Evergy, Inc. (NASDAQ:EVRG) Stake Lifted by Jones Financial Companies Lllp

Jones Financial Companies Lllp increased its position in shares of Evergy, Inc. (NASDAQ:EVRG) by 58.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,486 shares of the company’s stock after purchasing an additional 42,268 shares during the period. Jones Financial Companies Lllp’s holdings in Evergy were worth $7,047,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. National Pension Service acquired a new position in shares of Evergy during the 4th quarter valued at $30,000. Bank of Jackson Hole Trust bought a new position in Evergy during the fourth quarter valued at about $31,000. Truvestments Capital LLC acquired a new position in Evergy during the third quarter worth about $32,000. Sentry Investment Management LLC bought a new stake in Evergy in the third quarter worth about $51,000. Finally, USA Financial Formulas acquired a new stake in Evergy in the 4th quarter valued at about $73,000. Institutional investors own 87.24% of the company’s stock.

Evergy Stock Up 0.9 %

Shares of Evergy stock opened at $69.52 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.32 and a debt-to-equity ratio of 1.15. Evergy, Inc. has a 1 year low of $48.86 and a 1 year high of $69.90. The stock has a 50-day moving average price of $64.00 and a 200 day moving average price of $62.24. The company has a market cap of $15.99 billion, a P/E ratio of 18.79, a P/E/G ratio of 2.82 and a beta of 0.66.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.11). Evergy had a return on equity of 8.77% and a net margin of 14.77%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. As a group, analysts expect that Evergy, Inc. will post 3.83 EPS for the current fiscal year.

Evergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Monday, March 10th. Evergy’s dividend payout ratio is currently 70.45%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EVRG. LADENBURG THALM/SH SH raised shares of Evergy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $59.00 to $68.50 in a research note on Thursday, January 2nd. Guggenheim upgraded shares of Evergy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Barclays dropped their price target on Evergy from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $65.36.

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.