TCG Advisory Services LLC Invests $4.60 Million in Evergy, Inc. (NYSE:EVRG)

TCG Advisory Services LLC acquired a new position in Evergy, Inc. (NYSE:EVRG) during the fourth quarter, Holdings Channel.com reports. The firm acquired 88,141 shares of the company’s stock, valued at approximately $4,601,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in EVRG. Manning & Napier Group LLC increased its stake in shares of Evergy by 76.6% in the fourth quarter. Manning & Napier Group LLC now owns 2,183,788 shares of the company’s stock worth $113,994,000 after acquiring an additional 947,196 shares during the period. Federated Hermes Inc. grew its position in Evergy by 41.3% during the fourth quarter. Federated Hermes Inc. now owns 2,942,415 shares of the company’s stock valued at $153,594,000 after buying an additional 860,433 shares during the period. Assenagon Asset Management S.A. grew its position in Evergy by 228.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,029,495 shares of the company’s stock valued at $52,195,000 after buying an additional 715,892 shares during the period. Panagora Asset Management Inc. grew its position in Evergy by 706.1% during the third quarter. Panagora Asset Management Inc. now owns 495,951 shares of the company’s stock valued at $25,145,000 after buying an additional 434,425 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Evergy by 19.9% during the third quarter. Bank of New York Mellon Corp now owns 2,548,598 shares of the company’s stock valued at $129,214,000 after buying an additional 422,152 shares during the period. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Price Performance

EVRG traded up $0.55 during midday trading on Friday, hitting $54.10. 3,072,001 shares of the company traded hands, compared to its average volume of 1,846,729. The business has a 50 day simple moving average of $51.68 and a two-hundred day simple moving average of $51.12. 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 company has a market capitalization of $12.43 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 2.82 and a beta of 0.57. Evergy, Inc. has a 52-week low of $46.92 and a 52-week high of $63.39.

Evergy (NYSE:EVRG) last posted 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 business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Evergy had a return on equity of 8.47% and a net margin of 13.28%. During the same period in the prior year, the business posted $0.30 earnings per share. On average, equities analysts forecast that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 11th were paid a $0.6425 dividend. This represents a $2.57 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend was Friday, March 8th. Evergy’s dividend payout ratio is currently 80.82%.

Analyst Upgrades and Downgrades

Several analysts recently commented on EVRG shares. Wells Fargo & Company dropped their price target on shares of Evergy from $60.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, March 1st. LADENBURG THALM/SH SH started coverage on shares of Evergy in a research report on Thursday, April 4th. They set a “neutral” rating and a $51.00 price target on the stock. Guggenheim lowered shares of Evergy from a “buy” rating to a “neutral” rating and set a $52.00 price target on the stock. in a research report on Monday, January 22nd. Citigroup initiated coverage on shares of Evergy in a report on Tuesday, March 26th. They set a “buy” rating and a $64.00 price objective on the stock. Finally, Bank of America raised shares of Evergy from a “neutral” rating to a “buy” rating and increased their price objective 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 issued a buy rating to the company’s stock. According to data from MarketBeat, Evergy currently has an average rating of “Moderate Buy” and an average 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.