Polymer Capital Management HK LTD Acquires New Stake in Evergy, Inc. (NASDAQ:EVRG)

Polymer Capital Management HK LTD purchased a new position in Evergy, Inc. (NASDAQ:EVRG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,064 shares of the company's stock, valued at approximately $312,000.

Several other institutional investors and hedge funds have also bought and sold shares of EVRG. Lee Danner & Bass Inc. purchased a new position in shares of Evergy in the 4th quarter valued at approximately $26,000. National Pension Service purchased a new position in Evergy during the fourth quarter valued at $30,000. Bank of Jackson Hole Trust bought a new stake in shares of Evergy during the 4th quarter valued at $31,000. Sandy Spring Bank grew its position in shares of Evergy by 5,983.3% in the 4th quarter. Sandy Spring Bank now owns 730 shares of the company's stock worth $45,000 after buying an additional 718 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in shares of Evergy in the 4th quarter worth about $49,000. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Evergy Stock Up 1.6 %

EVRG stock traded up $1.04 during midday trading on Friday, hitting $66.52. The company's stock had a trading volume of 2,545,058 shares, compared to its average volume of 1,949,512. The company has a market cap of $15.30 billion, a PE ratio of 17.98, a P/E/G ratio of 2.82 and a beta of 0.52. The firm's 50-day moving average is $66.94 and its 200-day moving average is $63.74. Evergy, Inc. has a 12 month low of $49.55 and a 12 month high of $70.30. The company has a current ratio of 0.55, a quick ratio of 0.32 and a debt-to-equity ratio of 1.15.

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Evergy (NASDAQ:EVRG - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.11). Evergy had a net margin of 14.77% and a return on equity of 8.77%. The business had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.24 billion. On average, equities research analysts forecast that Evergy, Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were issued a dividend of $0.6675 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.67 annualized dividend and a dividend yield of 4.01%. Evergy's payout ratio is 70.45%.

Wall Street Analysts Forecast Growth

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

About Evergy

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.