Tidal Investments LLC Takes Position in Evergy, Inc. (NASDAQ:EVRG)

Tidal Investments LLC purchased a new stake in Evergy, Inc. (NASDAQ:EVRG - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 15,764 shares of the company's stock, valued at approximately $970,000.

Several other hedge funds have also recently bought and sold shares of EVRG. State of Wyoming acquired a new stake in shares of Evergy during the 4th quarter valued at approximately $192,000. Sagefield Capital LP grew its stake in shares of Evergy by 27.4% in the 4th quarter. Sagefield Capital LP now owns 101,024 shares of the company's stock valued at $6,218,000 after buying an additional 21,734 shares in the last quarter. Royal Bank of Canada lifted its holdings in Evergy by 104.6% in the 4th quarter. Royal Bank of Canada now owns 476,323 shares of the company's stock worth $29,318,000 after purchasing an additional 243,544 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Evergy in the fourth quarter valued at approximately $123,000. Finally, ProShare Advisors LLC raised its stake in shares of Evergy by 14.1% in the fourth quarter. ProShare Advisors LLC now owns 34,844 shares of the company's stock valued at $2,145,000 after purchasing an additional 4,294 shares in the last quarter. Hedge funds and other institutional investors own 87.24% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on EVRG shares. LADENBURG THALM/SH SH upgraded Evergy to a "strong-buy" rating in a research report on Thursday, May 8th. Citigroup lifted their target price on Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Barclays raised their target price on shares of Evergy from $72.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, April 22nd. Wall Street Zen lowered Evergy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, BMO Capital Markets started coverage on shares of Evergy in a research note on Tuesday, May 13th. They set an "outperform" rating and a $75.00 target price for the company. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Evergy currently has an average rating of "Moderate Buy" and an average target price of $72.44.

Evergy Price Performance

Shares of NASDAQ:EVRG traded down $0.21 during midday trading on Friday, hitting $66.02. The stock had a trading volume of 466,609 shares, compared to its average volume of 1,974,284. The company's 50-day moving average price is $67.12 and its 200-day moving average price is $65.24. The company has a market capitalization of $15.19 billion, a P/E ratio of 17.86, 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 fifty-two week low of $52.10 and a fifty-two 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 analysts' consensus estimates of $0.66 by ($0.12). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.21 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. During the same quarter in the prior year, the firm earned $0.54 EPS. As a group, equities research analysts predict that Evergy, Inc. will post 3.83 EPS for the current fiscal year.

Evergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 23rd will be given a $0.6675 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.67 annualized dividend and a yield of 4.04%. Evergy's dividend payout ratio is presently 70.26%.

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.