Bryn Mawr Capital Management LLC Trims Holdings in Evergy, Inc. (NYSE:EVRG)

Bryn Mawr Capital Management LLC decreased its stake in shares of Evergy, Inc. (NYSE:EVRG) by 22.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 115,282 shares of the company’s stock after selling 33,953 shares during the quarter. Bryn Mawr Capital Management LLC owned about 0.05% of Evergy worth $6,018,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Manning & Napier Group LLC raised its position in Evergy by 76.6% in the fourth quarter. Manning & Napier Group LLC now owns 2,183,788 shares of the company’s stock valued at $113,994,000 after purchasing an additional 947,196 shares during the period. Federated Hermes Inc. raised its position in Evergy by 41.3% in the fourth quarter. Federated Hermes Inc. now owns 2,942,415 shares of the company’s stock valued at $153,594,000 after purchasing an additional 860,433 shares during the period. Assenagon Asset Management S.A. raised its position in Evergy by 228.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,029,495 shares of the company’s stock valued at $52,195,000 after purchasing an additional 715,892 shares during the period. Panagora Asset Management Inc. raised its position in Evergy by 706.1% in the third quarter. Panagora Asset Management Inc. now owns 495,951 shares of the company’s stock valued at $25,145,000 after purchasing an additional 434,425 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Evergy by 19.9% in the third quarter. Bank of New York Mellon Corp now owns 2,548,598 shares of the company’s stock valued at $129,214,000 after purchasing an additional 422,152 shares during the period. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on EVRG. Barclays lifted their target price on Evergy from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. Wells Fargo & Company cut their price objective on Evergy from $60.00 to $57.00 and set an “overweight” rating on the stock in a report on Friday, March 1st. Guggenheim downgraded Evergy from a “buy” rating to a “neutral” rating and set a $52.00 price objective on the stock. in a report on Monday, January 22nd. Citigroup began coverage on Evergy in a report on Tuesday, March 26th. They issued a “buy” rating and a $64.00 price objective on the stock. Finally, Bank of America upgraded Evergy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $51.00 to $57.00 in a report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.00.

Evergy Trading Down 1.4 %

EVRG opened at $51.69 on Friday. Evergy, Inc. has a 12 month low of $46.92 and a 12 month high of $63.39. The stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 2.73 and a beta of 0.57. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.51 and a quick ratio of 0.29. The business has a fifty day moving average price of $51.36 and a 200 day moving average price of $50.99.

Evergy (NYSE:EVRG) last released its earnings results on Thursday, February 29th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.03). Evergy had a return on equity of 8.47% and a net margin of 13.28%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the firm earned $0.30 earnings per share. Sell-side analysts expect that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 11th were paid a dividend of $0.6425 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $2.57 annualized dividend and a yield of 4.97%. Evergy’s payout ratio is 80.82%.

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.