First Trust Direct Indexing L.P. Takes $227,000 Position in Evergy, Inc. (NYSE:EVRG)

First Trust Direct Indexing L.P. purchased a new position in shares of Evergy, Inc. (NYSE:EVRG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,341 shares of the company’s stock, valued at approximately $227,000.

Several other hedge funds have also recently modified their holdings of the stock. Atwood & Palmer Inc. raised its stake in shares of Evergy by 30.5% during the 4th quarter. Atwood & Palmer Inc. now owns 855 shares of the company’s stock worth $45,000 after buying an additional 200 shares in the last quarter. IFM Investors Pty Ltd lifted its holdings in Evergy by 0.3% in the fourth quarter. IFM Investors Pty Ltd now owns 73,111 shares of the company’s stock valued at $3,816,000 after acquiring an additional 206 shares during the period. Raleigh Capital Management Inc. boosted its position in shares of Evergy by 4.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 5,531 shares of the company’s stock worth $280,000 after purchasing an additional 211 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Evergy by 13.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,821 shares of the company’s stock worth $96,000 after purchasing an additional 216 shares during the period. Finally, New York Life Investment Management LLC increased its holdings in shares of Evergy by 0.7% in the 3rd quarter. New York Life Investment Management LLC now owns 32,654 shares of the company’s stock valued at $1,656,000 after purchasing an additional 224 shares in the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

Evergy Stock Performance

Shares of NYSE EVRG opened at $54.57 on Thursday. Evergy, Inc. has a 12 month low of $46.92 and a 12 month high of $63.39. The company has a 50-day simple moving average of $51.95 and a 200-day simple moving average of $51.24. The company has a market cap of $12.54 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 2.82 and a beta of 0.57. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.51 and a quick ratio of 0.29.

Evergy (NYSE:EVRG) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.03). The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.46 billion. Evergy had a return on equity of 8.47% and a net margin of 13.28%. During the same quarter last year, the business earned $0.30 EPS. On average, equities analysts anticipate that Evergy, Inc. will post 3.84 earnings per share for the current year.

Evergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 11th were given a $0.6425 dividend. The ex-dividend date was Friday, March 8th. This represents a $2.57 annualized dividend and a dividend yield of 4.71%. Evergy’s dividend payout ratio is presently 80.82%.

Wall Street Analyst Weigh In

EVRG has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH assumed coverage on shares of Evergy in a report on Thursday, April 4th. They issued a “neutral” rating and a $51.00 target price for the company. Barclays upped their target price on Evergy from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. Bank of America raised Evergy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $51.00 to $57.00 in a research note on Wednesday, March 13th. Wells Fargo & Company lowered their price objective on shares of Evergy from $60.00 to $57.00 and set an “overweight” rating on the stock in a research note on Friday, March 1st. Finally, Guggenheim cut shares of Evergy from a “buy” rating to a “neutral” rating and set a $52.00 target price for the company. in a research report on Monday, January 22nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.00.

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.