Y Intercept Hong Kong Ltd Purchases New Shares in Evergy Inc. (NASDAQ:EVRG)

Key Points

• Y Intercept Hong Kong Ltd acquired 7,281 shares of Evergy Inc. (NASDAQ:EVRG) in Q1, representing a new position valued at approximately $502,000.
• Evergy's quarterly earnings report showed an EPS of $0.54, which missed the consensus estimate of $0.66, despite revenue exceeding expectations at $1.37 billion.
• The firm declared a quarterly dividend of $0.6675 with a yield of 3.83%, while maintaining a dividend payout ratio of 70.26%.

Y Intercept Hong Kong Ltd acquired a new stake in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 7,281 shares of the company's stock, valued at approximately $502,000.

A number of other large investors have also recently made changes to their positions in the stock. Brighton Jones LLC purchased a new position in shares of Evergy during the fourth quarter valued at $257,000. Korea Investment CORP raised its stake in Evergy by 24.5% in the 4th quarter. Korea Investment CORP now owns 241,657 shares of the company's stock valued at $14,874,000 after purchasing an additional 47,500 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Evergy by 7.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 360,846 shares of the company's stock valued at $22,210,000 after purchasing an additional 25,127 shares during the last quarter. UniSuper Management Pty Ltd grew its holdings in Evergy by 17.4% in the 4th quarter. UniSuper Management Pty Ltd now owns 34,275 shares of the company's stock valued at $2,110,000 after buying an additional 5,092 shares in the last quarter. Finally, NEOS Investment Management LLC grew its holdings in Evergy by 28.5% in the 4th quarter. NEOS Investment Management LLC now owns 11,183 shares of the company's stock valued at $688,000 after buying an additional 2,483 shares in the last quarter. 87.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on EVRG shares. Mizuho raised their price objective on Evergy from $70.00 to $74.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Wall Street Zen lowered Evergy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. UBS Group raised Evergy from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $68.00 to $78.00 in a research report on Monday, April 28th. Citigroup boosted their target price on Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a report on Friday, May 16th. Finally, Jefferies Financial Group set a $78.00 price objective on Evergy and gave the company a "buy" rating in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Evergy has a consensus rating of "Moderate Buy" and a consensus price target of $74.06.

Evergy Stock Performance

NASDAQ:EVRG traded up $0.17 during midday trading on Thursday, reaching $70.33. 329,627 shares of the company traded hands, compared to its average volume of 2,311,032. The company has a fifty day moving average price of $67.92 and a 200 day moving average price of $66.97. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.29. The firm has a market capitalization of $16.18 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 3.05 and a beta of 0.50. Evergy Inc. has a twelve month low of $57.25 and a twelve month high of $70.75.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.54 EPS 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 company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same period in the prior year, the company earned $0.54 earnings per share. On average, analysts expect that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 23rd were paid a dividend of $0.6675 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.67 annualized dividend and a dividend yield of 3.80%. Evergy's dividend payout ratio (DPR) 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.