Kayne Anderson Capital Advisors LP Purchases New Holdings in Evergy Inc. (NASDAQ:EVRG)

Kayne Anderson Capital Advisors LP bought a new stake in Evergy Inc. (NASDAQ:EVRG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 75,876 shares of the company's stock, valued at approximately $5,232,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EVRG. Stolper Co lifted its holdings in shares of Evergy by 0.5% in the first quarter. Stolper Co now owns 34,630 shares of the company's stock valued at $2,388,000 after purchasing an additional 169 shares in the last quarter. KCM Investment Advisors LLC lifted its holdings in shares of Evergy by 3.7% in the fourth quarter. KCM Investment Advisors LLC now owns 5,946 shares of the company's stock valued at $366,000 after purchasing an additional 210 shares in the last quarter. Retirement Planning Group LLC lifted its holdings in shares of Evergy by 0.9% in the fourth quarter. Retirement Planning Group LLC now owns 24,372 shares of the company's stock valued at $1,500,000 after purchasing an additional 210 shares in the last quarter. MainStreet Investment Advisors LLC lifted its holdings in shares of Evergy by 4.7% in the fourth quarter. MainStreet Investment Advisors LLC now owns 4,877 shares of the company's stock valued at $300,000 after purchasing an additional 221 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Evergy by 2.5% in the first quarter. Parallel Advisors LLC now owns 9,338 shares of the company's stock valued at $644,000 after purchasing an additional 227 shares in the last quarter. Hedge funds and other institutional investors own 87.24% of the company's stock.

Evergy Price Performance

Shares of EVRG stock traded up $0.37 during midday trading on Thursday, reaching $69.92. 749,332 shares of the company were exchanged, compared to its average volume of 2,330,237. Evergy Inc. has a 12 month low of $55.88 and a 12 month high of $70.36. The company has a market cap of $16.09 billion, a P/E ratio of 18.41, a PEG ratio of 3.04 and a beta of 0.50. The company's 50 day moving average price is $67.63 and its two-hundred day moving average price is $66.65. 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 (NASDAQ:EVRG - Get Free Report) last released its quarterly 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). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.21 billion. Evergy had a return on equity of 8.84% and a net margin of 14.87%. During the same quarter last year, the firm posted $0.54 earnings per share. On average, sell-side analysts expect that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

The firm 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 3.82%. Evergy's dividend payout ratio is currently 70.26%.

Analysts Set New Price Targets

EVRG has been the topic of a number of recent analyst reports. Mizuho increased their price target on shares of Evergy from $70.00 to $74.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Jefferies Financial Group set a $78.00 price target on shares of Evergy and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Barclays cut their price target on shares of Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. LADENBURG THALM/SH SH raised shares of Evergy to a "strong-buy" rating in a research note on Thursday, May 8th. Finally, BMO Capital Markets started coverage on shares of Evergy in a research report on Tuesday, May 13th. They issued an "outperform" rating and a $75.00 price objective for the company. One investment 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $74.06.

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.