Cornercap Investment Counsel Inc. Invests $780,000 in Evergy Inc. (NASDAQ:EVRG)

Cornercap Investment Counsel Inc. purchased a new position in Evergy Inc. (NASDAQ:EVRG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,315 shares of the company's stock, valued at approximately $780,000.

A number of other hedge funds have also made changes to their positions in EVRG. Brighton Jones LLC purchased a new stake in shares of Evergy in the fourth quarter worth approximately $257,000. Proficio Capital Partners LLC purchased a new stake in shares of Evergy in the fourth quarter worth approximately $2,591,000. AlphaQuest LLC purchased a new stake in shares of Evergy in the fourth quarter worth approximately $173,000. HighTower Advisors LLC lifted its position in shares of Evergy by 0.9% in the fourth quarter. HighTower Advisors LLC now owns 98,029 shares of the company's stock worth $6,034,000 after purchasing an additional 843 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Evergy in the fourth quarter worth approximately $201,000. 87.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EVRG has been the topic of several recent research reports. LADENBURG THALM/SH SH raised shares of Evergy to a "strong-buy" rating in a research report on Thursday, May 8th. Barclays cut their price objective on shares of Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. UBS Group raised shares of Evergy from a "neutral" rating to a "buy" rating and raised their price objective for the company from $68.00 to $78.00 in a research report on Monday, April 28th. Citigroup raised their price objective 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. Finally, BMO Capital Markets initiated coverage on shares of Evergy in a research report on Tuesday, May 13th. They set an "outperform" rating and a $75.00 price objective on the stock. One research 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 MarketBeat, Evergy presently has an average rating of "Moderate Buy" and an average price target of $73.19.

Evergy Trading Down 0.7%

Shares of EVRG stock opened at $68.50 on Tuesday. Evergy Inc. has a 12 month low of $54.09 and a 12 month high of $70.36. The company has a quick ratio of 0.29, a current ratio of 0.55 and a debt-to-equity ratio of 1.24. The business's 50 day moving average is $67.36 and its two-hundred day moving average is $66.33. The company has a market cap of $15.76 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 3.00 and a beta of 0.50.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.12). Evergy had a net margin of 14.87% and a return on equity of 8.84%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the business earned $0.54 EPS. Equities analysts predict that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 23rd were paid a $0.6675 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.67 annualized dividend and a dividend yield of 3.90%. Evergy's payout ratio is 70.26%.

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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