ProShare Advisors LLC Increases Position in Evergy, Inc. (NASDAQ:EVRG)

ProShare Advisors LLC lifted its position in Evergy, Inc. (NASDAQ:EVRG - Free Report) by 14.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,844 shares of the company's stock after purchasing an additional 4,294 shares during the period. ProShare Advisors LLC's holdings in Evergy were worth $2,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of EVRG. ExodusPoint Capital Management LP increased its stake in shares of Evergy by 164.8% in the fourth quarter. ExodusPoint Capital Management LP now owns 2,312,953 shares of the company's stock worth $142,362,000 after purchasing an additional 1,439,450 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Evergy by 15,406.4% in the fourth quarter. SG Americas Securities LLC now owns 921,546 shares of the company's stock worth $56,721,000 after purchasing an additional 915,603 shares in the last quarter. Brandes Investment Partners LP purchased a new stake in shares of Evergy in the fourth quarter worth $55,652,000. Groupama Asset Managment increased its stake in shares of Evergy by 3,216.6% in the fourth quarter. Groupama Asset Managment now owns 880,768 shares of the company's stock worth $54,211,000 after purchasing an additional 854,212 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Evergy during the fourth quarter worth $32,488,000. 87.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EVRG has been the subject of a number of research reports. BMO Capital Markets initiated coverage on shares of Evergy in a research report on Tuesday, May 13th. They set an "outperform" rating and a $75.00 target price for the company. LADENBURG THALM/SH SH upgraded shares of Evergy to a "strong-buy" rating in a research report on Thursday, May 8th. Guggenheim upgraded shares of Evergy from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. UBS Group upgraded shares of Evergy from a "neutral" rating to a "buy" rating and upped their target price for the stock from $68.00 to $78.00 in a research report on Monday, April 28th. Finally, Barclays upped their target price on shares of Evergy from $72.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 22nd. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $72.44.

Evergy Price Performance

EVRG stock opened at $67.48 on Wednesday. The company has a fifty day simple moving average of $67.34 and a two-hundred day simple moving average of $65.05. The firm has a market capitalization of $15.53 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 2.82 and a beta of 0.53. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15. Evergy, Inc. has a 52 week low of $52.10 and a 52 week high of $70.36.

Evergy (NASDAQ:EVRG - Get Free Report) last released its earnings results 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 firm 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 8.77% and a net margin of 14.77%. During the same quarter last year, the business posted $0.54 EPS. Analysts anticipate that Evergy, Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 23rd will be issued a $0.6675 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.67 annualized dividend and a dividend yield of 3.96%. Evergy's dividend payout ratio (DPR) is presently 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.

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