Summit Global Investments Buys Shares of 147,202 Evergy, Inc. (NYSE:EVRG)

Summit Global Investments bought a new stake in shares of Evergy, Inc. (NYSE:EVRG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 147,202 shares of the company’s stock, valued at approximately $7,684,000. Summit Global Investments owned 0.06% of Evergy as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. CVA Family Office LLC purchased a new position in Evergy during the 4th quarter valued at about $29,000. Itau Unibanco Holding S.A. bought a new stake in shares of Evergy in the 3rd quarter valued at about $35,000. Hexagon Capital Partners LLC boosted its holdings in shares of Evergy by 222.2% in the 4th quarter. Hexagon Capital Partners LLC now owns 667 shares of the company’s stock valued at $35,000 after buying an additional 460 shares in the last quarter. MV Capital Management Inc. boosted its holdings in shares of Evergy by 3,263.6% in the 4th quarter. MV Capital Management Inc. now owns 740 shares of the company’s stock valued at $39,000 after buying an additional 718 shares in the last quarter. Finally, Headinvest LLC bought a new stake in shares of Evergy in the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Evergy Price Performance

EVRG traded up $0.49 on Thursday, hitting $53.43. 913,856 shares of the company’s stock were exchanged, compared to its average volume of 2,492,285. Evergy, Inc. has a fifty-two week low of $46.92 and a fifty-two week high of $63.39. The company has a current ratio of 0.51, a quick ratio of 0.29 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average price of $51.54 and a 200-day moving average price of $51.07. The stock has a market cap of $12.28 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 2.73 and a beta of 0.57.

Evergy (NYSE:EVRG) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.03). The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.46 billion. Evergy had a net margin of 13.28% and a return on equity of 8.47%. During the same period in the previous year, the firm posted $0.30 EPS. As a group, equities analysts anticipate that Evergy, Inc. will post 3.84 earnings per share for the current year.

Evergy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 11th were given a dividend of $0.6425 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $2.57 annualized dividend and a dividend yield of 4.81%. Evergy’s payout ratio is 80.82%.

Wall Street Analyst Weigh In

EVRG has been the topic of a number of recent analyst reports. Guggenheim cut shares of Evergy from a “buy” rating to a “neutral” rating and set a $52.00 price target on the stock. in a report on Monday, January 22nd. Citigroup assumed coverage on shares of Evergy in a research report on Tuesday, March 26th. They set a “buy” rating and a $64.00 price target for the company. LADENBURG THALM/SH SH assumed coverage on shares of Evergy in a research report on Thursday, April 4th. They set a “neutral” rating and a $51.00 price target for the company. Barclays raised their price target on shares of Evergy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. Finally, Bank of America raised shares of Evergy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $51.00 to $57.00 in a report on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

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.