BTG Pactual Global Asset Management Ltd Grows Stock Holdings in Evergy, Inc. (NYSE:EVRG)

BTG Pactual Global Asset Management Ltd increased its position in Evergy, Inc. (NYSE:EVRG) by 131.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,350 shares of the company’s stock after purchasing an additional 34,860 shares during the quarter. Evergy accounts for 0.8% of BTG Pactual Global Asset Management Ltd’s portfolio, making the stock its 21st largest position. BTG Pactual Global Asset Management Ltd’s holdings in Evergy were worth $3,584,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Red Tortoise LLC boosted its stake in shares of Evergy by 793.5% in the first quarter. Red Tortoise LLC now owns 411 shares of the company’s stock valued at $25,000 after purchasing an additional 365 shares during the period. Bank of New Hampshire purchased a new position in shares of Evergy in the second quarter valued at $28,000. Clear Street Markets LLC boosted its stake in shares of Evergy by 92.7% in the first quarter. Clear Street Markets LLC now owns 451 shares of the company’s stock valued at $28,000 after purchasing an additional 217 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Evergy in the second quarter valued at $30,000. Finally, Moisand Fitzgerald Tamayo LLC bought a new position in Evergy during the 2nd quarter valued at $31,000. 82.82% of the stock is currently owned by hedge funds and other institutional investors.

Evergy Stock Performance

Shares of NYSE:EVRG traded up $0.06 on Friday, reaching $50.39. 3,568,667 shares of the company’s stock were exchanged, compared to its average volume of 1,551,350. The firm has a market capitalization of $11.58 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 3.25 and a beta of 0.55. Evergy, Inc. has a fifty-two week low of $46.92 and a fifty-two week high of $65.39. The business’s 50-day moving average is $50.50 and its two-hundred day moving average is $55.75. The company has a quick ratio of 0.24, a current ratio of 0.39 and a debt-to-equity ratio of 0.95.

Evergy (NYSE:EVRG) last issued its earnings results on Tuesday, November 7th. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. Evergy had a net margin of 12.16% and a return on equity of 8.59%. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the company earned $2.01 earnings per share. As a group, equities research analysts forecast that Evergy, Inc. will post 3.58 EPS for the current year.

Evergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, November 22nd will be issued a $0.6425 dividend. This represents a $2.57 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend is Tuesday, November 21st. This is a boost from Evergy’s previous quarterly dividend of $0.61. Evergy’s dividend payout ratio (DPR) is 86.82%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on EVRG shares. Bank of America upgraded shares of Evergy from an “underperform” rating to a “neutral” rating and reduced their price objective for the company from $52.00 to $49.00 in a research note on Tuesday, October 3rd. Wells Fargo & Company reduced their price objective on shares of Evergy from $65.00 to $56.00 in a research note on Monday, October 2nd. Barclays started coverage on shares of Evergy in a research note on Wednesday, August 23rd. They set an “equal weight” rating and a $56.00 price objective on the stock. Guggenheim reduced their price objective on shares of Evergy from $62.00 to $54.00 in a research note on Monday, October 9th. Finally, Wolfe Research downgraded shares of Evergy from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 11th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $56.17.

Evergy Profile

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Kansas and Missouri, the United States. The company generates electricity through coal, hydroelectric, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources.