Sumitomo Mitsui DS Asset Management Company Ltd Raises Stake in Evergy, Inc. (NYSE:EVRG)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Evergy, Inc. (NYSE:EVRG) by 85.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,076 shares of the company’s stock after acquiring an additional 18,910 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Evergy were worth $2,144,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in EVRG. CVA Family Office LLC acquired a new stake in Evergy during the fourth quarter worth approximately $29,000. Itau Unibanco Holding S.A. acquired a new stake in Evergy during the third quarter worth approximately $35,000. MV Capital Management Inc. raised its holdings in Evergy by 3,263.6% during the fourth quarter. MV Capital Management Inc. now owns 740 shares of the company’s stock worth $39,000 after purchasing an additional 718 shares in the last quarter. Headinvest LLC acquired a new stake in Evergy during the third quarter worth approximately $40,000. Finally, Asset Dedication LLC acquired a new stake in Evergy during the third quarter worth approximately $45,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EVRG. Wells Fargo & Company cut their target price on shares of Evergy from $60.00 to $57.00 and set an “overweight” rating on the stock in a report on Friday, March 1st. Guggenheim cut shares of Evergy from a “buy” rating to a “neutral” rating and set a $52.00 target price on the stock. in a report on Monday, January 22nd. 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. LADENBURG THALM/SH SH began coverage on shares of Evergy in a report on Thursday, April 4th. They issued a “neutral” rating and a $51.00 target price on the stock. Finally, Citigroup began coverage on shares of Evergy in a report on Tuesday, March 26th. They issued a “buy” rating and a $64.00 target price on the stock. 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.00.

Evergy Stock Performance

Shares of EVRG opened at $52.48 on Thursday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.29 and a current ratio of 0.51. The stock has a market capitalization of $12.06 billion, a P/E ratio of 14.72, a P/E/G ratio of 2.72 and a beta of 0.57. The company’s fifty day moving average is $51.25 and its two-hundred day moving average is $50.97. Evergy, Inc. has a 1 year low of $46.92 and a 1 year high of $63.84.

Evergy (NYSE:EVRG) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.03). The firm had revenue of $1.19 billion during 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 prior year, the firm posted $0.30 earnings per share. On average, sell-side analysts predict that Evergy, Inc. will post 3.84 earnings per share for the current year.

Evergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders 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 4.90%. Evergy’s payout ratio is currently 80.82%.

Evergy 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.