Evergy, Inc. (NYSE:EVRG) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Evergy, Inc. (NYSE:EVRG) by 85.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,076 shares of the company’s stock after purchasing an additional 18,910 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Evergy were worth $2,144,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Atwood & Palmer Inc. boosted its holdings in Evergy by 30.5% in the fourth quarter. Atwood & Palmer Inc. now owns 855 shares of the company’s stock worth $45,000 after purchasing an additional 200 shares during the period. IFM Investors Pty Ltd lifted its stake in Evergy by 0.3% in the fourth quarter. IFM Investors Pty Ltd now owns 73,111 shares of the company’s stock valued at $3,816,000 after buying an additional 206 shares during the last quarter. Raleigh Capital Management Inc. lifted its stake in Evergy by 4.0% in the third quarter. Raleigh Capital Management Inc. now owns 5,531 shares of the company’s stock valued at $280,000 after buying an additional 211 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Evergy by 13.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,821 shares of the company’s stock valued at $96,000 after buying an additional 216 shares during the last quarter. Finally, Caprock Group LLC lifted its stake in Evergy by 4.0% in the third quarter. Caprock Group LLC now owns 5,751 shares of the company’s stock valued at $292,000 after buying an additional 222 shares during the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Price Performance

Shares of Evergy stock opened at $52.48 on Thursday. The company has a current ratio of 0.51, a quick ratio of 0.29 and a debt-to-equity ratio of 1.14. The company’s 50-day moving average price is $51.25 and its two-hundred day moving average price is $50.97. Evergy, Inc. has a 52 week low of $46.92 and a 52 week high of $63.84. The stock has a market cap of $12.06 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 2.72 and a beta of 0.57.

Evergy (NYSE:EVRG) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.03). Evergy had a return on equity of 8.47% and a net margin of 13.28%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the firm posted $0.30 earnings per share. As a group, sell-side analysts anticipate that Evergy, Inc. will post 3.84 EPS for the current fiscal year.

Evergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were given a $0.6425 dividend. This represents a $2.57 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend was Friday, March 8th. Evergy’s dividend payout ratio (DPR) is presently 80.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Guggenheim cut Evergy from a “buy” rating to a “neutral” rating and set a $52.00 target price on the stock. in a research note on Monday, January 22nd. Bank of America upgraded Evergy from a “neutral” rating to a “buy” rating and raised their target price for the company from $51.00 to $57.00 in a research note on Wednesday, March 13th. Wells Fargo & Company cut their price objective on shares of Evergy from $60.00 to $57.00 and set an “overweight” rating on the stock in a research note on Friday, March 1st. Barclays lifted their price objective on shares of Evergy from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. Finally, LADENBURG THALM/SH SH began coverage on shares of Evergy in a research note on Thursday, April 4th. They set a “neutral” rating and a $51.00 price objective on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus 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.