California Public Employees Retirement System Purchases 8,580 Shares of Evergy, Inc. (NASDAQ:EVRG)

California Public Employees Retirement System lifted its position in shares of Evergy, Inc. (NASDAQ:EVRG - Free Report) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,040,565 shares of the company's stock after purchasing an additional 8,580 shares during the period. California Public Employees Retirement System owned 0.45% of Evergy worth $64,047,000 at the end of the most recent quarter.

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

Evergy Price Performance

NASDAQ:EVRG traded down $3.03 during mid-day trading on Friday, hitting $66.18. 4,851,233 shares of the stock traded hands, compared to its average volume of 1,917,072. The business's 50-day moving average price is $66.79 and its 200 day moving average price is $63.60. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15. The company has a market cap of $15.22 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 2.82 and a beta of 0.52. Evergy, Inc. has a 12-month low of $49.55 and a 12-month high of $70.30.

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Evergy (NASDAQ:EVRG - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.35 earnings per share 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 the consensus estimate of $1.24 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. On average, analysts expect that Evergy, Inc. will post 3.83 EPS for the current fiscal year.

Evergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a dividend of $0.6675 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.03%. Evergy's dividend payout ratio (DPR) is presently 70.45%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EVRG. UBS Group increased their price target on Evergy from $66.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. 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. LADENBURG THALM/SH SH raised shares of Evergy to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Guggenheim raised shares of 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 assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $69.08.

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.