Retirement Systems of Alabama Cuts Stock Holdings in Evergy, Inc. (NYSE:EVRG)

Retirement Systems of Alabama lessened its stake in Evergy, Inc. (NYSE:EVRG) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,629 shares of the company’s stock after selling 1,307 shares during the period. Retirement Systems of Alabama’s holdings in Evergy were worth $2,643,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of EVRG. Transcend Capital Advisors LLC purchased a new stake in shares of Evergy during the fourth quarter valued at approximately $418,000. Headlands Technologies LLC boosted its position in Evergy by 207.9% during the 4th quarter. Headlands Technologies LLC now owns 40,009 shares of the company’s stock valued at $2,088,000 after buying an additional 27,016 shares during the period. Syon Capital LLC bought a new stake in Evergy in the 4th quarter worth $241,000. Meritage Portfolio Management increased its position in shares of Evergy by 99.2% in the fourth quarter. Meritage Portfolio Management now owns 90,844 shares of the company’s stock valued at $4,742,000 after acquiring an additional 45,232 shares during the period. Finally, Atria Wealth Solutions Inc. raised its stake in shares of Evergy by 133.9% during the fourth quarter. Atria Wealth Solutions Inc. now owns 10,889 shares of the company’s stock valued at $568,000 after acquiring an additional 6,234 shares during the last quarter. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EVRG shares. Barclays boosted their price target on Evergy from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. Wells Fargo & Company decreased their price objective on shares of Evergy from $60.00 to $57.00 and set an “overweight” rating for the company in a report on Friday, March 1st. LADENBURG THALM/SH SH assumed coverage on shares of Evergy in a research report on Thursday, April 4th. They set a “neutral” rating and a $51.00 price target on the stock. Citigroup started coverage on Evergy in a research report on Tuesday, March 26th. They set a “buy” rating and a $64.00 price objective on the stock. Finally, Bank of America raised Evergy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $51.00 to $57.00 in a research report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.00.

Evergy Stock Performance

Evergy stock opened at $54.45 on Wednesday. Evergy, Inc. has a twelve month low of $46.92 and a twelve month high of $63.39. The company has a quick ratio of 0.29, a current ratio of 0.51 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $12.51 billion, a P/E ratio of 17.12, a PEG ratio of 2.82 and a beta of 0.57. The stock’s 50 day moving average is $51.85 and its 200 day moving average is $51.22.

Evergy (NYSE:EVRG) last released 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). The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.46 billion. Evergy had a return on equity of 8.47% and a net margin of 13.28%. During the same period last year, the firm posted $0.30 earnings per share. On average, equities research analysts predict that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The company 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 was Friday, March 8th. This represents a $2.57 annualized dividend and a dividend yield of 4.72%. Evergy’s dividend payout ratio 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.