Sumitomo Mitsui Trust Holdings Inc. Decreases Stock Position in Evergy, Inc. (NYSE:EVRG)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in Evergy, Inc. (NYSE:EVRG) by 8.6% during the second quarter, Holdings Channel.com reports. The fund owned 500,923 shares of the company’s stock after selling 47,059 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Evergy were worth $26,534,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in EVRG. International Assets Investment Management LLC acquired a new stake in Evergy during the 4th quarter valued at $23,900,000. Louisiana State Employees Retirement System acquired a new stake in shares of Evergy during the fourth quarter valued at $726,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Evergy by 11.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,288 shares of the company’s stock worth $2,834,000 after purchasing an additional 5,407 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in Evergy by 3.2% during the 4th quarter. J.W. Cole Advisors Inc. now owns 16,222 shares of the company’s stock worth $847,000 after purchasing an additional 497 shares in the last quarter. Finally, abrdn plc raised its stake in Evergy by 15.6% in the 4th quarter. abrdn plc now owns 76,481 shares of the company’s stock valued at $3,992,000 after purchasing an additional 10,297 shares during the last quarter. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Evergy Trading Up 0.3 %

Shares of EVRG stock opened at $58.93 on Tuesday. The firm’s 50-day simple moving average is $55.25 and its 200-day simple moving average is $53.20. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.57 and a quick ratio of 0.32. Evergy, Inc. has a 1-year low of $46.92 and a 1-year high of $61.14. The firm has a market cap of $13.55 billion, a P/E ratio of 19.07, a PEG ratio of 3.11 and a beta of 0.60.

Evergy (NYSE:EVRG) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.32 billion. Evergy had a net margin of 12.84% and a return on equity of 8.32%. During the same quarter last year, the firm posted $0.81 earnings per share. As a group, equities analysts forecast that Evergy, Inc. will post 3.84 EPS for the current year.

Evergy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Tuesday, August 20th will be issued a $0.6425 dividend. This represents a $2.57 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date is Tuesday, August 20th. Evergy’s payout ratio is currently 83.17%.

Insider Buying and Selling at Evergy

In other news, Director Ann D. Murtlow sold 3,301 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $58.85, for a total value of $194,263.85. Following the transaction, the director now directly owns 2,847 shares in the company, valued at approximately $167,545.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.47% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

EVRG has been the topic of several analyst reports. Wells Fargo & Company raised their price target on shares of Evergy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Barclays raised their target price on shares of Evergy from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Evergy presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.33.

About Evergy

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.