Independent Advisor Alliance Decreases Stock Holdings in Evergy, Inc. (NASDAQ:EVRG)

Independent Advisor Alliance lowered its holdings in Evergy, Inc. (NASDAQ:EVRG) by 57.1% during the 4th quarter, Holdings Channel reports. The firm owned 10,509 shares of the company’s stock after selling 13,978 shares during the period. Independent Advisor Alliance’s holdings in Evergy were worth $647,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. FMR LLC boosted its stake in Evergy by 131.4% in the third quarter. FMR LLC now owns 2,004,414 shares of the company’s stock valued at $124,294,000 after acquiring an additional 1,138,138 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Evergy by 15,406.4% in the 4th quarter. SG Americas Securities LLC now owns 921,546 shares of the company’s stock worth $56,721,000 after purchasing an additional 915,603 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Evergy by 42.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,135,011 shares of the company’s stock valued at $132,392,000 after purchasing an additional 634,735 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Evergy by 25.8% during the third quarter. Point72 Asset Management L.P. now owns 2,848,735 shares of the company’s stock valued at $176,650,000 after purchasing an additional 583,923 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Evergy in the fourth quarter worth $32,488,000. Institutional investors own 87.24% of the company’s stock.

Evergy Stock Up 1.3 %

Shares of NASDAQ EVRG opened at $67.45 on Monday. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15. The company has a market cap of $15.51 billion, a P/E ratio of 18.23, a P/E/G ratio of 2.82 and a beta of 0.62. Evergy, Inc. has a 52 week low of $49.55 and a 52 week high of $69.93. The business has a 50-day simple moving average of $65.02 and a two-hundred day simple moving average of $62.81.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.11). Evergy had a net margin of 14.77% and a return on equity of 8.77%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Research analysts anticipate that Evergy, Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a $0.6675 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.96%. Evergy’s dividend payout ratio (DPR) is presently 70.45%.

Wall Street Analyst Weigh In

EVRG has been the topic of a number of recent research reports. LADENBURG THALM/SH SH raised Evergy from a “neutral” rating to a “buy” rating and upped their price target for the company from $59.00 to $68.50 in a research report on Thursday, January 2nd. Barclays upped their price objective on shares of Evergy from $62.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Finally, Guggenheim upgraded shares of Evergy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.