Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 27,972 Evergy Inc. (NASDAQ:EVRG)

Key Points

• Connor Clark & Lunn Investment Management Ltd. purchased 27,972 shares of Evergy Inc., valued at approximately $1,929,000, as reported in their recent Form 13F filing.
• Several institutional investors are increasing their stakes in Evergy, contributing to institutional ownership now at 87.24%.
• Evergy's recent earnings report showed an EPS of $0.82, exceeding expectations, while the company also declared a quarterly dividend of $0.6675 per share, yielding 3.7%.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 27,972 shares of the company's stock, valued at approximately $1,929,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EVRG. Bfsg LLC bought a new position in shares of Evergy in the 1st quarter valued at about $25,000. Colonial Trust Co SC bought a new position in shares of Evergy in the 4th quarter valued at about $32,000. Alpine Bank Wealth Management bought a new position in shares of Evergy in the 1st quarter valued at about $32,000. Olde Wealth Management LLC bought a new position in shares of Evergy in the 1st quarter valued at about $32,000. Finally, LRI Investments LLC bought a new position in shares of Evergy in the 1st quarter valued at about $32,000. Institutional investors own 87.24% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. UBS Group raised shares of Evergy from a "neutral" rating to a "buy" rating and increased their price target for the company from $68.00 to $78.00 in a report on Monday, April 28th. Wall Street Zen lowered shares of Evergy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. LADENBURG THALM/SH SH raised shares of Evergy to a "strong-buy" rating in a research report on Thursday, May 8th. Mizuho increased their price objective on shares of Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, Jefferies Financial Group set a $78.00 price objective on shares of Evergy and gave the stock a "buy" rating in a research report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $74.44.

Evergy Stock Down 1.2%

Shares of NASDAQ EVRG opened at $71.95 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.50. The firm has a market capitalization of $16.56 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 3.18 and a beta of 0.48. The stock has a 50 day moving average price of $69.52 and a 200 day moving average price of $67.77. Evergy Inc. has a 52-week low of $57.82 and a 52-week high of $73.97.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its quarterly earnings data 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 8.62% and a net margin of 14.29%. The company had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. Evergy's revenue was down .7% compared to the same quarter last year. Sell-side analysts expect that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be paid a $0.6675 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.67 annualized dividend and a yield of 3.7%. Evergy's dividend payout ratio is 73.35%.

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.

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