CX Institutional Invests $179,000 in Evergy, Inc. (NASDAQ:EVRG)

CX Institutional acquired a new stake in Evergy, Inc. (NASDAQ:EVRG) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 2,599 shares of the company’s stock, valued at approximately $179,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Lee Danner & Bass Inc. bought a new stake in shares of Evergy during the 4th quarter worth approximately $26,000. National Pension Service acquired a new position in Evergy in the 4th quarter valued at $30,000. Bank of Jackson Hole Trust acquired a new position in Evergy in the 4th quarter valued at $31,000. Colonial Trust Co SC acquired a new stake in shares of Evergy during the 4th quarter worth $32,000. Finally, Sandy Spring Bank grew its holdings in shares of 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. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Stock Up 0.1%

Shares of NASDAQ:EVRG opened at $67.99 on Monday. The stock has a market cap of $15.64 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 2.82 and a beta of 0.49. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15. Evergy, Inc. has a 12-month low of $52.10 and a 12-month high of $70.36. The business’s 50 day moving average is $66.98 and its 200 day moving average is $65.45.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates 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 prior year, the company earned $0.54 EPS. On average, sell-side analysts forecast that Evergy, Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 23rd will be given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Friday, May 23rd. Evergy’s dividend payout ratio (DPR) is presently 70.26%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wall Street Zen lowered Evergy from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Citigroup raised their price objective on Evergy from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. BMO Capital Markets started coverage on Evergy in a report on Tuesday, May 13th. They issued an “outperform” rating and a $75.00 target price for the company. UBS Group upgraded Evergy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $78.00 in a report on Monday, April 28th. Finally, LADENBURG THALM/SH SH upgraded Evergy to a “strong-buy” rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $73.19.

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.