Redwood Investment Management LLC Sells 1,792 Shares of Evergy, Inc. (NASDAQ:EVRG)

Redwood Investment Management LLC cut its position in shares of Evergy, Inc. (NASDAQ:EVRG) by 5.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 31,463 shares of the company’s stock after selling 1,792 shares during the period. Redwood Investment Management LLC’s holdings in Evergy were worth $1,937,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Lee Danner & Bass Inc. bought a new position in Evergy during the fourth quarter valued at $26,000. National Pension Service purchased a new position in shares of Evergy during the 4th quarter worth about $30,000. Bank of Jackson Hole Trust bought a new position in Evergy during the 4th quarter valued at about $31,000. Colonial Trust Co SC bought a new stake in Evergy in the fourth quarter worth about $32,000. Finally, Sandy Spring Bank boosted its position in shares of Evergy by 5,983.3% during the fourth quarter. Sandy Spring Bank now owns 730 shares of the company’s stock valued at $45,000 after buying an additional 718 shares during the period. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Analysts Set New Price Targets

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

Evergy Stock Performance

EVRG stock opened at $64.06 on Thursday. Evergy, Inc. has a 1-year low of $52.10 and a 1-year high of $70.36. The business has a 50-day moving average price of $67.27 and a 200 day moving average price of $64.83. The company has a market capitalization of $14.74 billion, a P/E ratio of 17.31, a PEG ratio of 2.82 and a beta of 0.53. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32.

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

Evergy Dividend Announcement

The business 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 dividend of $0.6675 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.67 dividend on an annualized basis and a yield of 4.17%. Evergy’s dividend payout ratio is currently 70.26%.

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.