Voya Investment Management LLC Reduces Stock Holdings in Evergy Inc. $EVRG

Voya Investment Management LLC reduced its position in shares of Evergy Inc. (NASDAQ:EVRG) by 20.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,751 shares of the company’s stock after selling 30,104 shares during the period. Voya Investment Management LLC owned 0.05% of Evergy worth $8,875,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of EVRG. Magellan Asset Management Ltd grew its stake in shares of 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 buying an additional 2,208,799 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Evergy by 969.3% in 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 acquiring an additional 1,205,101 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Evergy by 44.4% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,470,917 shares of the company’s stock valued at $170,320,000 after acquiring an additional 760,301 shares during the last quarter. Vanguard Group Inc. grew its position in Evergy by 1.7% in the second quarter. Vanguard Group Inc. now owns 30,966,777 shares of the company’s stock worth $2,134,540,000 after acquiring an additional 521,310 shares during the period. Finally, Truist Financial Corp increased its stake in Evergy by 2,959.7% during the second quarter. Truist Financial Corp now owns 534,558 shares of the company’s stock worth $36,847,000 after acquiring an additional 517,087 shares during the last quarter. 87.24% of the stock is owned by hedge funds and other institutional investors.

Evergy Stock Performance

NASDAQ EVRG opened at $72.57 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.52 and a quick ratio of 0.30. The company has a market cap of $16.71 billion, a P/E ratio of 19.88, a P/E/G ratio of 3.14 and a beta of 0.65. The stock has a 50-day moving average of $75.92 and a two-hundred day moving average of $72.92. Evergy Inc. has a 1-year low of $59.67 and a 1-year high of $79.32.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $2.03 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.11). The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Evergy had a net margin of 14.45% and a return on equity of 8.66%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.02 EPS. As a group, analysts anticipate that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, November 21st were given a $0.695 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $2.78 annualized dividend and a yield of 3.8%. This is a boost from Evergy’s previous quarterly dividend of $0.67. Evergy’s dividend payout ratio is 76.16%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EVRG. Royal Bank Of Canada raised Evergy to a “moderate buy” rating in a research note on Tuesday, October 28th. Mizuho restated a “neutral” rating and issued a $76.00 price objective (down from $86.00) on shares of Evergy in a report on Thursday, December 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Evergy in a research note on Monday. Citigroup lifted their price target on shares of Evergy from $79.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Finally, Barclays reissued an “outperform” rating on shares of Evergy in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Evergy presently has an average rating of “Moderate Buy” and an average price target of $81.17.

About Evergy

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.