Kentucky Retirement Systems Insurance Trust Fund Invests $446,000 in Evergy Inc. (NASDAQ:EVRG)

Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Evergy Inc. (NASDAQ:EVRG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,475 shares of the company's stock, valued at approximately $446,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stolper Co lifted its holdings in shares of Evergy by 0.5% in the 1st quarter. Stolper Co now owns 34,630 shares of the company's stock worth $2,388,000 after purchasing an additional 169 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in Evergy by 5.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,873 shares of the company's stock worth $238,000 after buying an additional 190 shares during the period. KCM Investment Advisors LLC lifted its holdings in shares of Evergy by 3.7% during the 4th quarter. KCM Investment Advisors LLC now owns 5,946 shares of the company's stock worth $366,000 after acquiring an additional 210 shares during the period. Retirement Planning Group LLC grew its position in Evergy by 0.9% during the 4th quarter. Retirement Planning Group LLC now owns 24,372 shares of the company's stock worth $1,500,000 after acquiring an additional 210 shares during the last quarter. Finally, MainStreet Investment Advisors LLC boosted its holdings in 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 acquiring an additional 221 shares during the last quarter. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Stock Performance

NASDAQ:EVRG opened at $68.19 on Thursday. Evergy Inc. has a fifty-two week low of $52.10 and a fifty-two week high of $70.36. The company has a fifty day moving average of $67.19 and a two-hundred day moving average of $65.64. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.29 and a current ratio of 0.55. The stock has a market capitalization of $15.69 billion, a PE ratio of 17.94, a P/E/G ratio of 2.99 and a beta of 0.49.

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

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.6675 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.67 annualized dividend and a dividend yield of 3.92%. Evergy's payout ratio is currently 70.26%.

Analyst Ratings Changes

Several research analysts have recently weighed in on EVRG shares. UBS Group raised Evergy from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $68.00 to $78.00 in a research report on Monday, April 28th. BMO Capital Markets began coverage on shares of Evergy in a research report on Tuesday, May 13th. They issued an "outperform" rating and a $75.00 target price on the stock. Citigroup increased their price target on Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Jefferies Financial Group set a $78.00 price objective on shares of Evergy and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, Wall Street Zen cut shares of Evergy from a "hold" rating to a "sell" rating in a research report 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $73.19.

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.

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