iA Global Asset Management Inc. Buys New Shares in Evergy Inc. (NASDAQ:EVRG)

Key Points

• iA Global Asset Management Inc. recently acquired 4,685 shares of Evergy Inc. valued at approximately $323,000 during Q1, highlighting growing interest from institutional investors.
• Evergy reported a quarterly EPS of $0.82, exceeding analysts' estimates, but its revenue declined 0.7% year-over-year to $1.43 billion.
• The company announced a quarterly dividend of $0.6675 per share, providing an annualized yield of 3.7%, with a dividend payout ratio of 70.26%.

iA Global Asset Management Inc. acquired a new position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,685 shares of the company's stock, valued at approximately $323,000.

Other large investors have also recently added to or reduced their stakes in the company. Bfsg LLC acquired a new position in shares of Evergy in the 1st quarter valued at $25,000. Colonial Trust Co SC bought a new position in Evergy during the fourth quarter worth $32,000. Alpine Bank Wealth Management bought a new position in Evergy during the 1st quarter worth $32,000. Olde Wealth Management LLC acquired a new position in shares of Evergy in the first quarter valued at approximately $32,000. Finally, LRI Investments LLC bought a new stake in Evergy in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 87.24% of the company's stock.

Wall Street Analysts Forecast Growth

EVRG has been the subject of several research reports. UBS Group upgraded 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 research note on Monday, April 28th. BMO Capital Markets began coverage on Evergy in a research report on Tuesday, May 13th. They set an "outperform" rating and a $75.00 price objective for the company. LADENBURG THALM/SH SH raised Evergy to a "strong-buy" rating in a report on Thursday, May 8th. Barclays cut their target price on Evergy from $73.00 to $71.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Finally, Wall Street Zen lowered Evergy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $74.44.

Evergy Stock Performance

Shares of NASDAQ:EVRG traded down $0.53 during trading hours on Tuesday, hitting $71.89. The stock had a trading volume of 365,005 shares, compared to its average volume of 2,356,459. Evergy Inc. has a 1-year low of $57.82 and a 1-year high of $73.97. 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 $16.54 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 3.17 and a beta of 0.48. The stock's fifty day simple moving average is $68.93 and its 200 day simple moving average is $67.58.

Evergy (NASDAQ:EVRG - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.04. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. Evergy had a net margin of 14.29% and a return on equity of 8.62%. The business's revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 EPS. Sell-side analysts anticipate that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, August 22nd. Evergy's dividend payout ratio (DPR) is currently 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.