Proficio Capital Partners LLC Buys New Shares in Evergy, Inc. (NASDAQ:EVRG)

Proficio Capital Partners LLC purchased a new stake in shares of Evergy, Inc. (NASDAQ:EVRG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 42,100 shares of the company’s stock, valued at approximately $2,591,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in Evergy by 131.4% in the third quarter. FMR LLC now owns 2,004,414 shares of the company’s stock worth $124,294,000 after purchasing an additional 1,138,138 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Evergy by 15,406.4% in the 4th quarter. SG Americas Securities LLC now owns 921,546 shares of the company’s stock valued at $56,721,000 after acquiring an additional 915,603 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Evergy by 42.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,135,011 shares of the company’s stock worth $132,392,000 after acquiring an additional 634,735 shares during the last quarter. Point72 Asset Management L.P. grew its position in Evergy by 25.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,848,735 shares of the company’s stock worth $176,650,000 after acquiring an additional 583,923 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Evergy by 24.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,675,453 shares of the company’s stock worth $103,895,000 after purchasing an additional 330,464 shares during the period. Institutional investors own 87.24% of the company’s stock.

Evergy Stock Down 0.8 %

EVRG opened at $67.10 on Wednesday. The stock has a market capitalization of $15.43 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 2.82 and a beta of 0.62. The firm has a 50 day moving average price of $65.30 and a 200-day moving average price of $62.93. Evergy, Inc. has a twelve month low of $49.55 and a twelve month high of $69.93. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15.

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

Evergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be paid a $0.6675 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.67 annualized dividend and a dividend yield of 3.98%. Evergy’s dividend payout ratio (DPR) is 70.45%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EVRG. Guggenheim raised shares of Evergy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Barclays raised their target price on Evergy from $62.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Finally, LADENBURG THALM/SH SH raised Evergy from a “neutral” rating to a “buy” rating and upped their price target for the company from $59.00 to $68.50 in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.42.

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.