Contravisory Investment Management Inc. Buys Shares of 12,563 Evergy, Inc. (NASDAQ:EVRG)

Contravisory Investment Management Inc. acquired a new stake in Evergy, Inc. (NASDAQ:EVRG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,563 shares of the company's stock, valued at approximately $866,000.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Evergy by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 30,665,885 shares of the company's stock worth $1,887,485,000 after purchasing an additional 221,086 shares during the last quarter. Franklin Resources Inc. grew its position in Evergy by 2.3% during the 4th quarter. Franklin Resources Inc. now owns 5,660,930 shares of the company's stock worth $348,430,000 after purchasing an additional 128,211 shares during the period. Geode Capital Management LLC grew its position in Evergy by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 5,637,257 shares of the company's stock worth $346,063,000 after purchasing an additional 133,641 shares during the period. American Century Companies Inc. raised its stake in shares of Evergy by 3.8% during the 4th quarter. American Century Companies Inc. now owns 3,555,122 shares of the company's stock valued at $218,818,000 after buying an additional 130,804 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Evergy by 2.2% in the 4th quarter. Federated Hermes Inc. now owns 3,434,216 shares of the company's stock valued at $211,376,000 after buying an additional 73,066 shares during the period. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on EVRG shares. Wall Street Zen lowered Evergy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. LADENBURG THALM/SH SH raised shares of Evergy to a "strong-buy" rating in a research note on Thursday, May 8th. UBS Group raised shares of Evergy from a "neutral" rating to a "buy" rating and increased their price target for the stock from $68.00 to $78.00 in a report on Monday, April 28th. Citigroup lifted their price objective on shares of Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a report on Friday, May 16th. Finally, BMO Capital Markets began coverage on shares of Evergy in a research note on Tuesday, May 13th. They set an "outperform" rating and a $75.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $72.19.

Evergy Price Performance

Shares of EVRG stock traded up $0.02 on Thursday, reaching $65.07. 1,590,549 shares of the company were exchanged, compared to its average volume of 1,980,006. Evergy, Inc. has a 1 year low of $52.10 and a 1 year high of $70.36. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. The business has a 50-day moving average price of $67.03 and a 200 day moving average price of $65.31. The company has a market cap of $14.97 billion, a price-to-earnings ratio of 17.59, a P/E/G ratio of 2.82 and a beta of 0.50.

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

Evergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 23rd will be issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.10%. The ex-dividend date is Friday, May 23rd. Evergy's payout ratio is currently 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.