Davis Capital Management Takes $1.38 Million Position in Evergy Inc. $EVRG

Davis Capital Management purchased a new position in Evergy Inc. (NASDAQ:EVRG) in the third quarter, Holdings Channel reports. The fund purchased 18,143 shares of the company’s stock, valued at approximately $1,379,000.

A number of other hedge funds also recently bought and sold shares of EVRG. AlphaCore Capital LLC purchased a new stake in shares of Evergy in the second quarter valued at approximately $33,000. CYBER HORNET ETFs LLC purchased a new stake in Evergy in the 2nd quarter worth $42,000. Bfsg LLC raised its position in Evergy by 82.2% during the second quarter. Bfsg LLC now owns 665 shares of the company’s stock worth $46,000 after acquiring an additional 300 shares during the period. MUFG Securities EMEA plc purchased a new position in Evergy during the second quarter valued at $47,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Evergy in the second quarter valued at about $48,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Evergy Price Performance

NASDAQ:EVRG opened at $73.08 on Friday. Evergy Inc. has a one year low of $59.67 and a one year high of $79.32. The stock has a market cap of $16.82 billion, a PE ratio of 20.02, a P/E/G ratio of 2.95 and a beta of 0.67. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.30 and a current ratio of 0.52. The stock has a 50 day moving average price of $75.07 and a 200 day moving average price of $73.19.

Evergy (NASDAQ:EVRG) last released its quarterly earnings data on Wednesday, November 5th. The company reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $2.24 billion. Evergy had a return on equity of 8.66% and a net margin of 14.45%.The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the firm posted $2.02 EPS. Equities research analysts expect that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, November 21st were issued a $0.695 dividend. This is an increase from Evergy’s previous quarterly dividend of $0.67. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, November 21st. Evergy’s payout ratio is currently 76.16%.

Wall Street Analysts Forecast Growth

EVRG has been the subject of several research analyst reports. Jefferies Financial Group upped their price target on shares of Evergy from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Mizuho reissued a “neutral” rating and set a $76.00 target price (down previously from $86.00) on shares of Evergy in a report on Thursday, December 18th. Weiss Ratings restated a “buy (b-)” rating on shares of Evergy in a research report on Monday, December 29th. Wall Street Zen cut Evergy from a “hold” rating to a “sell” rating in a research report on Monday, December 22nd. Finally, Wells Fargo & Company upgraded Evergy to a “hold” rating in a report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.75.

About Evergy

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.