International Assets Investment Management LLC Invests $23.90 Million in Evergy, Inc. (NYSE:EVRG)

International Assets Investment Management LLC acquired a new stake in shares of Evergy, Inc. (NYSE:EVRG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 45,779 shares of the company’s stock, valued at approximately $23,900,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atwood & Palmer Inc. raised its holdings in Evergy by 30.5% during the fourth quarter. Atwood & Palmer Inc. now owns 855 shares of the company’s stock valued at $45,000 after acquiring an additional 200 shares during the period. IFM Investors Pty Ltd lifted its holdings in Evergy by 0.3% in the 4th quarter. IFM Investors Pty Ltd now owns 73,111 shares of the company’s stock worth $3,816,000 after purchasing an additional 206 shares in the last quarter. Raleigh Capital Management Inc. boosted its stake in Evergy by 4.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 5,531 shares of the company’s stock worth $280,000 after purchasing an additional 211 shares during the period. Global Retirement Partners LLC boosted its stake in Evergy by 13.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,821 shares of the company’s stock worth $96,000 after purchasing an additional 216 shares during the period. Finally, New York Life Investment Management LLC grew its holdings in Evergy by 0.7% during the 3rd quarter. New York Life Investment Management LLC now owns 32,654 shares of the company’s stock valued at $1,656,000 after buying an additional 224 shares in the last quarter. 87.24% of the stock is owned by hedge funds and other institutional investors.

Evergy Stock Up 1.0 %

Shares of NYSE:EVRG opened at $54.10 on Friday. The company has a market cap of $12.43 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 2.79 and a beta of 0.57. Evergy, Inc. has a 12 month low of $46.92 and a 12 month high of $63.39. The company has a current ratio of 0.51, a quick ratio of 0.29 and a debt-to-equity ratio of 1.14. The company has a 50-day moving average price of $51.68 and a 200 day moving average price of $51.12.

Evergy (NYSE:EVRG) last posted 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 company had revenue of $1.19 billion during the quarter, compared to the consensus estimate 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 previous year, the business earned $0.30 earnings per share. As a group, equities research analysts predict that Evergy, Inc. will post 3.84 earnings per share for the current year.

Evergy Announces Dividend

The company also recently disclosed 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. This represents a $2.57 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend was Friday, March 8th. Evergy’s dividend payout ratio (DPR) is 80.82%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America raised shares of Evergy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $51.00 to $57.00 in a report on Wednesday, March 13th. Wells Fargo & Company dropped their price objective on shares of Evergy from $60.00 to $57.00 and set an “overweight” rating for the company in a report on Friday, March 1st. Guggenheim cut 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. Citigroup initiated coverage on Evergy in a research report on Tuesday, March 26th. They issued a “buy” rating and a $64.00 target price on the stock. Finally, Barclays raised their price target on Evergy from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.00.

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.