Jennison Associates LLC Invests $37.53 Million in Evergy, Inc. (NYSE:EVRG)

Jennison Associates LLC bought a new stake in Evergy, Inc. (NYSE:EVRGFree Report) during the 1st quarter, Holdings Channel reports. The institutional investor bought 702,998 shares of the company’s stock, valued at approximately $37,526,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CVA Family Office LLC purchased a new position in shares of Evergy in the 4th quarter valued at $29,000. Fidelis Capital Partners LLC purchased a new stake in Evergy in the first quarter valued at approximately $32,000. Toth Financial Advisory Corp boosted its holdings in shares of Evergy by 199.5% in the first quarter. Toth Financial Advisory Corp now owns 635 shares of the company’s stock valued at $34,000 after acquiring an additional 423 shares during the period. Hexagon Capital Partners LLC grew its position in shares of Evergy by 222.2% during the fourth quarter. Hexagon Capital Partners LLC now owns 667 shares of the company’s stock worth $35,000 after acquiring an additional 460 shares during the last quarter. Finally, MV Capital Management Inc. increased its holdings in shares of Evergy by 3,263.6% in the 4th quarter. MV Capital Management Inc. now owns 740 shares of the company’s stock valued at $39,000 after acquiring an additional 718 shares during the period. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Price Performance

Shares of NYSE:EVRG opened at $53.24 on Wednesday. Evergy, Inc. has a 52 week low of $46.92 and a 52 week high of $61.84. The company has a 50-day moving average price of $53.69 and a 200 day moving average price of $52.20. The company has a market cap of $12.24 billion, a P/E ratio of 17.23, a PEG ratio of 2.75 and a beta of 0.60. The company has a quick ratio of 0.32, a current ratio of 0.57 and a debt-to-equity ratio of 1.21.

Evergy (NYSE:EVRGGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.07). Evergy had a net margin of 12.84% and a return on equity of 8.32%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the prior year, the business earned $0.59 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. Research analysts predict that Evergy, Inc. will post 3.85 earnings per share for the current year.

Evergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Monday, May 20th were paid a dividend of $0.6425 per share. The ex-dividend date was Friday, May 17th. This represents a $2.57 dividend on an annualized basis and a dividend yield of 4.83%. Evergy’s dividend payout ratio (DPR) is presently 83.17%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on EVRG shares. Citigroup began coverage on shares of Evergy in a research note on Tuesday, March 26th. They set a “buy” rating and a $64.00 price target for the company. LADENBURG THALM/SH SH initiated coverage on Evergy in a report on Thursday, April 4th. They set a “neutral” rating and a $51.00 price target on the stock. Barclays boosted their price target on Evergy from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, May 14th. Wells Fargo & Company increased their price objective on Evergy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. Finally, Bank of America raised Evergy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $51.00 to $57.00 in a report on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Evergy presently has an average rating of “Moderate Buy” and a consensus target price of $57.83.

View Our Latest Stock Analysis on Evergy

Evergy Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Evergy (NYSE:EVRG)

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