Modern Wealth Management LLC Raises Position in Evergy, Inc. (NASDAQ:EVRG)

Modern Wealth Management LLC lifted its stake in shares of Evergy, Inc. (NASDAQ:EVRG) by 39.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,521 shares of the company’s stock after buying an additional 1,849 shares during the period. Modern Wealth Management LLC’s holdings in Evergy were worth $429,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. HighTower Advisors LLC boosted its stake in shares of Evergy by 391.1% in the 3rd quarter. HighTower Advisors LLC now owns 97,186 shares of the company’s stock worth $6,030,000 after buying an additional 77,398 shares during the last quarter. Allworth Financial LP grew its stake in Evergy by 84.6% in the 4th quarter. Allworth Financial LP now owns 7,975 shares of the company’s stock valued at $501,000 after purchasing an additional 3,654 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Evergy during the 4th quarter valued at $49,000. Bank of Montreal Can raised its stake in shares of Evergy by 29.1% during the 3rd quarter. Bank of Montreal Can now owns 997,832 shares of the company’s stock worth $61,806,000 after purchasing an additional 224,679 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of Evergy by 34.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 945,148 shares of the company’s stock worth $58,609,000 after purchasing an additional 239,599 shares during the period. Institutional investors own 87.24% of the company’s stock.

Evergy Trading Down 0.0 %

Shares of EVRG stock opened at $67.32 on Friday. The stock has a market capitalization of $15.48 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 2.82 and a beta of 0.62. The company’s fifty day simple moving average is $66.16 and its two-hundred day simple moving average is $63.25. Evergy, Inc. has a 1 year low of $49.55 and a 1 year high of $69.93. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32.

Evergy (NASDAQ:EVRG) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.11). Evergy had a net margin of 14.77% and a return on equity of 8.77%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.24 billion. As a group, analysts anticipate that Evergy, Inc. will post 3.83 earnings per share for the current year.

Evergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a $0.6675 dividend. The ex-dividend date was Monday, March 10th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.97%. Evergy’s dividend payout ratio (DPR) is currently 70.45%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. LADENBURG THALM/SH SH upgraded shares of Evergy to a “strong-buy” rating in a research note on Monday, March 17th. Guggenheim upgraded Evergy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. UBS Group raised their target price on Evergy from $66.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Finally, Barclays upped their price target on Evergy from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $69.08.

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.