Cary Street Partners Financial LLC Takes $3.90 Million Position in Evergy Inc. (NASDAQ:EVRG)

Key Points

• Cary Street Partners Financial LLC purchased 56,608 shares of Evergy Inc. (NASDAQ:EVRG) during the first quarter, valued at approximately $3,903,000.
• Analysts have mixed views on Evergy, with Jefferies Financial Group setting a price target of $78.00 and one analyst lowering it to a "sell" rating.
• Evergy's recent earnings report showed $1.37 billion in revenue, surpassing estimates, despite missing earnings per share expectations.

Cary Street Partners Financial LLC bought a new position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 56,608 shares of the company's stock, valued at approximately $3,903,000.

A number of other institutional investors have also added to or reduced their stakes in EVRG. Stolper Co increased its holdings in shares of Evergy by 0.5% in the first quarter. Stolper Co now owns 34,630 shares of the company's stock worth $2,388,000 after buying an additional 169 shares during the period. Retirement Planning Group LLC boosted its holdings in Evergy by 0.9% during the 4th quarter. Retirement Planning Group LLC now owns 24,372 shares of the company's stock valued at $1,500,000 after acquiring an additional 210 shares during the period. MainStreet Investment Advisors LLC grew its position in Evergy by 4.7% during the 4th quarter. MainStreet Investment Advisors LLC now owns 4,877 shares of the company's stock worth $300,000 after acquiring an additional 221 shares during the last quarter. Parallel Advisors LLC increased its stake in Evergy by 2.5% in the 1st quarter. Parallel Advisors LLC now owns 9,338 shares of the company's stock worth $644,000 after purchasing an additional 227 shares during the period. Finally, United Capital Financial Advisors LLC increased its stake in Evergy by 3.2% in the 4th quarter. United Capital Financial Advisors LLC now owns 7,976 shares of the company's stock worth $491,000 after purchasing an additional 249 shares during the period. 87.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. LADENBURG THALM/SH SH raised Evergy to a "strong-buy" rating in a research note on Thursday, May 8th. Citigroup increased their price target on shares of Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Wall Street Zen cut shares of Evergy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. BMO Capital Markets assumed coverage on shares of Evergy in a research note on Tuesday, May 13th. They set an "outperform" rating and a $75.00 price objective for the company. Finally, Mizuho raised their target price on Evergy from $70.00 to $74.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. One equities research 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.06.

Evergy Trading Down 0.5%

EVRG stock traded down $0.38 during trading on Thursday, reaching $72.87. The company had a trading volume of 3,368,161 shares, compared to its average volume of 2,532,348. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.29. Evergy Inc. has a 52 week low of $57.28 and a 52 week high of $73.97. The business has a 50 day moving average of $68.69 and a 200 day moving average of $67.39. The company has a market cap of $16.77 billion, a P/E ratio of 19.18, a PEG ratio of 3.20 and a beta of 0.48.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.04. Evergy had a return on equity of 8.84% and a net margin of 14.87%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the company earned $0.90 EPS. The business's revenue was down .7% compared to the same quarter last year. As a group, sell-side analysts forecast that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.7%. Evergy's dividend payout ratio (DPR) is presently 70.26%.

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.