WESPAC Advisors LLC Invests $981,000 in Evergy Inc. (NASDAQ:EVRG)

WESPAC Advisors LLC bought a new position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 14,221 shares of the company's stock, valued at approximately $981,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EVRG. Bfsg LLC bought a new stake in Evergy in the 1st quarter valued at approximately $25,000. Lee Danner & Bass Inc. bought a new stake in Evergy in the 4th quarter valued at $26,000. Colonial Trust Co SC acquired a new position in Evergy in the 4th quarter valued at $32,000. Alpine Bank Wealth Management acquired a new position in Evergy in the 1st quarter valued at $32,000. Finally, Olde Wealth Management LLC acquired a new position in Evergy in the 1st quarter valued at $32,000. Institutional investors own 87.24% of the company's stock.

Evergy Stock Down 0.7%

EVRG stock traded down $0.46 on Friday, hitting $68.96. 3,393,013 shares of the company's stock were exchanged, compared to its average volume of 2,082,294. The firm has a 50 day moving average price of $67.36 and a two-hundred day moving average price of $66.26. Evergy Inc. has a 12-month low of $54.09 and a 12-month high of $70.36. 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 market cap of $15.87 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 3.02 and a beta of 0.50.

Evergy (NASDAQ:EVRG - Get Free Report) last posted its quarterly 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 company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.21 billion. Evergy had a net margin of 14.87% and a return on equity of 8.84%. During the same quarter last year, the company earned $0.54 earnings per share. As a group, equities research analysts expect that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 23rd were given a $0.6675 dividend. The ex-dividend date was Friday, May 23rd. This represents a $2.67 dividend on an annualized basis and a yield of 3.87%. Evergy's payout ratio is currently 70.26%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. LADENBURG THALM/SH SH raised Evergy to a "strong-buy" rating in a report on Thursday, May 8th. Jefferies Financial Group set a $78.00 price target on Evergy and gave the company a "buy" rating in a research note on Tuesday, June 10th. Barclays decreased their target price on Evergy from $73.00 to $71.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. BMO Capital Markets started coverage on Evergy in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $75.00 price objective for the company. Finally, Wall Street Zen cut Evergy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Evergy presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.19.

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.