Institute for Wealth Management LLC. Acquires Shares of 2,958 Evergy Inc. (NASDAQ:EVRG)

Institute for Wealth Management LLC. acquired a new stake in Evergy Inc. (NASDAQ:EVRG) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 2,958 shares of the company’s stock, valued at approximately $204,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EVRG. ExodusPoint Capital Management LP increased its position in shares of Evergy by 164.8% during the fourth quarter. ExodusPoint Capital Management LP now owns 2,312,953 shares of the company’s stock valued at $142,362,000 after acquiring an additional 1,439,450 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Evergy by 8,154.8% during the first quarter. GAMMA Investing LLC now owns 973,574 shares of the company’s stock valued at $67,128,000 after acquiring an additional 961,780 shares during the last quarter. Brandes Investment Partners LP purchased a new stake in shares of Evergy during the 4th quarter valued at $55,652,000. Groupama Asset Managment increased its position in shares of Evergy by 3,216.6% during the 4th quarter. Groupama Asset Managment now owns 880,768 shares of the company’s stock valued at $54,211,000 after purchasing an additional 854,212 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Evergy during the 1st quarter valued at $40,285,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Evergy Stock Up 0.6%

Evergy stock opened at $67.19 on Friday. Evergy Inc. has a 1-year low of $52.10 and a 1-year high of $70.36. The firm has a market capitalization of $15.46 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 2.90 and a beta of 0.49. The company has a current ratio of 0.55, a quick ratio of 0.29 and a debt-to-equity ratio of 1.24. The firm has a 50 day simple moving average of $67.13 and a 200 day simple moving average of $65.53.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.12). The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Evergy had a net margin of 14.87% and a return on equity of 8.84%. During the same quarter last year, the firm posted $0.54 earnings per share. On average, analysts predict that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 23rd were issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend was Friday, May 23rd. Evergy’s payout ratio is presently 70.26%.

Analysts Set New Price Targets

A number of research analysts have weighed in on EVRG shares. Citigroup boosted their target price on shares of Evergy from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Jefferies Financial Group set a $78.00 price target on shares of Evergy and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Barclays decreased their price target 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. UBS Group raised Evergy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $68.00 to $78.00 in a research report on Monday, April 28th. Finally, LADENBURG THALM/SH SH raised Evergy to a “strong-buy” rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Evergy presently has a consensus rating of “Moderate Buy” and an average target price 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.