Envestnet Asset Management Inc. Grows Position in Evergy, Inc. (NASDAQ:EVRG)

Envestnet Asset Management Inc. grew its stake in Evergy, Inc. (NASDAQ:EVRG) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 331,086 shares of the company’s stock after acquiring an additional 9,514 shares during the quarter. Envestnet Asset Management Inc. owned about 0.14% of Evergy worth $20,378,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. MML Investors Services LLC lifted its holdings in Evergy by 22.1% in the 3rd quarter. MML Investors Services LLC now owns 5,168 shares of the company’s stock valued at $320,000 after purchasing an additional 935 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Evergy by 0.8% during the third quarter. M&T Bank Corp now owns 170,300 shares of the company’s stock valued at $10,560,000 after buying an additional 1,272 shares during the period. Virtu Financial LLC purchased a new position in shares of Evergy during the third quarter valued at approximately $692,000. Sanctuary Advisors LLC boosted its position in Evergy by 45.4% during the third quarter. Sanctuary Advisors LLC now owns 23,942 shares of the company’s stock worth $1,539,000 after acquiring an additional 7,472 shares during the last quarter. Finally, World Investment Advisors LLC grew its stake in Evergy by 3.9% in the 3rd quarter. World Investment Advisors LLC now owns 5,715 shares of the company’s stock worth $354,000 after acquiring an additional 212 shares during the period. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Evergy Stock Performance

Shares of NASDAQ:EVRG opened at $67.59 on Tuesday. The business has a 50-day moving average of $66.99 and a two-hundred day moving average of $63.79. The firm has a market capitalization of $15.55 billion, a PE ratio of 18.27, a P/E/G ratio of 2.82 and a beta of 0.52. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32. Evergy, Inc. has a 12 month low of $49.55 and a 12 month high of $70.30.

Evergy (NASDAQ:EVRG) last posted its earnings results on Thursday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.11). The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. As a group, research analysts forecast that Evergy, Inc. will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Monday, March 10th. Evergy’s dividend payout ratio is presently 70.45%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EVRG. LADENBURG THALM/SH SH raised Evergy to a “strong-buy” rating in a research note on Monday, March 17th. Guggenheim upgraded Evergy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. UBS Group lifted their price target on Evergy from $66.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Finally, Barclays upped their price objective on shares of Evergy from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $69.08.

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.