Evergy Inc. (NASDAQ:EVRG) Shares Purchased by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management increased its position in Evergy Inc. by 147.1%, owning 144,426 shares valued at approximately $9.96 million as per its recent SEC filing.
• Evergy Inc. reported earnings per share (EPS) of $0.54 for the last quarter, missing analysts' expectations by $0.12, despite revenue of $1.37 billion surpassing estimates.
• The company recently declared a quarterly dividend of $0.6675 per share, representing an annualized yield of 3.91% and a payout ratio of 70.26%.

Picton Mahoney Asset Management raised its position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 147.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 144,426 shares of the company's stock after buying an additional 85,971 shares during the period. Picton Mahoney Asset Management owned about 0.06% of Evergy worth $9,958,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Bfsg LLC bought a new position in Evergy in the first quarter valued at approximately $25,000. Colonial Trust Co SC acquired a new stake in Evergy in the 4th quarter valued at $32,000. Alpine Bank Wealth Management acquired a new position in shares of Evergy during the 1st quarter worth about $32,000. Olde Wealth Management LLC acquired a new position in Evergy in the 1st quarter valued at about $32,000. Finally, LRI Investments LLC acquired a new position in shares of Evergy during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 87.24% of the company's stock.

Wall Street Analyst Weigh In

EVRG has been the subject of several research reports. UBS Group raised shares of Evergy from a "neutral" rating to a "buy" rating and increased their price objective for the company from $68.00 to $78.00 in a research note on Monday, April 28th. Barclays lowered their price objective on shares of Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Wall Street Zen cut shares of Evergy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Citigroup raised their target price on shares of Evergy from $77.00 to $79.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, BMO Capital Markets assumed coverage on shares of Evergy in a research note on Tuesday, May 13th. They set an "outperform" rating and a $75.00 price objective for the company. One equities research 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $74.06.

Evergy Trading Up 0.5%

NASDAQ EVRG traded up $0.34 on Friday, hitting $71.14. 1,050,063 shares of the stock were exchanged, compared to its average volume of 2,317,033. 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 fifty day moving average price of $68.01 and a two-hundred day moving average price of $67.04. The firm has a market capitalization of $16.37 billion, a P/E ratio of 18.75, a P/E/G ratio of 3.07 and a beta of 0.50. Evergy Inc. has a 52-week low of $57.28 and a 52-week high of $71.63.

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 business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.21 billion. Evergy had a return on equity of 8.84% and a net margin of 14.87%. During the same period last year, the company earned $0.54 earnings per share. Research analysts forecast that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Announces Dividend

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 was Friday, May 23rd. This represents a $2.67 annualized dividend and a dividend yield of 3.8%. Evergy's dividend payout ratio is 70.26%.

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.