Mitsubishi UFJ Trust & Banking Corp Trims Stake in Evergy, Inc. (NASDAQ:EVRG)

Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of Evergy, Inc. (NASDAQ:EVRG) by 13.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,177,465 shares of the company’s stock after selling 350,112 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.95% of Evergy worth $134,033,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC purchased a new stake in Evergy during the 3rd quarter worth about $226,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Evergy during the third quarter worth about $281,000. PNC Financial Services Group Inc. raised its position in shares of Evergy by 25.4% in the third quarter. PNC Financial Services Group Inc. now owns 64,388 shares of the company’s stock valued at $3,993,000 after buying an additional 13,036 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Evergy by 6.1% during the third quarter. Advisors Asset Management Inc. now owns 23,182 shares of the company’s stock valued at $1,438,000 after buying an additional 1,327 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Evergy by 42.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,135,011 shares of the company’s stock valued at $132,392,000 after acquiring an additional 634,735 shares during the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

Evergy Price Performance

Evergy stock opened at $67.51 on Tuesday. The firm has a fifty day moving average of $65.86 and a 200-day moving average of $63.15. Evergy, Inc. has a 52-week low of $49.55 and a 52-week high of $69.93. 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 firm has a market capitalization of $15.53 billion, a P/E ratio of 18.25, a PEG ratio of 2.82 and a beta of 0.62.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.11). The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.24 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. As a group, analysts predict that Evergy, Inc. will post 3.83 EPS for the current year.

Evergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 3.95%. The ex-dividend date was Monday, March 10th. Evergy’s dividend payout ratio (DPR) is presently 70.45%.

Analysts Set New Price Targets

Several research firms recently commented on EVRG. Guggenheim upgraded Evergy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. UBS Group raised their target price on shares of Evergy from $66.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday. Barclays upped their price target on shares of Evergy from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Finally, LADENBURG THALM/SH SH upgraded shares of Evergy to a “strong-buy” rating in a report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $68.36.

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.