PNC Financial Services Group Inc. Purchases 355 Shares of Evergy, Inc. (NASDAQ:EVRG)

PNC Financial Services Group Inc. boosted its position in shares of Evergy, Inc. (NASDAQ:EVRG) by 0.6% during the 4th quarter, HoldingsChannel reports. The fund owned 64,743 shares of the company’s stock after buying an additional 355 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Evergy were worth $3,985,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Evergy in the 4th quarter valued at $32,488,000. Cullen Frost Bankers Inc. raised its position in Evergy by 1.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 270,839 shares of the company’s stock worth $16,670,000 after purchasing an additional 2,984 shares in the last quarter. Arizona State Retirement System raised its position in Evergy by 1.4% in the fourth quarter. Arizona State Retirement System now owns 66,781 shares of the company’s stock worth $4,110,000 after purchasing an additional 906 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Evergy in the 4th quarter worth approximately $2,591,000. Finally, Cbre Investment Management Listed Real Assets LLC raised its holdings in shares of Evergy by 9.8% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,207,828 shares of the company’s stock worth $74,342,000 after buying an additional 107,305 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors.

Evergy Stock Performance

Shares of Evergy stock opened at $66.61 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32. The firm has a market cap of $15.32 billion, a P/E ratio of 18.00, a P/E/G ratio of 2.82 and a beta of 0.62. The firm has a 50 day simple moving average of $64.80 and a 200 day simple moving average of $62.67. Evergy, Inc. has a fifty-two week low of $49.55 and a fifty-two week high of $69.93.

Evergy (NASDAQ:EVRG) last released its earnings results on Thursday, February 27th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.11). The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.24 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. Sell-side analysts predict that Evergy, Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a $0.6675 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.67 dividend on an annualized basis and a yield of 4.01%. Evergy’s payout ratio is 70.45%.

Analysts Set New Price Targets

Several research firms have issued reports on EVRG. Guggenheim upgraded Evergy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Barclays increased their target price on shares of Evergy from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Finally, LADENBURG THALM/SH SH upgraded shares of Evergy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $59.00 to $68.50 in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.42.

Evergy Company 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.