SRS Capital Advisors Inc. Sells 594 Shares of Evergy, Inc. (NYSE:EVRG)

SRS Capital Advisors Inc. lessened its stake in Evergy, Inc. (NYSE:EVRG) by 21.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,184 shares of the company’s stock after selling 594 shares during the period. SRS Capital Advisors Inc.’s holdings in Evergy were worth $114,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in EVRG. Metis Global Partners LLC grew its holdings in shares of Evergy by 20.5% during the 3rd quarter. Metis Global Partners LLC now owns 8,326 shares of the company’s stock worth $422,000 after purchasing an additional 1,419 shares in the last quarter. CTC Alternative Strategies Ltd. acquired a new position in shares of Evergy in the 4th quarter valued at $1,121,000. RNC Capital Management LLC lifted its holdings in shares of Evergy by 8.6% during the 4th quarter. RNC Capital Management LLC now owns 586,133 shares of the company’s stock worth $30,596,000 after acquiring an additional 46,437 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Evergy by 47.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,516,817 shares of the company’s stock valued at $79,178,000 after acquiring an additional 487,322 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Evergy by 85.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 41,076 shares of the company’s stock valued at $2,144,000 after acquiring an additional 18,910 shares during the period. 87.24% of the stock is owned by institutional investors and hedge funds.

Evergy Trading Up 1.0 %

Shares of EVRG traded up $0.55 during trading hours on Friday, hitting $54.10. 3,072,001 shares of the stock traded hands, compared to its average volume of 1,846,729. The business has a fifty day moving average of $51.68 and a 200-day moving average of $51.12. The company has a current ratio of 0.51, a quick ratio of 0.29 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $12.43 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 2.79 and a beta of 0.57. Evergy, Inc. has a 1-year low of $46.92 and a 1-year high of $63.39.

Evergy (NYSE:EVRG) last released its earnings results on Thursday, February 29th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). Evergy had a net margin of 13.28% and a return on equity of 8.47%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. Analysts expect that Evergy, Inc. will post 3.84 EPS for the current year.

Evergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were given a dividend of $0.6425 per share. This represents a $2.57 annualized dividend and a dividend yield of 4.75%. The ex-dividend date was Friday, March 8th. Evergy’s payout ratio is 80.82%.

Analysts Set New Price Targets

A number of analysts have weighed in on EVRG shares. Citigroup started coverage on Evergy in a research report on Tuesday, March 26th. They issued a “buy” rating and a $64.00 price target on the stock. Wells Fargo & Company decreased their price target on Evergy from $60.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, March 1st. Bank of America upgraded Evergy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $51.00 to $57.00 in a research report on Wednesday, March 13th. Barclays increased their target price on Evergy from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. Finally, LADENBURG THALM/SH SH began coverage on Evergy in a report on Thursday, April 4th. They issued a “neutral” rating and a $51.00 price target for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.00.

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.