New Age Alpha Advisors LLC Purchases 46,490 Shares of Evergy Inc. (NASDAQ:EVRG)

Key Points

• New Age Alpha Advisors LLC increased its stake in Evergy Inc. by 75.4%, acquiring an additional 46,490 shares during the first quarter, bringing its total holdings to 108,131 shares worth $7.46 million.
• Evergy reported $0.54 earnings per share for the quarter, missing the consensus estimate by 12 cents, while the company's revenue reached $1.37 billion, surpassing expectations.
• Equities analysts have varying opinions on Evergy, with one upgrade to a "strong-buy" rating and a consensus target price of $74.06, indicating a Moderate Buy rating overall.

New Age Alpha Advisors LLC boosted its position in Evergy Inc. (NASDAQ:EVRG - Free Report) by 75.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 108,131 shares of the company's stock after acquiring an additional 46,490 shares during the period. New Age Alpha Advisors LLC's holdings in Evergy were worth $7,456,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Clearstead Trust LLC bought a new stake in Evergy in the 1st quarter valued at about $32,000. Pathway Financial Advisers LLC raised its stake in Evergy by 1.7% in the 1st quarter. Pathway Financial Advisers LLC now owns 43,590 shares of the company's stock valued at $3,006,000 after acquiring an additional 722 shares during the period. PNC Financial Services Group Inc. raised its stake in Evergy by 2.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 66,353 shares of the company's stock valued at $4,575,000 after acquiring an additional 1,610 shares during the period. Jupiter Asset Management Ltd. bought a new stake in Evergy in the 1st quarter valued at about $15,044,000. Finally, Clearwater Capital Advisors LLC bought a new stake in Evergy in the 1st quarter valued at about $212,000. 87.24% of the stock is currently owned by institutional investors.

Evergy Stock Up 2.2%

EVRG stock opened at $73.12 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.29 and a debt-to-equity ratio of 1.24. The company's 50 day moving average is $68.28 and its 200 day moving average is $67.24. The stock has a market cap of $16.82 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 3.13 and a beta of 0.48. Evergy Inc. has a 1-year low of $57.28 and a 1-year high of $73.29.

Evergy (NASDAQ:EVRG - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.54 earnings per share 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 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 company posted $0.54 earnings per share. Sell-side analysts predict that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on EVRG shares. LADENBURG THALM/SH SH upgraded Evergy to a "strong-buy" rating in a research note on Thursday, May 8th. Jefferies Financial Group set a $78.00 price target on Evergy and gave the company a "buy" rating in a research report on Tuesday, June 10th. Barclays decreased their price target on Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. 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. Finally, Wall Street Zen cut Evergy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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