Truist Financial Corp Has $4.62 Million Position in Evergy, Inc. (NYSE:EVRG)

Truist Financial Corp reduced its stake in Evergy, Inc. (NYSE:EVRG) by 32.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 88,456 shares of the company’s stock after selling 42,061 shares during the quarter. Truist Financial Corp’s holdings in Evergy were worth $4,617,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. CVA Family Office LLC acquired a new position in shares of Evergy during the fourth quarter worth approximately $29,000. Itau Unibanco Holding S.A. acquired a new position in shares of Evergy during the third quarter worth approximately $35,000. MV Capital Management Inc. lifted its holdings in shares of Evergy by 3,263.6% during the fourth quarter. MV Capital Management Inc. now owns 740 shares of the company’s stock worth $39,000 after buying an additional 718 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Evergy by 105.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 785 shares of the company’s stock worth $41,000 after buying an additional 403 shares during the last quarter. Finally, Headinvest LLC acquired a new position in shares of Evergy in the third quarter valued at $40,000. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EVRG. Guggenheim lowered Evergy from a “buy” rating to a “neutral” rating and set a $52.00 target price for the company. in a research note on Monday, January 22nd. Citigroup began coverage on Evergy in a research note on Tuesday, March 26th. They issued a “buy” rating and a $64.00 target price for the company. Bank of America upgraded Evergy from a “neutral” rating to a “buy” rating and upped their target price for the company from $51.00 to $57.00 in a research note on Wednesday, March 13th. LADENBURG THALM/SH SH began coverage on Evergy in a research note on Thursday, April 4th. They issued a “neutral” rating and a $51.00 target price for the company. Finally, Wells Fargo & Company cut their target price on Evergy from $60.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $56.00.

Evergy Stock Performance

Shares of NYSE:EVRG opened at $54.10 on Monday. The business’s fifty day moving average price is $51.68 and its two-hundred day moving average price is $51.14. Evergy, Inc. has a fifty-two week low of $46.92 and a fifty-two week high of $63.39. The stock has a market capitalization of $12.43 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 2.82 and a beta of 0.57. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.51 and a quick ratio of 0.29.

Evergy (NYSE:EVRG) last announced its earnings results on Thursday, February 29th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.03). Evergy had a return on equity of 8.47% and a net margin of 13.28%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company posted $0.30 EPS. As a group, analysts predict that Evergy, Inc. will post 3.84 EPS for the current fiscal year.

Evergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 11th were paid a $0.6425 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $2.57 dividend on an annualized basis and a dividend yield of 4.75%. Evergy’s dividend payout ratio (DPR) is presently 80.82%.

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.