Resona Asset Management Co. Ltd. Grows Position in Evergy Inc. (NASDAQ:EVRG)

Resona Asset Management Co. Ltd. boosted its stake in Evergy Inc. (NASDAQ:EVRG) by 8.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 80,252 shares of the company’s stock after buying an additional 6,099 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Evergy were worth $5,521,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of EVRG. Brighton Jones LLC purchased a new stake in shares of Evergy during the 4th quarter valued at $257,000. Townsquare Capital LLC purchased a new stake in shares of Evergy during the 4th quarter valued at $567,000. Mariner LLC increased its position in shares of Evergy by 5.7% during the 4th quarter. Mariner LLC now owns 54,281 shares of the company’s stock valued at $3,341,000 after purchasing an additional 2,926 shares during the last quarter. CreativeOne Wealth LLC increased its position in shares of Evergy by 7.7% during the 4th quarter. CreativeOne Wealth LLC now owns 12,848 shares of the company’s stock valued at $791,000 after purchasing an additional 923 shares during the last quarter. Finally, United Capital Financial Advisors LLC increased its position in shares of Evergy by 3.2% during the 4th quarter. United Capital Financial Advisors LLC now owns 7,976 shares of the company’s stock valued at $491,000 after purchasing an additional 249 shares during the last quarter. 87.24% of the stock is owned by hedge funds and other institutional investors.

Evergy Trading Down 1.2%

Shares of EVRG opened at $71.95 on Friday. The business has a 50-day moving average of $69.52 and a 200 day moving average of $67.77. Evergy Inc. has a fifty-two week low of $57.82 and a fifty-two week high of $73.97. The firm has a market cap of $16.56 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 3.18 and a beta of 0.48. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.50.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.04. Evergy had a return on equity of 8.62% and a net margin of 14.29%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the firm posted $0.90 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. As a group, research analysts forecast that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 22nd will be paid a $0.6675 dividend. The ex-dividend date is Friday, August 22nd. This represents a $2.67 annualized dividend and a yield of 3.7%. Evergy’s dividend payout ratio (DPR) is currently 73.35%.

Analyst Ratings Changes

EVRG has been the subject of several research analyst reports. UBS Group raised Evergy from a “neutral” rating to a “buy” rating and raised their target price for the company from $68.00 to $78.00 in a research report on Monday, April 28th. Barclays decreased their target price on Evergy from $73.00 to $71.00 and set an “overweight” rating for the company in a research report on Friday, May 30th. LADENBURG THALM/SH SH raised Evergy to a “strong-buy” rating in a research report on Thursday, May 8th. BMO Capital Markets initiated coverage on Evergy in a research report on Tuesday, May 13th. They set an “outperform” rating and a $75.00 target price for the company. Finally, Jefferies Financial Group set a $78.00 price objective on Evergy and gave the stock a “buy” rating in a report on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.44.

Evergy 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.