Evergy, Inc. (NYSE:EVRG) Stake Increased by Brookstone Capital Management

Brookstone Capital Management raised its stake in shares of Evergy, Inc. (NYSE:EVRG) by 18.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,945 shares of the company’s stock after acquiring an additional 3,699 shares during the quarter. Brookstone Capital Management’s holdings in Evergy were worth $1,278,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. CTC Alternative Strategies Ltd. bought a new position in shares of Evergy during the fourth quarter worth about $1,121,000. OLD Republic International Corp increased its holdings in shares of Evergy by 31.7% in the 4th quarter. OLD Republic International Corp now owns 830,246 shares of the company’s stock valued at $43,339,000 after acquiring an additional 200,000 shares during the last quarter. RNC Capital Management LLC raised its position in shares of Evergy by 8.6% during the 4th quarter. RNC Capital Management LLC now owns 586,133 shares of the company’s stock valued at $30,596,000 after acquiring an additional 46,437 shares in the last quarter. APG Asset Management US Inc. bought a new position in Evergy during the fourth quarter worth $2,057,000. Finally, Vanguard Group Inc. increased its stake in Evergy by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 30,757,415 shares of the company’s stock valued at $1,605,537,000 after purchasing an additional 1,399,199 shares during the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

Evergy Stock Performance

Shares of EVRG opened at $52.97 on Friday. The firm has a market capitalization of $12.18 billion, a PE ratio of 17.14, a P/E/G ratio of 2.75 and a beta of 0.60. The company has a quick ratio of 0.32, a current ratio of 0.57 and a debt-to-equity ratio of 1.21. The firm has a 50-day moving average price of $53.63 and a 200 day moving average price of $52.15. Evergy, Inc. has a 52-week low of $46.92 and a 52-week high of $61.84.

Evergy (NYSE:EVRG) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.07). The company had revenue of $1.33 billion for 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%. Evergy’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 EPS. On average, sell-side analysts anticipate that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Monday, May 20th were issued a $0.6425 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $2.57 annualized dividend and a dividend yield of 4.85%. Evergy’s dividend payout ratio (DPR) is 83.17%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Barclays lifted their price target on shares of Evergy from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. Wells Fargo & Company increased their price target on Evergy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. Bank of America upgraded Evergy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $51.00 to $57.00 in a research report on Wednesday, March 13th. LADENBURG THALM/SH SH assumed coverage on Evergy in a research report on Thursday, April 4th. They issued a “neutral” rating and a $51.00 target price on the stock. Finally, Citigroup initiated coverage on shares of Evergy in a report on Tuesday, March 26th. They issued a “buy” rating and a $64.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Evergy presently has a consensus rating of “Moderate Buy” and an average target price of $57.83.

About Evergy

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.