Polymer Capital Management US LLC Purchases Shares of 60,000 Evergy, Inc. (NASDAQ:EVRG)

Polymer Capital Management US LLC bought a new position in shares of Evergy, Inc. (NASDAQ:EVRG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 60,000 shares of the company's stock, valued at approximately $3,693,000. Evergy comprises about 1.0% of Polymer Capital Management US LLC's holdings, making the stock its 24th biggest position.

Several other large investors have also recently bought and sold shares of the company. Cerity Partners LLC raised its position in Evergy by 6.2% in the 4th quarter. Cerity Partners LLC now owns 55,127 shares of the company's stock valued at $3,400,000 after buying an additional 3,215 shares during the last quarter. Sierra Summit Advisors LLC grew its stake in Evergy by 33.0% in the 4th quarter. Sierra Summit Advisors LLC now owns 12,254 shares of the company's stock valued at $754,000 after buying an additional 3,038 shares in the last quarter. Polymer Capital Management HK LTD purchased a new stake in shares of Evergy in the fourth quarter worth about $312,000. Federated Hermes Inc. grew its position in Evergy by 2.2% during the fourth quarter. Federated Hermes Inc. now owns 3,434,216 shares of the company's stock worth $211,376,000 after buying an additional 73,066 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Evergy by 3.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 331,086 shares of the company's stock valued at $20,378,000 after purchasing an additional 9,514 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays upped their price target on shares of 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 upgraded Evergy to a "strong-buy" rating in a research note on Monday, March 17th. Guggenheim upgraded shares of Evergy from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Finally, UBS Group lifted their price objective on Evergy from $66.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. 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 has a consensus rating of "Buy" and an average target price of $69.08.

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Evergy Stock Up 1.6 %

Shares of EVRG traded up $1.04 during mid-day trading on Friday, hitting $66.52. 2,545,058 shares of the company traded hands, compared to its average volume of 1,949,512. The company has a market capitalization of $15.30 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 2.82 and a beta of 0.52. 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 business has a 50 day moving average of $66.94 and a 200 day moving average of $63.74. Evergy, Inc. has a 1-year low of $49.55 and a 1-year high of $70.30.

Evergy (NASDAQ:EVRG - Get Free Report) last released 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). Evergy had a net margin of 14.77% and a return on equity of 8.77%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. Equities research analysts anticipate that Evergy, Inc. will post 3.83 EPS for the current year.

Evergy Dividend Announcement

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

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.