Davis Capital Management Purchases New Shares in Evergy, Inc. (NASDAQ:EVRG)

Davis Capital Management purchased a new stake in shares of Evergy, Inc. (NASDAQ:EVRG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,048 shares of the company’s stock, valued at approximately $680,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Pathway Financial Advisers LLC increased its stake in shares of Evergy by 6,854.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,539,001 shares of the company’s stock valued at $157,443,000 after buying an additional 2,502,493 shares during the period. Mizuho Securities USA LLC increased its stake in shares of Evergy by 7,234.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 1,300,000 shares of the company’s stock valued at $80,613,000 after buying an additional 1,282,275 shares during the period. FMR LLC increased its stake in shares of Evergy by 131.4% in the 3rd quarter. FMR LLC now owns 2,004,414 shares of the company’s stock valued at $124,294,000 after buying an additional 1,138,138 shares during the period. Millennium Management LLC increased its stake in shares of Evergy by 38.6% in the 2nd quarter. Millennium Management LLC now owns 3,683,000 shares of the company’s stock valued at $195,089,000 after buying an additional 1,026,374 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Evergy by 147.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,193,382 shares of the company’s stock valued at $63,213,000 after buying an additional 711,785 shares during the period. 87.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EVRG has been the subject of several research reports. Wells Fargo & Company lifted their target price on Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. LADENBURG THALM/SH SH raised Evergy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $59.00 to $68.50 in a research note on Thursday, January 2nd. Mizuho initiated coverage on Evergy in a research note on Tuesday, October 29th. They set an “outperform” rating and a $67.00 price objective for the company. Finally, Barclays decreased their price objective on Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Evergy has a consensus rating of “Moderate Buy” and a consensus price target of $64.06.

Insiders Place Their Bets

In other news, EVP Kevin E. Bryant sold 48,141 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total value of $3,029,513.13. Following the sale, the executive vice president now directly owns 1 shares in the company, valued at $62.93. The trade was a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.26% of the company’s stock.

Evergy Stock Performance

EVRG stock opened at $63.63 on Wednesday. The business’s 50-day moving average price is $62.46 and its two-hundred day moving average price is $60.42. The company has a current ratio of 0.55, a quick ratio of 0.32 and a debt-to-equity ratio of 1.15. The firm has a market cap of $14.63 billion, a PE ratio of 17.20, a P/E/G ratio of 2.76 and a beta of 0.64. Evergy, Inc. has a 1-year low of $48.04 and a 1-year high of $65.47.

Evergy (NASDAQ:EVRG) last posted its earnings results on Thursday, November 7th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.07. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $2.35 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.88 earnings per share. As a group, research analysts forecast that Evergy, Inc. will post 3.84 earnings per share for the current year.

Evergy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.6675 per share. The ex-dividend date was Thursday, November 21st. This is a positive change from Evergy’s previous quarterly dividend of $0.64. This represents a $2.67 annualized dividend and a yield of 4.20%. Evergy’s payout ratio is currently 72.16%.

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.