DC Investments Management LLC Grows Position in Evergy, Inc. (NASDAQ:EVRG)

DC Investments Management LLC increased its position in shares of Evergy, Inc. (NASDAQ:EVRG - Free Report) by 41.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,622 shares of the company's stock after buying an additional 12,130 shares during the quarter. Evergy accounts for 1.7% of DC Investments Management LLC's portfolio, making the stock its 16th biggest holding. DC Investments Management LLC's holdings in Evergy were worth $2,562,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EVRG. Lee Danner & Bass Inc. acquired a new stake in shares of Evergy during the 4th quarter worth approximately $26,000. National Pension Service bought a new position in Evergy during the fourth quarter worth about $30,000. Bank of Jackson Hole Trust acquired a new position in shares of Evergy in the 4th quarter valued at approximately $31,000. Colonial Trust Co SC bought a new stake in shares of Evergy during the fourth quarter worth $32,000. Finally, Sandy Spring Bank lifted its stake in Evergy by 5,983.3% in the 4th quarter. Sandy Spring Bank now owns 730 shares of the company's stock valued at $45,000 after acquiring an additional 718 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Guggenheim raised Evergy from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. BMO Capital Markets initiated coverage on shares of Evergy in a research note on Tuesday. They issued an "outperform" rating and a $75.00 price target on the stock. UBS Group raised Evergy from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $68.00 to $78.00 in a report on Monday, April 28th. LADENBURG THALM/SH SH raised shares of Evergy to a "strong-buy" rating in a research report on Thursday, May 8th. Finally, Barclays boosted their price objective on shares of Evergy from $72.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, April 22nd. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $71.50.

Evergy Stock Down 0.2%

Evergy stock traded down $0.16 during trading on Tuesday, hitting $65.19. 1,241,191 shares of the company were exchanged, compared to its average volume of 1,951,754. The company has a current ratio of 0.55, a quick ratio of 0.32 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $14.99 billion, a P/E ratio of 17.62, a PEG ratio of 2.82 and a beta of 0.53. The business's 50 day moving average is $67.32 and its 200 day moving average is $64.84. Evergy, Inc. has a 52 week low of $52.10 and a 52 week high of $70.36.

Evergy (NASDAQ:EVRG - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.54 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.12). The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.21 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. During the same period in the previous year, the business posted $0.54 earnings per share. Analysts predict that Evergy, Inc. will post 3.83 earnings per share for the current year.

Evergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.67 annualized dividend and a dividend yield of 4.10%. Evergy's payout ratio is 70.45%.

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.