Korea Investment CORP Grows Holdings in Evergy, Inc. (NASDAQ:EVRG)

Korea Investment CORP increased its stake in shares of Evergy, Inc. (NASDAQ:EVRG) by 24.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 241,657 shares of the company’s stock after purchasing an additional 47,500 shares during the period. Korea Investment CORP’s holdings in Evergy were worth $14,874,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC increased its stake in Evergy by 131.4% during the third quarter. FMR LLC now owns 2,004,414 shares of the company’s stock worth $124,294,000 after purchasing an additional 1,138,138 shares during the period. SG Americas Securities LLC grew its holdings in shares of Evergy by 15,406.4% in the fourth quarter. SG Americas Securities LLC now owns 921,546 shares of the company’s stock valued at $56,721,000 after purchasing an additional 915,603 shares in the last quarter. Brandes Investment Partners LP purchased a new stake in Evergy during the 4th quarter worth approximately $55,652,000. Point72 Asset Management L.P. lifted its holdings in Evergy by 25.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,848,735 shares of the company’s stock worth $176,650,000 after buying an additional 583,923 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Evergy in the 4th quarter valued at approximately $32,488,000. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Trading Up 0.8 %

EVRG opened at $67.87 on Monday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. Evergy, Inc. has a one year low of $49.55 and a one year high of $69.93. The company has a market cap of $15.61 billion, a P/E ratio of 18.34, a PEG ratio of 2.82 and a beta of 0.62. The business’s 50-day simple moving average is $66.26 and its 200-day simple moving average is $63.34.

Evergy (NASDAQ:EVRG) last announced its quarterly 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 company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. As a group, equities research analysts expect that Evergy, Inc. will post 3.83 EPS for the current fiscal year.

Evergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a $0.6675 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.67 annualized dividend and a yield of 3.93%. Evergy’s dividend payout ratio is presently 70.45%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EVRG. Barclays increased their price objective on Evergy from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. UBS Group increased their price target on Evergy from $66.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. LADENBURG THALM/SH SH raised Evergy to a “strong-buy” rating in a research report on Monday, March 17th. Finally, Guggenheim upgraded shares of Evergy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $69.08.

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.