Sagefield Capital LP Raises Stock Position in Evergy, Inc. (NASDAQ:EVRG)

Sagefield Capital LP boosted its stake in shares of Evergy, Inc. (NASDAQ:EVRG) by 27.4% during the 4th quarter, Holdings Channel reports. The firm owned 101,024 shares of the company’s stock after acquiring an additional 21,734 shares during the quarter. Sagefield Capital LP’s holdings in Evergy were worth $6,218,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Lee Danner & Bass Inc. acquired a new stake in shares of Evergy in the fourth quarter valued at about $26,000. National Pension Service acquired a new stake in shares of Evergy in the fourth quarter valued at about $30,000. Bank of Jackson Hole Trust acquired a new stake in shares of Evergy in the fourth quarter valued at about $31,000. Colonial Trust Co SC acquired a new stake in shares of Evergy in the fourth quarter valued at about $32,000. Finally, Sandy Spring Bank raised its position in shares of Evergy by 5,983.3% in the fourth quarter. Sandy Spring Bank now owns 730 shares of the company’s stock valued at $45,000 after buying an additional 718 shares during the last quarter. 87.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Evergy Price Performance

Evergy stock opened at $66.93 on Friday. The firm has a market capitalization of $15.40 billion, a PE ratio of 18.09, a P/E/G ratio of 2.82 and a beta of 0.53. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15. The firm’s 50-day simple moving average is $67.31 and its 200 day simple moving average is $64.91. Evergy, Inc. has a 52 week low of $52.10 and a 52 week high of $70.36.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.12). The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. During the same period in the previous year, the company posted $0.54 EPS. On average, equities research analysts predict that Evergy, Inc. will post 3.83 EPS for the current fiscal year.

Evergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 23rd will be given a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Friday, May 23rd. Evergy’s payout ratio is currently 70.26%.

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.