Synovus Financial Corp Sells 8,608 Shares of Evergy, Inc. (NASDAQ:EVRG)

Synovus Financial Corp reduced its stake in Evergy, Inc. (NASDAQ:EVRG) by 49.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,812 shares of the company’s stock after selling 8,608 shares during the quarter. Synovus Financial Corp’s holdings in Evergy were worth $542,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP grew its stake in shares of Evergy by 84.6% in the fourth quarter. Allworth Financial LP now owns 7,975 shares of the company’s stock worth $501,000 after acquiring an additional 3,654 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Evergy during the 4th quarter valued at about $49,000. Hennion & Walsh Asset Management Inc. grew its position in Evergy by 23.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 10,692 shares of the company’s stock valued at $658,000 after purchasing an additional 2,004 shares during the last quarter. SG Americas Securities LLC increased its stake in Evergy by 15,406.4% during the 4th quarter. SG Americas Securities LLC now owns 921,546 shares of the company’s stock valued at $56,721,000 after purchasing an additional 915,603 shares in the last quarter. Finally, Kingsview Wealth Management LLC purchased a new position in Evergy in the fourth quarter worth about $214,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Wall Street Analyst Weigh In

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

Evergy Stock Up 1.4 %

Evergy stock opened at $68.37 on Friday. Evergy, Inc. has a one year low of $50.36 and a one year high of $70.30. The stock has a fifty day moving average of $67.14 and a 200 day moving average of $63.89. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. The stock has a market cap of $15.73 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 2.82 and a beta of 0.52.

Evergy (NASDAQ:EVRG) last released its quarterly earnings results 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 business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.24 billion. As a group, sell-side analysts predict that Evergy, Inc. will post 3.83 EPS for the current year.

Evergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend was Monday, March 10th. Evergy’s dividend payout ratio is presently 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.