GF Fund Management CO. LTD. Raises Holdings in Evergy Inc. (NASDAQ:EVRG)

GF Fund Management CO. LTD. increased its stake in Evergy Inc. (NASDAQ:EVRG - Free Report) by 4,290.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,640 shares of the company's stock after acquiring an additional 7,466 shares during the period. GF Fund Management CO. LTD.'s holdings in Evergy were worth $527,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of EVRG. Bfsg LLC bought a new stake in shares of Evergy in the 1st quarter valued at about $25,000. Lee Danner & Bass Inc. bought a new position in Evergy during the 4th quarter valued at approximately $26,000. Colonial Trust Co SC bought a new position in Evergy during the 4th quarter valued at approximately $32,000. Alpine Bank Wealth Management bought a new position in Evergy during the 1st quarter valued at approximately $32,000. Finally, Sandy Spring Bank raised its position in Evergy by 5,983.3% during the 4th quarter. Sandy Spring Bank now owns 730 shares of the company's stock valued at $45,000 after purchasing an additional 718 shares during the last quarter. Institutional investors own 87.24% of the company's stock.

Analysts Set New Price Targets

EVRG has been the subject of a number of recent analyst reports. Citigroup upped their price target on Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a research report on Friday, May 16th. BMO Capital Markets initiated coverage on Evergy in a research report on Tuesday, May 13th. They set an "outperform" rating and a $75.00 price target for the company. Jefferies Financial Group set a $78.00 target price on Evergy and gave the stock a "buy" rating in a report on Tuesday, June 10th. Barclays reduced their target price on Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. Finally, Wall Street Zen downgraded Evergy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $73.19.

Evergy Stock Performance

Shares of NASDAQ EVRG traded up $1.17 during midday trading on Friday, hitting $70.15. 1,782,353 shares of the stock traded hands, compared to its average volume of 2,065,908. The firm has a 50-day moving average of $67.35 and a two-hundred day moving average of $66.07. The firm has a market capitalization of $16.14 billion, a P/E ratio of 18.46, a PEG ratio of 3.05 and a beta of 0.50. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.29 and a current ratio of 0.55. Evergy Inc. has a one year low of $52.58 and a one year high of $70.36.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its 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). Evergy had a return on equity of 8.84% and a net margin of 14.87%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the business posted $0.54 earnings per share. On average, equities analysts forecast that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 23rd were paid a $0.6675 dividend. The ex-dividend date was Friday, May 23rd. This represents a $2.67 dividend on an annualized basis and a yield of 3.81%. Evergy's payout ratio is presently 70.26%.

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.