Intech Investment Management LLC Sells 11,672 Shares of Evergy Inc. $EVRG

Intech Investment Management LLC lessened its holdings in shares of Evergy Inc. (NASDAQ:EVRG) by 27.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 31,455 shares of the company’s stock after selling 11,672 shares during the period. Intech Investment Management LLC’s holdings in Evergy were worth $2,391,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Magellan Asset Management Ltd increased its position in Evergy by 1,418.7% in the 2nd quarter. Magellan Asset Management Ltd now owns 2,364,493 shares of the company’s stock valued at $162,985,000 after acquiring an additional 2,208,799 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Evergy by 346.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,046,787 shares of the company’s stock worth $155,597,000 after purchasing an additional 1,588,100 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Evergy by 969.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,329,424 shares of the company’s stock valued at $101,063,000 after purchasing an additional 1,205,101 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Evergy in the third quarter valued at approximately $72,860,000. Finally, Truist Financial Corp raised its position in Evergy by 169.2% in the 3rd quarter. Truist Financial Corp now owns 1,438,958 shares of the company’s stock worth $109,390,000 after purchasing an additional 904,400 shares during the last quarter. 87.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Evergy news, Director Ann D. Murtlow sold 2,847 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $82.34, for a total value of $234,421.98. Following the completion of the transaction, the director directly owned 2,311 shares in the company, valued at $190,287.74. This trade represents a 55.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.42% of the company’s stock.

Evergy Stock Up 0.5%

Shares of EVRG stock opened at $84.41 on Wednesday. Evergy Inc. has a 12-month low of $61.94 and a 12-month high of $85.23. The company has a quick ratio of 0.27, a current ratio of 0.49 and a debt-to-equity ratio of 1.27. The firm has a fifty day moving average of $77.14 and a 200-day moving average of $75.61. The company has a market capitalization of $19.44 billion, a price-to-earnings ratio of 23.00, a P/E/G ratio of 3.33 and a beta of 0.65.

Evergy (NASDAQ:EVRG) last released its earnings results on Saturday, January 31st. The company reported $0.42 EPS for the quarter. Evergy had a return on equity of 8.79% and a net margin of 14.35%. As a group, equities research analysts predict that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Tuesday, March 10th will be issued a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a yield of 3.3%. The ex-dividend date is Tuesday, March 10th. Evergy’s dividend payout ratio is presently 75.75%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on EVRG shares. Citigroup lifted their price objective on Evergy from $89.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Wall Street Zen upgraded shares of Evergy from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Barclays boosted their price target on shares of Evergy from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, January 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Evergy in a research note on Monday, December 29th. Finally, BMO Capital Markets lifted their target price on shares of Evergy from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Evergy presently has an average rating of “Moderate Buy” and an average target price of $86.88.

Evergy Company Profile

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company’s business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.