Davis Capital Management Invests $1.38 Million in Evergy Inc. $EVRG

Davis Capital Management bought a new position in shares of Evergy Inc. (NASDAQ:EVRG) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 18,143 shares of the company’s stock, valued at approximately $1,379,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Synergy Asset Management LLC boosted its holdings in Evergy by 100.0% in the third quarter. Synergy Asset Management LLC now owns 148,940 shares of the company’s stock worth $11,322,000 after acquiring an additional 74,470 shares in the last quarter. Signaturefd LLC boosted its stake in Evergy by 7.1% in the 3rd quarter. Signaturefd LLC now owns 6,966 shares of the company’s stock worth $530,000 after purchasing an additional 459 shares in the last quarter. Miracle Mile Advisors LLC purchased a new stake in Evergy during the 3rd quarter worth approximately $287,000. Advocate Group LLC increased its stake in Evergy by 0.4% during the 3rd quarter. Advocate Group LLC now owns 146,488 shares of the company’s stock valued at $11,136,000 after purchasing an additional 550 shares in the last quarter. Finally, Merit Financial Group LLC increased its stake in Evergy by 13.3% during the 3rd quarter. Merit Financial Group LLC now owns 5,791 shares of the company’s stock valued at $440,000 after purchasing an additional 679 shares in the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EVRG has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their price objective on shares of Evergy from $77.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Royal Bank Of Canada upgraded Evergy to a “moderate buy” rating in a research note on Tuesday, October 28th. Wall Street Zen lowered Evergy from a “hold” rating to a “sell” rating in a report on Monday, December 22nd. UBS Group raised their price objective on Evergy from $81.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Evergy in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.75.

Evergy Stock Performance

Shares of EVRG stock opened at $73.08 on Friday. Evergy Inc. has a 52-week low of $59.67 and a 52-week high of $79.32. The company has a quick ratio of 0.30, a current ratio of 0.52 and a debt-to-equity ratio of 1.20. The stock has a market cap of $16.82 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 2.95 and a beta of 0.67. The business has a 50-day simple moving average of $75.07 and a 200-day simple moving average of $73.19.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.11). Evergy had a net margin of 14.45% and a return on equity of 8.66%. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the business posted $2.02 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. On average, equities analysts expect that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, November 21st were paid a $0.695 dividend. The ex-dividend date was Friday, November 21st. This represents a $2.78 annualized dividend and a dividend yield of 3.8%. This is an increase from Evergy’s previous quarterly dividend of $0.67. Evergy’s dividend payout ratio (DPR) 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.