CIBC Private Wealth Group LLC Trims Stock Position in Evergy, Inc. (NASDAQ:EVRG)

CIBC Private Wealth Group LLC decreased its stake in Evergy, Inc. (NASDAQ:EVRG) by 0.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 452,140 shares of the company’s stock after selling 247 shares during the period. CIBC Private Wealth Group LLC’s holdings in Evergy were worth $27,540,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Lee Danner & Bass Inc. acquired a new position in Evergy during the fourth quarter worth approximately $26,000. National Pension Service acquired a new position in shares of Evergy in the 4th quarter valued at $30,000. Bank of Jackson Hole Trust acquired a new position in shares of Evergy in the 4th quarter valued at $31,000. Sandy Spring Bank raised its position in Evergy by 5,983.3% in the 4th quarter. Sandy Spring Bank now owns 730 shares of the company’s stock valued at $45,000 after purchasing an additional 718 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Evergy during the 4th quarter worth $49,000. 87.24% of the stock is owned by hedge funds and other institutional investors.

Evergy Trading Up 1.6 %

NASDAQ EVRG opened at $68.95 on Tuesday. 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 stock has a market capitalization of $15.86 billion, a P/E ratio of 18.64, 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 firm has a 50-day moving average price of $66.37 and a 200 day moving average price of $63.40.

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

Evergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were given a dividend of $0.6675 per share. The ex-dividend date was Monday, March 10th. This represents a $2.67 annualized dividend and a dividend yield of 3.87%. Evergy’s payout ratio is currently 70.45%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. LADENBURG THALM/SH SH upgraded shares of Evergy to a “strong-buy” rating in a research note on Monday, March 17th. Barclays boosted their price target on Evergy from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Guggenheim raised Evergy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, UBS Group lifted their target price on Evergy from $66.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $69.08.

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.