s stock valued at $22,058,000 after buying an additional 71,345 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of Evergy by 1,332.5% in the first quarter. Canada Pension Plan Investment Board now owns 374,061 shares of the company’s stock valued at $25,563,000 after buying an additional 347,949 shares during the period. 83.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Kevin E. Bryant sold 22,500 shares of the business’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $59.81, for a total transaction of $1,345,725.00. Following the completion of the transaction, the chief operating officer now directly owns 32,993 shares in the company, valued at $1,973,311.33. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.32% of the stock is owned by company insiders.

Evergy Price Performance

Evergy stock opened at $57.15 on Friday. Evergy, Inc. has a 52 week low of $54.12 and a 52 week high of $73.13. The business has a 50-day simple moving average of $60.51 and a 200 day simple moving average of $61.36. The company has a quick ratio of 0.33, a current ratio of 0.53 and a debt-to-equity ratio of 1.04. The stock has a market cap of $13.12 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 3.17 and a beta of 0.48.

Evergy (NYSE:EVRG – Get Rating) last posted its earnings results on Friday, February 24th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.22 by $0.08. Evergy had a return on equity of 9.17% and a net margin of 12.85%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $956.63 million. During the same period in the previous year, the business earned $0.16 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. On average, research analysts forecast that Evergy, Inc. will post 3.65 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 22nd. Investors of record on Thursday, March 9th were given a dividend of $0.6125 per share. This represents a $2.45 annualized dividend and a yield of 4.29%. The ex-dividend date was Wednesday, March 8th. Evergy’s payout ratio is 75.15%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EVRG shares. TheStreet lowered Evergy from a “b” rating to a “c+” rating in a research note on Thursday, February 23rd. Credit Suisse Group lowered Evergy from an “outperform” rating to an “underperform” rating and decreased their price objective for the company from $61.00 to $57.00 in a research note on Tuesday, November 29th. Finally, Wells Fargo & Company decreased their price objective on Evergy from $69.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Monday, January 30th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $61.20.

Evergy Company Profile

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Evergy, Inc is a holding company, which engages in the provision of electricity through its subsidiaries. It focuses on the regulation of electric utilities and development of electric transmission projects. The company was founded in 2017 and is headquartered in Kansas City, MO.