Envestnet Asset Management Inc. Increases Stock Holdings in Evergy, Inc. (NASDAQ:EVRG)

Envestnet Asset Management Inc. increased its stake in shares of Evergy, Inc. (NASDAQ:EVRG) by 3.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 331,086 shares of the company’s stock after acquiring an additional 9,514 shares during the period. Envestnet Asset Management Inc.’s holdings in Evergy were worth $20,378,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lee Danner & Bass Inc. acquired a new position in shares of Evergy during the fourth quarter worth $26,000. National Pension Service purchased a new stake in Evergy during the 4th quarter worth $30,000. Bank of Jackson Hole Trust acquired a new position in Evergy in the 4th quarter worth $31,000. Sandy Spring Bank boosted its position in Evergy by 5,983.3% in the 4th quarter. Sandy Spring Bank now owns 730 shares of the company’s stock valued at $45,000 after buying an additional 718 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Evergy during the fourth quarter valued at about $49,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Guggenheim raised Evergy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. UBS Group lifted their price objective on Evergy from $66.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. LADENBURG THALM/SH SH upgraded Evergy to a “strong-buy” rating in a research note on Monday, March 17th. Finally, Barclays lifted their price target on shares of Evergy from $62.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Evergy has an average rating of “Buy” and a consensus price target of $69.08.

Evergy Trading Up 1.6 %

NASDAQ:EVRG opened at $67.59 on Tuesday. The company has a market cap of $15.55 billion, a PE ratio of 18.27, a P/E/G ratio of 2.82 and a beta of 0.52. The business’s 50 day moving average is $66.99 and its two-hundred day moving average is $63.79. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15. Evergy, Inc. has a 52 week low of $49.55 and a 52 week high of $70.30.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.11). The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.24 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. On average, analysts predict that Evergy, Inc. will post 3.83 EPS for the current year.

Evergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend was Monday, March 10th. Evergy’s dividend payout ratio (DPR) is presently 70.45%.

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.