Massachusetts Financial Services Co. MA Has $155.60 Million Position in Evergy Inc. $EVRG

Massachusetts Financial Services Co. MA raised its holdings in Evergy Inc. (NASDAQ:EVRG) by 346.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,046,787 shares of the company’s stock after buying an additional 1,588,100 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Evergy were worth $155,597,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in EVRG. Simplicity Wealth LLC acquired a new stake in Evergy during the second quarter valued at approximately $778,000. Synergy Asset Management LLC boosted its position in Evergy by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 148,940 shares of the company’s stock valued at $11,322,000 after buying an additional 74,470 shares during the last quarter. Wedmont Private Capital grew its holdings in Evergy by 11.8% during the 2nd quarter. Wedmont Private Capital now owns 3,845 shares of the company’s stock worth $265,000 after acquiring an additional 406 shares during the period. Leo Wealth LLC acquired a new position in shares of Evergy during the 2nd quarter worth about $1,399,000. Finally, Callan Family Office LLC acquired a new stake in Evergy in the second quarter worth $413,000. 87.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Royal Bank Of Canada raised Evergy to a “moderate buy” rating in a research report on Tuesday, October 28th. UBS Group raised their price target on Evergy from $81.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Barclays restated an “outperform” rating on shares of Evergy in a research note on Thursday, October 9th. Citigroup lifted their price target on Evergy from $79.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Finally, Wall Street Zen cut Evergy from a “hold” rating to a “sell” rating in a report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $82.75.

Evergy Stock Up 0.9%

NASDAQ EVRG opened at $76.44 on Tuesday. The stock has a market cap of $17.60 billion, a PE ratio of 20.94, a P/E/G ratio of 3.09 and a beta of 0.67. The stock’s 50 day moving average is $74.45 and its 200 day moving average is $73.66. Evergy Inc. has a 12 month low of $61.94 and a 12 month high of $79.32. The company has a current ratio of 0.52, a quick ratio of 0.30 and a debt-to-equity ratio of 1.20.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.11). Evergy had a return on equity of 8.66% and a net margin of 14.45%.The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the business earned $2.02 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. Research analysts predict that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, November 21st were given a $0.695 dividend. This is a positive change from Evergy’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Friday, November 21st. This represents a $2.78 annualized dividend and a yield of 3.6%. Evergy’s dividend payout ratio is presently 76.16%.

Evergy Company Profile

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company’s business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.