Bank of America Corp DE Lowers Stock Holdings in Evergy, Inc. (NASDAQ:EVRG)

Bank of America Corp DE trimmed its holdings in shares of Evergy, Inc. (NASDAQ:EVRG) by 32.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 920,245 shares of the company’s stock after selling 442,314 shares during the period. Bank of America Corp DE’s holdings in Evergy were worth $56,641,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Miller Howard Investments Inc. NY increased its holdings in Evergy by 1.4% during the 4th quarter. Miller Howard Investments Inc. NY now owns 11,741 shares of the company’s stock valued at $723,000 after purchasing an additional 162 shares during the period. Quent Capital LLC boosted its holdings in Evergy by 4.6% in the fourth quarter. Quent Capital LLC now owns 3,692 shares of the company’s stock worth $227,000 after acquiring an additional 163 shares in the last quarter. Mather Group LLC. increased its stake in Evergy by 5.7% during the 4th quarter. Mather Group LLC. now owns 3,231 shares of the company’s stock valued at $199,000 after purchasing an additional 173 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its position in Evergy by 2.5% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 7,322 shares of the company’s stock valued at $451,000 after acquiring an additional 182 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in Evergy by 5.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,873 shares of the company’s stock worth $238,000 after buying an additional 190 shares during the last quarter. 87.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on EVRG shares. Guggenheim raised Evergy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Barclays boosted their price target on Evergy from $72.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, April 22nd. BMO Capital Markets began coverage on Evergy in a research report on Tuesday. They issued an “outperform” rating and a $75.00 target price on the stock. UBS Group upgraded shares of Evergy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $68.00 to $78.00 in a report on Monday, April 28th. Finally, LADENBURG THALM/SH SH raised shares of Evergy to a “strong-buy” rating in a research note on Thursday, May 8th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $71.50.

Evergy Stock Down 0.9%

Shares of Evergy stock opened at $64.76 on Wednesday. The company has a market capitalization of $14.90 billion, a P/E ratio of 17.50, a P/E/G ratio of 2.82 and a beta of 0.53. The company has a 50 day moving average of $67.30 and a 200 day moving average of $64.84. Evergy, Inc. has a 52-week low of $52.10 and a 52-week high of $70.36. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15.

Evergy (NASDAQ:EVRG) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.12). The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.21 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. During the same period last year, the firm earned $0.54 EPS. As a group, research analysts forecast that Evergy, Inc. will post 3.83 EPS for the current fiscal year.

Evergy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 23rd will be issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.12%. The ex-dividend date is Friday, May 23rd. Evergy’s dividend payout ratio (DPR) is 70.45%.

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.