Cypress Capital Management LLC lowered its stake in Evergy, Inc. (NYSE:EVRG) by 14.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 177,545 shares of the company’s stock after selling 30,670 shares during the quarter. Evergy comprises approximately 1.5% of Cypress Capital Management LLC’s investment portfolio, making the stock its 24th biggest holding. Cypress Capital Management LLC’s holdings in Evergy were worth $10,569,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Magellan Asset Management Ltd lifted its position in shares of Evergy by 75.8% in the fourth quarter. Magellan Asset Management Ltd now owns 4,401,238 shares of the company’s stock worth $244,313,000 after purchasing an additional 1,898,284 shares in the last quarter. Cibc World Markets Corp lifted its position in shares of Evergy by 42.5% in the first quarter. Cibc World Markets Corp now owns 59,573 shares of the company’s stock worth $3,546,000 after purchasing an additional 17,777 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Evergy by 31.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 70,326 shares of the company’s stock worth $3,904,000 after buying an additional 16,879 shares during the last quarter. Van ECK Associates Corp increased its holdings in Evergy by 32.7% during the fourth quarter. Van ECK Associates Corp now owns 27,115 shares of the company’s stock worth $1,505,000 after buying an additional 6,678 shares during the last quarter. Finally, Rockland Trust Co. increased its holdings in Evergy by 1.6% during the first quarter. Rockland Trust Co. now owns 193,240 shares of the company’s stock worth $11,504,000 after buying an additional 2,953 shares during the last quarter. 82.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:EVRG traded down $0.23 on Friday, hitting $63.78. The company had a trading volume of 5,664 shares, compared to its average volume of 1,545,705. Evergy, Inc. has a 1-year low of $48.61 and a 1-year high of $65.43. The company has a market cap of $14.62 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 3.25 and a beta of 0.37. The stock’s 50 day moving average is $62.54. The company has a current ratio of 0.62, a quick ratio of 0.47 and a debt-to-equity ratio of 1.03.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 21st. Shareholders of record on Friday, May 21st will be issued a $0.535 dividend. The ex-dividend date is Thursday, May 20th. This represents a $2.14 annualized dividend and a dividend yield of 3.36%. Evergy’s dividend payout ratio is currently 69.03%.
In related news, Director C John Wilder acquired 2,269,447 shares of the firm’s stock in a transaction on Wednesday, April 14th. The shares were purchased at an average cost of $49.87 per share, for a total transaction of $113,177,321.89. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is owned by insiders.
A number of brokerages recently weighed in on EVRG. Zacks Investment Research downgraded shares of Evergy from a “buy” rating to a “hold” rating and set a $64.00 target price on the stock. in a report on Wednesday, April 7th. Wolfe Research upgraded shares of Evergy from a “peer perform” rating to an “outperform” rating and set a $69.00 target price on the stock in a report on Monday, April 19th. Finally, Wells Fargo & Company boosted their target price on shares of Evergy from $60.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, April 14th.
Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Kansas and Missouri, the United States. It generates electricity through coal, hydroelectric, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources.
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