Resona Asset Management Co. Ltd. Purchases 6,099 Shares of Evergy Inc. (NASDAQ:EVRG)

Key Points

• Resona Asset Management Co. Ltd. has increased its stake in Evergy Inc. by 8.2%, owning a total of 80,252 shares valued at approximately $5.52 million following the purchase of an additional 6,099 shares.
• Evergy recently reported $0.82 earnings per share, exceeding expectations, while its quarterly revenues fell by 0.7% compared to the previous year.
• The company announced a quarterly dividend of $0.6675 per share, which will be paid on September 19th, reflecting a 3.7% dividend yield.

Resona Asset Management Co. Ltd. increased its position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,252 shares of the company's stock after purchasing an additional 6,099 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Evergy were worth $5,521,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Nuveen LLC bought a new stake in Evergy during the first quarter worth about $212,132,000. Northern Trust Corp lifted its position in Evergy by 5.7% during the fourth quarter. Northern Trust Corp now owns 2,345,119 shares of the company's stock worth $144,342,000 after purchasing an additional 125,898 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Evergy by 0.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,174,047 shares of the company's stock worth $149,901,000 after purchasing an additional 13,555 shares during the period. Jennison Associates LLC raised its stake in Evergy by 11.2% during the first quarter. Jennison Associates LLC now owns 1,730,849 shares of the company's stock worth $119,342,000 after acquiring an additional 174,269 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in Evergy by 12.8% during the fourth quarter. Two Sigma Advisers LP now owns 1,417,100 shares of the company's stock worth $87,223,000 after acquiring an additional 161,000 shares in the last quarter. Institutional investors own 87.24% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on EVRG shares. Jefferies Financial Group set a $78.00 target price on Evergy and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Wall Street Zen downgraded Evergy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Mizuho boosted their target price on Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. UBS Group raised Evergy from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $68.00 to $78.00 in a research note on Monday, April 28th. Finally, LADENBURG THALM/SH SH raised Evergy to a "strong-buy" rating in a research note on Thursday, May 8th. One research 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 MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $74.44.

Evergy Stock Performance

NASDAQ:EVRG opened at $71.95 on Friday. The stock has a market cap of $16.56 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 3.18 and a beta of 0.48. The company has a current ratio of 0.50, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. The stock's 50-day moving average is $69.52 and its 200-day moving average is $67.77. Evergy Inc. has a 1-year low of $57.82 and a 1-year high of $73.97.

Evergy (NASDAQ:EVRG - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.04. The company had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.45 billion. Evergy had a return on equity of 8.62% and a net margin of 14.29%. The business's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 earnings per share. Equities research analysts anticipate that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, August 22nd. Evergy's payout ratio is 73.35%.

Evergy Company 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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