Wellington Management Group LLP Increases Stake in Evergy, Inc. (NYSE:EVRG)

Wellington Management Group LLP raised its position in Evergy, Inc. (NYSE:EVRG) by 12.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 249,422 shares of the company’s stock after purchasing an additional 28,392 shares during the period. Wellington Management Group LLP owned 0.11% of Evergy worth $13,020,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atwood & Palmer Inc. lifted its holdings in Evergy by 30.5% in the 4th quarter. Atwood & Palmer Inc. now owns 855 shares of the company’s stock valued at $45,000 after purchasing an additional 200 shares in the last quarter. IFM Investors Pty Ltd increased its stake in shares of Evergy by 0.3% in the 4th quarter. IFM Investors Pty Ltd now owns 73,111 shares of the company’s stock worth $3,816,000 after acquiring an additional 206 shares during the last quarter. Raleigh Capital Management Inc. increased its stake in shares of Evergy by 4.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 5,531 shares of the company’s stock worth $280,000 after acquiring an additional 211 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Evergy by 13.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,821 shares of the company’s stock worth $96,000 after acquiring an additional 216 shares during the last quarter. Finally, Verity Asset Management Inc. increased its stake in shares of Evergy by 5.4% in the 4th quarter. Verity Asset Management Inc. now owns 4,333 shares of the company’s stock worth $226,000 after acquiring an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EVRG. Bank of America raised Evergy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $51.00 to $57.00 in a research note on Wednesday, March 13th. LADENBURG THALM/SH SH began coverage on Evergy in a research note on Thursday, April 4th. They issued a “neutral” rating and a $51.00 target price for the company. Wells Fargo & Company raised their target price on Evergy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Barclays raised their target price on Evergy from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. Finally, Citigroup initiated coverage on Evergy in a research report on Tuesday, March 26th. They set a “buy” rating and a $64.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Evergy currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.83.

Evergy Stock Down 0.1 %

Shares of NYSE:EVRG opened at $52.83 on Thursday. The business has a 50-day moving average price of $53.56 and a 200 day moving average price of $52.14. The company has a current ratio of 0.57, a quick ratio of 0.32 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $12.15 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 2.75 and a beta of 0.60. Evergy, Inc. has a 12-month low of $46.92 and a 12-month high of $61.84.

Evergy (NYSE:EVRG) last released its earnings results on Thursday, May 9th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.07). The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.35 billion. Evergy had a net margin of 12.84% and a return on equity of 8.32%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share. Sell-side analysts expect that Evergy, Inc. will post 3.84 EPS for the current year.

Evergy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Monday, May 20th were given a $0.6425 dividend. This represents a $2.57 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend was Friday, May 17th. Evergy’s dividend payout ratio is currently 83.17%.

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.