Summit Global Investments Takes $7.68 Million Position in Evergy, Inc. (NYSE:EVRG)

Summit Global Investments bought a new position in shares of Evergy, Inc. (NYSE:EVRG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 147,202 shares of the company’s stock, valued at approximately $7,684,000.

Several other hedge funds have also recently modified their holdings of the company. Los Angeles Capital Management LLC bought a new stake in shares of Evergy in the 4th quarter worth approximately $531,000. Natixis Advisors L.P. grew its stake in Evergy by 24.6% in the 4th quarter. Natixis Advisors L.P. now owns 90,034 shares of the company’s stock valued at $4,699,000 after buying an additional 17,788 shares in the last quarter. First Trust Direct Indexing L.P. purchased a new position in shares of Evergy during the 4th quarter valued at $227,000. Hexagon Capital Partners LLC grew its position in shares of Evergy by 222.2% during the 4th quarter. Hexagon Capital Partners LLC now owns 667 shares of the company’s stock valued at $35,000 after purchasing an additional 460 shares in the last quarter. Finally, Savant Capital LLC grew its position in shares of Evergy by 7.9% during the 4th quarter. Savant Capital LLC now owns 4,732 shares of the company’s stock valued at $247,000 after purchasing an additional 348 shares in the last quarter. Institutional investors own 87.24% of the company’s stock.

Evergy Trading Up 0.9 %

Shares of NYSE:EVRG traded up $0.49 during midday trading on Thursday, hitting $53.43. 913,856 shares of the stock traded hands, compared to its average volume of 2,492,285. The stock has a market capitalization of $12.28 billion, a PE ratio of 16.65, a P/E/G ratio of 2.73 and a beta of 0.57. The business’s 50 day moving average is $51.54 and its two-hundred day moving average is $51.07. The company has a quick ratio of 0.29, a current ratio of 0.51 and a debt-to-equity ratio of 1.14. Evergy, Inc. has a one year low of $46.92 and a one year high of $63.39.

Evergy (NYSE:EVRG) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.03). Evergy had a net margin of 13.28% and a return on equity of 8.47%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. As a group, research analysts forecast that Evergy, Inc. will post 3.84 earnings per share for the current year.

Evergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 11th were given a dividend of $0.6425 per share. This represents a $2.57 annualized dividend and a dividend yield of 4.81%. The ex-dividend date was Friday, March 8th. Evergy’s dividend payout ratio is currently 80.82%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EVRG. LADENBURG THALM/SH SH began coverage on shares of Evergy in a research report on Thursday, April 4th. They set a “neutral” rating and a $51.00 price target for the company. Wells Fargo & Company cut their target price on shares of Evergy from $60.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, March 1st. Citigroup initiated coverage on shares of Evergy in a research report on Tuesday, March 26th. They issued a “buy” rating and a $64.00 target price for the company. Barclays upped their target price on shares of Evergy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. Finally, Guggenheim lowered shares of Evergy from a “buy” rating to a “neutral” rating and set a $52.00 target price for the company. in a research report on Monday, January 22nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $56.00.

Evergy Company 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.