IFM Investors Pty Ltd Purchases 984 Shares of Evergy, Inc. (NYSE:EVRG)

IFM Investors Pty Ltd grew its holdings in shares of Evergy, Inc. (NYSE:EVRG) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,095 shares of the company’s stock after buying an additional 984 shares during the period. IFM Investors Pty Ltd’s holdings in Evergy were worth $3,955,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Metis Global Partners LLC boosted its holdings in Evergy by 20.5% in the third quarter. Metis Global Partners LLC now owns 8,326 shares of the company’s stock worth $422,000 after acquiring an additional 1,419 shares in the last quarter. CTC Alternative Strategies Ltd. bought a new position in Evergy in the 4th quarter worth about $1,121,000. RNC Capital Management LLC increased its stake in 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 purchasing an additional 46,437 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Evergy by 47.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,516,817 shares of the company’s stock worth $79,178,000 after buying an additional 487,322 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Evergy by 85.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 41,076 shares of the company’s stock worth $2,144,000 after buying an additional 18,910 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. 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 for the company. Wells Fargo & Company decreased their target price on Evergy from $60.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, March 1st. Bank of America upgraded shares of Evergy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $51.00 to $57.00 in a research note on Wednesday, March 13th. LADENBURG THALM/SH SH began coverage on shares of Evergy in a research report on Thursday, April 4th. They set a “neutral” rating and a $51.00 price objective on the stock. Finally, Guggenheim downgraded shares of Evergy from a “buy” rating to a “neutral” rating and set a $52.00 target price for the company. in a research report on Monday, January 22nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

Evergy Stock Performance

Shares of NYSE:EVRG traded down $0.73 during trading on Friday, hitting $51.69. The company’s stock had a trading volume of 1,191,584 shares, compared to its average volume of 1,734,603. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.51 and a quick ratio of 0.29. The firm has a market cap of $11.88 billion, a price-to-earnings ratio of 16.25, a P/E/G ratio of 2.73 and a beta of 0.57. The company has a 50-day moving average of $51.36 and a 200-day moving average of $50.99. Evergy, Inc. has a 12 month low of $46.92 and a 12 month high of $63.39.

Evergy (NYSE:EVRG) last released 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). Evergy had a return on equity of 8.47% and a net margin of 13.28%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the business posted $0.30 earnings per share. On average, sell-side analysts expect that Evergy, Inc. will post 3.84 earnings per share for the current year.

Evergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were given a $0.6425 dividend. This represents a $2.57 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend was Friday, March 8th. Evergy’s payout ratio is 80.82%.

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.