Alliancebernstein L.P. Cuts Stake in Evergy, Inc. (NASDAQ:EVRG)

Alliancebernstein L.P. cut its position in Evergy, Inc. (NASDAQ:EVRG) by 3.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 307,890 shares of the company’s stock after selling 10,176 shares during the period. Alliancebernstein L.P.’s holdings in Evergy were worth $18,951,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Evergy by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 30,665,885 shares of the company’s stock worth $1,887,485,000 after acquiring an additional 221,086 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Evergy by 5.5% in the 3rd quarter. Franklin Resources Inc. now owns 5,532,719 shares of the company’s stock worth $330,469,000 after purchasing an additional 288,619 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Evergy by 3.8% in the 4th quarter. American Century Companies Inc. now owns 3,555,122 shares of the company’s stock worth $218,818,000 after purchasing an additional 130,804 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Evergy by 9.1% in the fourth quarter. Bank of New York Mellon Corp now owns 3,085,401 shares of the company’s stock worth $189,906,000 after purchasing an additional 256,978 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Evergy by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,160,492 shares of the company’s stock valued at $132,978,000 after purchasing an additional 25,481 shares in the last quarter. 87.24% of the stock is owned by hedge funds and other institutional investors.

Evergy Stock Performance

EVRG opened at $64.36 on Tuesday. The company’s 50 day moving average is $66.79 and its 200 day moving average is $63.62. The company has a current ratio of 0.55, a quick ratio of 0.32 and a debt-to-equity ratio of 1.15. The company has a market cap of $14.80 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 2.82 and a beta of 0.52. Evergy, Inc. has a 12-month low of $49.55 and a 12-month high of $70.30.

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

Evergy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a dividend of $0.6675 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.67 annualized dividend and a dividend yield of 4.15%. Evergy’s payout ratio is 70.45%.

Analyst Upgrades and Downgrades

EVRG has been the subject of a number of recent analyst reports. Guggenheim raised Evergy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. UBS Group boosted their price objective on shares of Evergy from $66.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Barclays raised their target price on shares of Evergy from $62.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Finally, LADENBURG THALM/SH SH raised shares of Evergy to a “strong-buy” rating in a research report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $69.08.

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.