Parallel Advisors LLC Buys 1,385 Shares of Evergy, Inc. (NASDAQ:EVRG)

Parallel Advisors LLC increased its stake in Evergy, Inc. (NASDAQ:EVRG) by 17.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,111 shares of the company’s stock after buying an additional 1,385 shares during the quarter. Parallel Advisors LLC’s holdings in Evergy were worth $561,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of EVRG. FMR LLC lifted its position in Evergy by 131.4% in the third quarter. FMR LLC now owns 2,004,414 shares of the company’s stock worth $124,294,000 after buying an additional 1,138,138 shares during the last quarter. SG Americas Securities LLC lifted its position in Evergy by 15,406.4% in the fourth quarter. SG Americas Securities LLC now owns 921,546 shares of the company’s stock worth $56,721,000 after buying an additional 915,603 shares during the last quarter. Brandes Investment Partners LP bought a new stake in Evergy in the fourth quarter worth $55,652,000. Charles Schwab Investment Management Inc. lifted its position in Evergy by 42.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,135,011 shares of the company’s stock worth $132,392,000 after buying an additional 634,735 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Evergy by 25.8% in the third quarter. Point72 Asset Management L.P. now owns 2,848,735 shares of the company’s stock worth $176,650,000 after buying an additional 583,923 shares during the last quarter. 87.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on EVRG shares. Barclays raised their price target on 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 upgraded Evergy to a “strong-buy” rating in a research note on Monday. Finally, Guggenheim upgraded Evergy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $68.42.

Evergy Stock Performance

Shares of Evergy stock opened at $67.97 on Friday. The firm has a market cap of $15.63 billion, a P/E ratio of 18.37, a P/E/G ratio of 2.82 and a beta of 0.62. The company has a current ratio of 0.55, a quick ratio of 0.32 and a debt-to-equity ratio of 1.15. Evergy, Inc. has a 12 month low of $49.55 and a 12 month high of $69.93. The stock’s fifty day moving average price is $65.58 and its 200-day moving average price is $63.00.

Evergy (NASDAQ:EVRG) last announced 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). The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. On average, equities research analysts expect that Evergy, Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be paid a dividend of $0.6675 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.67 annualized dividend and a dividend yield of 3.93%. Evergy’s dividend payout ratio is currently 70.45%.

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.