RNC Capital Management LLC Boosts Holdings in Evergy, Inc. (NYSE:EVRG)

RNC Capital Management LLC lifted its stake in shares of Evergy, Inc. (NYSE:EVRG) by 8.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 586,133 shares of the company’s stock after acquiring an additional 46,437 shares during the quarter. Evergy makes up approximately 1.8% of RNC Capital Management LLC’s holdings, making the stock its 27th biggest position. RNC Capital Management LLC’s holdings in Evergy were worth $30,596,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in EVRG. Assenagon Asset Management S.A. boosted its stake in Evergy by 47.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,516,817 shares of the company’s stock worth $79,178,000 after purchasing an additional 487,322 shares during the period. Kingswood Wealth Advisors LLC bought a new position in Evergy in the 4th quarter worth approximately $223,000. D.B. Root & Company LLC boosted its stake in Evergy by 36.5% in the 4th quarter. D.B. Root & Company LLC now owns 7,921 shares of the company’s stock worth $413,000 after purchasing an additional 2,120 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Evergy by 30.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 78,852 shares of the company’s stock worth $4,116,000 after purchasing an additional 18,555 shares during the period. Finally, CVA Family Office LLC bought a new position in Evergy in the 4th quarter worth approximately $29,000. 87.24% of the stock is currently owned by institutional investors.

Evergy Stock Performance

EVRG stock opened at $53.05 on Thursday. The company has a quick ratio of 0.29, a current ratio of 0.51 and a debt-to-equity ratio of 1.14. The business’s fifty day simple moving average is $50.50 and its two-hundred day simple moving average is $50.96. Evergy, Inc. has a twelve month low of $46.92 and a twelve month high of $63.93. The firm has a market cap of $12.19 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 2.36 and a beta of 0.56.

Evergy (NYSE:EVRG) last released its earnings results on Thursday, February 29th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the business earned $0.30 EPS. Analysts predict that Evergy, Inc. will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were paid a $0.6425 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $2.57 dividend on an annualized basis and a yield of 4.84%. Evergy’s payout ratio is 80.82%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on EVRG shares. Citigroup started coverage on Evergy in a report on Tuesday. They set a “buy” rating and a $64.00 price objective on the stock. Wells Fargo & Company decreased their price objective on Evergy from $60.00 to $57.00 and set an “overweight” rating on the stock in a report on Friday, March 1st. Guggenheim cut Evergy from a “buy” rating to a “neutral” rating and set a $52.00 price objective on the stock. in a report on Monday, January 22nd. Bank of America raised Evergy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $51.00 to $57.00 in a report on Wednesday, March 13th. Finally, Barclays upped their price objective on Evergy from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.00.

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.