Resona Asset Management Co. Ltd. Takes $4.57 Million Position in Evergy, Inc. (NASDAQ:EVRG)

Resona Asset Management Co. Ltd. bought a new stake in Evergy, Inc. (NASDAQ:EVRG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 74,153 shares of the company's stock, valued at approximately $4,566,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of EVRG. HighTower Advisors LLC raised its holdings in shares of Evergy by 391.1% in the third quarter. HighTower Advisors LLC now owns 97,186 shares of the company's stock valued at $6,030,000 after purchasing an additional 77,398 shares during the last quarter. Stifel Financial Corp increased its stake in Evergy by 9.7% in the 3rd quarter. Stifel Financial Corp now owns 273,314 shares of the company's stock valued at $16,948,000 after buying an additional 24,149 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in Evergy during the 3rd quarter worth about $202,000. MML Investors Services LLC boosted its stake in shares of Evergy by 22.1% during the 3rd quarter. MML Investors Services LLC now owns 5,168 shares of the company's stock worth $320,000 after buying an additional 935 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Evergy by 11.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 71,927 shares of the company's stock valued at $4,460,000 after acquiring an additional 7,280 shares in the last quarter. Institutional investors and hedge funds own 87.24% of the company's stock.

Evergy Price Performance

NASDAQ:EVRG traded up $0.85 during trading hours on Monday, hitting $67.37. The company's stock had a trading volume of 186,234 shares, compared to its average volume of 1,943,125. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32. The company has a market capitalization of $15.50 billion, a P/E ratio of 18.21, a PEG ratio of 2.82 and a beta of 0.52. Evergy, Inc. has a twelve month low of $49.55 and a twelve month high of $70.30. The stock has a fifty day simple moving average of $66.94 and a 200-day simple moving average of $63.75.

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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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.11). The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. On average, analysts anticipate that Evergy, Inc. will post 3.83 EPS for the current fiscal year.

Evergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend was Monday, March 10th. Evergy's dividend payout ratio is currently 70.45%.

Analyst Upgrades and Downgrades

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