Tokio Marine Asset Management Co. Ltd. Raises Position in Evergy Inc. (NASDAQ:EVRG)

Tokio Marine Asset Management Co. Ltd. grew its position in Evergy Inc. (NASDAQ:EVRG) by 13.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,712 shares of the company’s stock after acquiring an additional 795 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Evergy were worth $463,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Nuveen LLC purchased a new stake in shares of Evergy in the first quarter valued at about $212,132,000. Northern Trust Corp lifted its stake in shares of Evergy by 5.7% in the fourth quarter. Northern Trust Corp now owns 2,345,119 shares of the company’s stock valued at $144,342,000 after purchasing an additional 125,898 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Evergy by 0.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,174,047 shares of the company’s stock valued at $149,901,000 after purchasing an additional 13,555 shares during the period. Jennison Associates LLC lifted its stake in shares of Evergy by 11.2% in the first quarter. Jennison Associates LLC now owns 1,730,849 shares of the company’s stock valued at $119,342,000 after purchasing an additional 174,269 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in shares of Evergy by 12.8% in the fourth quarter. Two Sigma Advisers LP now owns 1,417,100 shares of the company’s stock valued at $87,223,000 after purchasing an additional 161,000 shares during the period. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on EVRG. Barclays reduced their price objective on shares of Evergy from $73.00 to $71.00 and set an “overweight” rating for the company in a research note on Friday, May 30th. UBS Group upgraded shares of Evergy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $68.00 to $78.00 in a research note on Monday, April 28th. Wall Street Zen cut shares of Evergy from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. LADENBURG THALM/SH SH upgraded shares of Evergy to a “strong-buy” rating in a research note on Thursday, May 8th. Finally, Jefferies Financial Group set a $78.00 target price on shares of Evergy and gave the stock a “buy” rating in a research report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.44.

Evergy Stock Performance

Shares of EVRG opened at $71.95 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. The stock has a market cap of $16.56 billion, a P/E ratio of 19.77, a PEG ratio of 3.18 and a beta of 0.48. The company has a 50-day moving average of $69.52 and a two-hundred day moving average of $67.77. Evergy Inc. has a 12-month low of $57.82 and a 12-month high of $73.97.

Evergy (NASDAQ:EVRG) last announced its earnings results on Thursday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Evergy had a net margin of 14.29% and a return on equity of 8.62%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 earnings per share. As a group, research analysts predict that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.6675 per share. The ex-dividend date is Friday, August 22nd. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.7%. Evergy’s payout ratio is 73.35%.

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.