UBS Group AG Raises Position in Evergy, Inc. (NYSE:EVRG)

UBS Group AG lifted its holdings in Evergy, Inc. (NYSE:EVRG) by 135.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,492,588 shares of the company’s stock after purchasing an additional 859,628 shares during the quarter. UBS Group AG owned about 0.65% of Evergy worth $77,913,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EVRG. CVA Family Office LLC purchased a new stake in shares of Evergy during the fourth quarter worth about $29,000. Hexagon Capital Partners LLC raised its holdings in shares of Evergy by 222.2% in the fourth quarter. Hexagon Capital Partners LLC now owns 667 shares of the company’s stock worth $35,000 after buying an additional 460 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Evergy during the third quarter worth $35,000. MV Capital Management Inc. grew its holdings in shares of Evergy by 3,263.6% during the fourth quarter. MV Capital Management Inc. now owns 740 shares of the company’s stock valued at $39,000 after buying an additional 718 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Evergy by 105.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 785 shares of the company’s stock valued at $41,000 after acquiring an additional 403 shares during the period. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EVRG has been the subject of several research analyst reports. Wells Fargo & Company raised their price objective on Evergy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Barclays raised their target price on shares of Evergy from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, May 14th. Citigroup began coverage on Evergy in a research report on Tuesday, March 26th. They issued a “buy” rating and a $64.00 price objective on the stock. LADENBURG THALM/SH SH initiated coverage on shares of Evergy in a report on Thursday, April 4th. They set a “neutral” rating and a $51.00 target price for the company. Finally, Bank of America raised shares of Evergy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $51.00 to $57.00 in a report on Wednesday, March 13th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Evergy has an average rating of “Moderate Buy” and a consensus price target of $57.83.

Evergy Trading Down 1.4 %

EVRG opened at $54.84 on Thursday. The firm has a market capitalization of $12.61 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 2.90 and a beta of 0.57. The company’s 50 day simple moving average is $52.89 and its two-hundred day simple moving average is $51.67. Evergy, Inc. has a 1-year low of $46.92 and a 1-year high of $61.84. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.57 and a quick ratio of 0.32.

Evergy (NYSE:EVRG) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.07). Evergy had a return on equity of 8.32% and a net margin of 12.84%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the business posted $0.59 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Analysts expect that Evergy, Inc. will post 3.84 EPS for the current fiscal year.

Evergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Monday, May 20th will be paid a dividend of $0.6425 per share. This represents a $2.57 annualized dividend and a yield of 4.69%. The ex-dividend date is Friday, May 17th. Evergy’s dividend payout ratio (DPR) is presently 83.17%.

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.