Pallas Capital Advisors LLC Raises Stake in Evergy, Inc. (NASDAQ:EVRG)

Pallas Capital Advisors LLC grew its stake in shares of Evergy, Inc. (NASDAQ:EVRG) by 7.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,855 shares of the company’s stock after purchasing an additional 708 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Evergy were worth $748,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Quent Capital LLC boosted its stake in shares of Evergy by 4.6% during the fourth quarter. Quent Capital LLC now owns 3,692 shares of the company’s stock valued at $227,000 after purchasing an additional 163 shares during the period. Stolper Co boosted its stake in shares of Evergy by 0.5% during the first quarter. Stolper Co now owns 34,630 shares of the company’s stock valued at $2,388,000 after purchasing an additional 169 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in Evergy by 5.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,873 shares of the company’s stock worth $238,000 after acquiring an additional 190 shares during the period. Oxbow Advisors LLC lifted its stake in Evergy by 0.5% in the fourth quarter. Oxbow Advisors LLC now owns 44,349 shares of the company’s stock worth $2,730,000 after acquiring an additional 200 shares during the period. Finally, KCM Investment Advisors LLC lifted its stake in Evergy by 3.7% in the fourth quarter. KCM Investment Advisors LLC now owns 5,946 shares of the company’s stock worth $366,000 after acquiring an additional 210 shares during the period. 87.24% of the stock is owned by hedge funds and other institutional investors.

Evergy Stock Performance

EVRG stock opened at $67.51 on Thursday. The firm has a market cap of $15.53 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 2.82 and a beta of 0.49. The firm has a 50-day simple moving average of $66.84 and a two-hundred day simple moving average of $65.40. Evergy, Inc. has a one year low of $52.10 and a one year high of $70.36. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55.

Evergy (NASDAQ:EVRG) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.12). The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. During the same period in the previous year, the company posted $0.54 earnings per share. On average, equities analysts forecast that Evergy, Inc. will post 3.83 EPS for the current fiscal year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.6675 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.67 annualized dividend and a dividend yield of 3.95%. Evergy’s dividend payout ratio (DPR) is currently 70.26%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EVRG. Jefferies Financial Group set a $78.00 price objective on shares of Evergy and gave the stock a “buy” rating in a research note on Tuesday. Wall Street Zen lowered shares of Evergy from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Barclays lowered their price objective on shares of Evergy from $73.00 to $71.00 and set an “overweight” rating for the company in a research note on Friday, May 30th. Citigroup upped their price objective on shares of Evergy from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Finally, BMO Capital Markets began coverage on shares of Evergy in a research note on Tuesday, May 13th. They issued an “outperform” rating and a $75.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.19.

Evergy 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.