Jennison Associates LLC Boosts Stock Holdings in Evergy Inc. (NASDAQ:EVRG)

Jennison Associates LLC increased its position in Evergy Inc. (NASDAQ:EVRG - Free Report) by 11.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,730,849 shares of the company's stock after acquiring an additional 174,269 shares during the period. Jennison Associates LLC owned about 0.75% of Evergy worth $119,342,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EVRG. Sowell Financial Services LLC purchased a new stake in Evergy during the first quarter valued at $267,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Evergy during the fourth quarter valued at about $1,728,000. Brighton Jones LLC purchased a new stake in Evergy in the fourth quarter worth about $257,000. Farther Finance Advisors LLC lifted its position in shares of Evergy by 124.3% during the 1st quarter. Farther Finance Advisors LLC now owns 6,068 shares of the company's stock valued at $419,000 after buying an additional 3,363 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Evergy by 9.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 36,263 shares of the company's stock valued at $2,500,000 after acquiring an additional 3,014 shares during the period. 87.24% of the stock is owned by institutional investors.

Evergy Trading Up 1.6%

NASDAQ EVRG opened at $68.90 on Friday. The company has a fifty day moving average of $67.35 and a 200 day moving average of $66.49. The company has a market capitalization of $15.85 billion, a PE ratio of 18.13, a P/E/G ratio of 2.96 and a beta of 0.50. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.29. Evergy Inc. has a 1 year low of $54.76 and a 1 year high of $70.36.

Evergy (NASDAQ:EVRG - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.54 earnings per share 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 analysts' expectations of $1.21 billion. Evergy had a net margin of 14.87% and a return on equity of 8.84%. During the same period in the previous year, the firm posted $0.54 EPS. Research analysts forecast that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 23rd were issued a dividend of $0.6675 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.88%. Evergy's payout ratio is currently 70.26%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citigroup lifted 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. LADENBURG THALM/SH SH upgraded shares of Evergy to a "strong-buy" rating in a research report on Thursday, May 8th. Wall Street Zen lowered Evergy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. UBS Group upgraded shares of Evergy from a "neutral" rating to a "buy" rating and upped their price target for the stock from $68.00 to $78.00 in a report on Monday, April 28th. Finally, BMO Capital Markets initiated coverage on shares of Evergy in a research note on Tuesday, May 13th. They set an "outperform" rating and a $75.00 price target for the company. 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 company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.06.

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.

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