Sowell Financial Services LLC Buys New Position in Evergy Inc. (NASDAQ:EVRG)

Sowell Financial Services LLC purchased a new position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,872 shares of the company's stock, valued at approximately $267,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LaFleur & Godfrey LLC lifted its position in shares of Evergy by 11.5% during the 4th quarter. LaFleur & Godfrey LLC now owns 16,492 shares of the company's stock worth $1,015,000 after buying an additional 1,700 shares during the last quarter. Brighton Jones LLC purchased a new stake in shares of Evergy during the 4th quarter worth approximately $257,000. Empowered Funds LLC lifted its position in shares of Evergy by 6.5% during the 4th quarter. Empowered Funds LLC now owns 3,890 shares of the company's stock worth $239,000 after buying an additional 238 shares during the last quarter. Sanctuary Advisors LLC lifted its position in shares of Evergy by 5.5% during the 4th quarter. Sanctuary Advisors LLC now owns 25,266 shares of the company's stock worth $1,623,000 after buying an additional 1,324 shares during the last quarter. Finally, Truist Financial Corp lifted its position in shares of Evergy by 3.3% during the 4th quarter. Truist Financial Corp now owns 19,740 shares of the company's stock worth $1,215,000 after buying an additional 634 shares during the last quarter. Institutional investors and hedge funds own 87.24% of the company's stock.

Evergy Price Performance

NASDAQ EVRG traded up $1.28 during mid-day trading on Monday, hitting $68.47. The stock had a trading volume of 2,309,845 shares, compared to its average volume of 2,034,928. The company has a 50 day simple moving average of $67.13 and a 200 day simple moving average of $65.56. The company has a market cap of $15.75 billion, a price-to-earnings ratio of 17.64, a P/E/G ratio of 2.92 and a beta of 0.50. Evergy Inc. has a 52-week low of $52.10 and a 52-week high of $70.36. The company has a quick ratio of 0.29, a current ratio of 0.55 and a debt-to-equity ratio of 1.24.

Evergy (NASDAQ:EVRG - Get Free Report) last posted its earnings results 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). Evergy had a net margin of 14.87% and a return on equity of 8.84%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the company posted $0.54 EPS. Equities analysts forecast that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 23rd were given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend was Friday, May 23rd. Evergy's payout ratio is currently 70.26%.

Wall Street Analyst Weigh In

Several research firms recently commented on EVRG. 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 price target for the company. Citigroup upped their price target on shares of Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Barclays reduced their price target on shares of Evergy from $73.00 to $71.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Jefferies Financial Group set a $78.00 target price on shares of Evergy and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Finally, UBS Group raised shares of Evergy from a "neutral" rating to a "buy" rating and increased their price target for the stock from $68.00 to $78.00 in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $73.19.

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.