GAMMA Investing LLC Invests $192,000 in Evergy, Inc. (NYSE:EVRG)

GAMMA Investing LLC purchased a new position in shares of Evergy, Inc. (NYSE:EVRG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,788 shares of the company’s stock, valued at approximately $192,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Metis Global Partners LLC increased its stake in shares of Evergy by 20.5% during the third quarter. Metis Global Partners LLC now owns 8,326 shares of the company’s stock worth $422,000 after acquiring an additional 1,419 shares during the period. CTC Alternative Strategies Ltd. purchased a new stake in Evergy during the fourth quarter worth about $1,121,000. RNC Capital Management LLC boosted its holdings in Evergy by 8.6% during the fourth 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 in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Evergy by 47.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,516,817 shares of the company’s stock worth $79,178,000 after buying an additional 487,322 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Evergy by 85.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 41,076 shares of the company’s stock worth $2,144,000 after buying an additional 18,910 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Stock Down 1.4 %

Shares of NYSE EVRG opened at $51.69 on Friday. Evergy, Inc. has a 12-month low of $46.92 and a 12-month high of $63.39. The company has a market capitalization of $11.88 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 2.73 and a beta of 0.57. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.51 and a quick ratio of 0.29. The firm’s 50-day moving average is $51.36 and its two-hundred day moving average is $50.99.

Evergy (NYSE:EVRG) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the company earned $0.30 EPS. Equities analysts anticipate that Evergy, Inc. will post 3.84 EPS for the current fiscal year.

Evergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were issued a $0.6425 dividend. This represents a $2.57 annualized dividend and a dividend yield of 4.97%. The ex-dividend date was Friday, March 8th. Evergy’s dividend payout ratio (DPR) is presently 80.82%.

Analysts Set New Price Targets

EVRG has been the topic of a number of research analyst reports. Guggenheim downgraded shares of Evergy from a “buy” rating to a “neutral” rating and set a $52.00 price objective on the stock. in a report on Monday, January 22nd. LADENBURG THALM/SH SH initiated coverage on shares of Evergy in a report on Thursday, April 4th. They set a “neutral” rating and a $51.00 price objective on the stock. Barclays boosted their price objective on shares of Evergy from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. Citigroup initiated coverage on shares of Evergy in a report on Tuesday, March 26th. They set a “buy” rating and a $64.00 price objective on the stock. Finally, Bank of America raised shares of Evergy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $51.00 to $57.00 in a report on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

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.