Geode Capital Management LLC Acquires 133,641 Shares of Evergy, Inc. (NASDAQ:EVRG)

Geode Capital Management LLC boosted its holdings in Evergy, Inc. (NASDAQ:EVRG) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,637,257 shares of the company’s stock after acquiring an additional 133,641 shares during the quarter. Geode Capital Management LLC owned 2.45% of Evergy worth $346,063,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in EVRG. Diametric Capital LP bought a new position in shares of Evergy during the 4th quarter worth approximately $218,000. Tradewinds LLC. bought a new stake in shares of Evergy in the 4th quarter worth about $236,000. National Bank of Canada FI increased its position in shares of Evergy by 24.8% during the 4th quarter. National Bank of Canada FI now owns 339,685 shares of the company’s stock worth $20,908,000 after purchasing an additional 67,556 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings in Evergy by 21.6% during the 4th quarter. HighPoint Advisor Group LLC now owns 10,381 shares of the company’s stock valued at $687,000 after purchasing an additional 1,846 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Evergy by 2.3% in the fourth quarter. Franklin Resources Inc. now owns 5,660,930 shares of the company’s stock valued at $348,430,000 after buying an additional 128,211 shares in the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Price Performance

Evergy stock opened at $66.18 on Friday. The stock has a market cap of $15.22 billion, a price-to-earnings ratio of 17.89, a P/E/G ratio of 2.82 and a beta of 0.52. Evergy, Inc. has a 12-month low of $49.55 and a 12-month high of $70.30. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15. The business’s 50-day simple moving average is $66.79 and its 200 day simple moving average is $63.57.

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

Evergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a dividend of $0.6675 per share. The ex-dividend date was Monday, March 10th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.03%. Evergy’s dividend payout ratio (DPR) is presently 70.45%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on EVRG shares. LADENBURG THALM/SH SH raised Evergy to a “strong-buy” rating in a report on Monday, March 17th. Guggenheim upgraded Evergy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. UBS Group raised their target price on Evergy from $66.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Finally, Barclays upped their price target on shares of Evergy from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $69.08.

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.