Vennlight Capital Management LP Invests $10.36 Million in Evergy, Inc. (NASDAQ:EVRG)

Vennlight Capital Management LP acquired a new position in shares of Evergy, Inc. (NASDAQ:EVRG) in the 4th quarter, Holdings Channel.com reports. The fund acquired 168,364 shares of the company’s stock, valued at approximately $10,363,000. Evergy accounts for about 9.8% of Vennlight Capital Management LP’s holdings, making the stock its 4th biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lee Danner & Bass Inc. purchased a new position in Evergy during the fourth quarter worth $26,000. National Pension Service purchased a new stake in shares of Evergy in the fourth quarter valued at $30,000. Bank of Jackson Hole Trust acquired a new stake in shares of Evergy during the fourth quarter valued at $31,000. Colonial Trust Co SC acquired a new stake in shares of Evergy during the fourth quarter valued at $32,000. Finally, Sandy Spring Bank increased its position in Evergy by 5,983.3% during the 4th quarter. Sandy Spring Bank now owns 730 shares of the company’s stock worth $45,000 after purchasing an additional 718 shares in the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Evergy Price Performance

Evergy stock opened at $66.93 on Monday. Evergy, Inc. has a 1 year low of $52.10 and a 1 year high of $70.36. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. The firm has a 50 day moving average price of $67.31 and a 200 day moving average price of $64.98. The company has a market cap of $15.40 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 2.82 and a beta of 0.53.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.12). Evergy had a net margin of 14.77% and a return on equity of 8.77%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the business earned $0.54 EPS. Sell-side analysts predict that Evergy, Inc. will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 23rd will be issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Friday, May 23rd. Evergy’s payout ratio is currently 70.26%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. LADENBURG THALM/SH SH upgraded shares of Evergy to a “strong-buy” rating in a report on Thursday, May 8th. BMO Capital Markets began coverage on shares of Evergy in a research report on Tuesday, May 13th. They issued an “outperform” rating and a $75.00 price objective for the company. Citigroup upped their price objective on shares of Evergy from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Friday. Barclays lifted their target price on shares of Evergy from $72.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 22nd. Finally, UBS Group raised Evergy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $68.00 to $78.00 in a research note on Monday, April 28th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $72.44.

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.