Mutual of America Capital Management LLC Boosts Stock Position in Evergy, Inc. (NYSE:EVRG)

Mutual of America Capital Management LLC increased its stake in Evergy, Inc. (NYSE:EVRG) by 8.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 118,079 shares of the company’s stock after purchasing an additional 9,436 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Evergy were worth $6,303,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. CTC Alternative Strategies Ltd. bought a new position in shares of Evergy in the fourth quarter worth $1,121,000. OLD Republic International Corp grew its holdings in shares of Evergy by 31.7% during the fourth quarter. OLD Republic International Corp now owns 830,246 shares of the company’s stock worth $43,339,000 after purchasing an additional 200,000 shares in the last quarter. RNC Capital Management LLC increased its holdings in shares of Evergy by 8.6% in the 4th quarter. RNC Capital Management LLC now owns 586,133 shares of the company’s stock worth $30,596,000 after buying an additional 46,437 shares during the last quarter. APG Asset Management US Inc. purchased a new stake in shares of Evergy during the 4th quarter valued at $2,057,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Evergy by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 30,757,415 shares of the company’s stock worth $1,605,537,000 after acquiring an additional 1,399,199 shares during the last quarter. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Evergy Trading Up 1.0 %

EVRG traded up $0.53 during trading on Tuesday, hitting $53.43. 537,788 shares of the stock traded hands, compared to its average volume of 2,264,882. The firm has a market capitalization of $12.29 billion, a P/E ratio of 17.23, a price-to-earnings-growth ratio of 2.75 and a beta of 0.60. Evergy, Inc. has a 12-month low of $46.92 and a 12-month high of $61.84. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.57 and a quick ratio of 0.32. The firm has a 50-day moving average of $53.67 and a 200 day moving average of $52.19.

Evergy (NYSE:EVRG) last posted its earnings results on Thursday, May 9th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.07). Evergy had a return on equity of 8.32% and a net margin of 12.84%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the prior year, the company posted $0.59 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts anticipate that Evergy, Inc. will post 3.85 EPS for the current year.

Evergy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Monday, May 20th were paid a dividend of $0.6425 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $2.57 annualized dividend and a dividend yield of 4.81%. Evergy’s dividend payout ratio (DPR) is presently 83.17%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wells Fargo & Company raised their price target on Evergy from $57.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. LADENBURG THALM/SH SH initiated coverage on Evergy in a research report on Thursday, April 4th. They issued a “neutral” rating and a $51.00 target price for the company. Bank of America upgraded shares of Evergy from a “neutral” rating to a “buy” rating and increased their price target for the company from $51.00 to $57.00 in a research report on Wednesday, March 13th. Citigroup initiated coverage on shares of Evergy in a report on Tuesday, March 26th. They issued a “buy” rating and a $64.00 price objective for the company. Finally, Barclays boosted their price target on shares of Evergy from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.83.

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.