Mirae Asset Global Investments Co. Ltd. Increases Stake in Evergy Inc. (NASDAQ:EVRG)

Mirae Asset Global Investments Co. Ltd. grew its stake in Evergy Inc. (NASDAQ:EVRG) by 13.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 26,568 shares of the company’s stock after buying an additional 3,202 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Evergy were worth $1,803,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Evergy by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 30,665,885 shares of the company’s stock worth $1,887,485,000 after purchasing an additional 221,086 shares during the last quarter. Franklin Resources Inc. lifted its stake in Evergy by 2.3% during the fourth quarter. Franklin Resources Inc. now owns 5,660,930 shares of the company’s stock worth $348,430,000 after purchasing an additional 128,211 shares during the last quarter. Geode Capital Management LLC lifted its stake in Evergy by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 5,637,257 shares of the company’s stock worth $346,063,000 after purchasing an additional 133,641 shares during the last quarter. American Century Companies Inc. lifted its stake in Evergy by 3.8% during the fourth 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 during the last quarter. Finally, Federated Hermes Inc. lifted its stake in Evergy by 2.2% during the fourth quarter. Federated Hermes Inc. now owns 3,434,216 shares of the company’s stock worth $211,376,000 after purchasing an additional 73,066 shares during the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. BMO Capital Markets assumed coverage on Evergy in a research note on Tuesday, May 13th. They set an “outperform” rating and a $75.00 target price for the company. LADENBURG THALM/SH SH upgraded Evergy to a “strong-buy” rating in a research note on Thursday, May 8th. Barclays decreased their target price on Evergy from $73.00 to $71.00 and set an “overweight” rating for the company in a research note on Friday, May 30th. Citigroup lifted their price target on Evergy from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Finally, Wall Street Zen lowered Evergy from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.19.

Evergy Trading Up 1.7%

NASDAQ:EVRG opened at $70.15 on Friday. The firm has a market cap of $16.14 billion, a P/E ratio of 18.46, a PEG ratio of 3.00 and a beta of 0.50. The company has a current ratio of 0.55, a quick ratio of 0.29 and a debt-to-equity ratio of 1.24. The stock’s 50 day simple moving average is $67.30 and its 200-day simple moving average is $65.93. Evergy Inc. has a 12-month low of $52.32 and a 12-month high of $70.36.

Evergy (NASDAQ:EVRG) last released its earnings results on Thursday, May 8th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.12). The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.21 billion. Evergy had a net margin of 14.87% and a return on equity of 8.84%. During the same period in the previous year, the firm posted $0.54 EPS. Equities analysts anticipate that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 23rd were issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend was Friday, May 23rd. Evergy’s payout ratio is currently 70.26%.

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.