Nova R Wealth Inc. Takes Position in Evergy Inc. (NASDAQ:EVRG)

Nova R Wealth Inc. bought a new stake in shares of Evergy Inc. (NASDAQ:EVRG) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,103 shares of the company’s stock, valued at approximately $214,000.

Other institutional investors have also bought and sold shares of the company. Alpine Bank Wealth Management bought a new position in Evergy during the 1st quarter valued at $32,000. Golden State Equity Partners raised its holdings in shares of Evergy by 16.3% in the first quarter. Golden State Equity Partners now owns 4,592 shares of the company’s stock valued at $317,000 after purchasing an additional 642 shares during the last quarter. LaFleur & Godfrey LLC lifted its position in shares of Evergy by 41.6% during the first quarter. LaFleur & Godfrey LLC now owns 23,360 shares of the company’s stock valued at $1,611,000 after purchasing an additional 6,868 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Evergy by 3.2% during the first quarter. Asset Management One Co. Ltd. now owns 95,194 shares of the company’s stock valued at $6,564,000 after purchasing an additional 2,986 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in Evergy by 15.0% during the first quarter. Oppenheimer & Co. Inc. now owns 106,141 shares of the company’s stock worth $7,318,000 after purchasing an additional 13,806 shares during the last quarter. Institutional investors own 87.24% of the company’s stock.

Wall Street Analysts Forecast Growth

EVRG has been the subject of several analyst reports. Jefferies Financial Group set a $78.00 price objective on shares of Evergy and gave the company a “buy” rating in a research note on Tuesday, June 10th. Citigroup upped their target price on Evergy from $77.00 to $79.00 and gave the company a “buy” rating in a report on Friday, May 16th. Wall Street Zen lowered Evergy from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Barclays cut their price objective on Evergy from $73.00 to $71.00 and set an “overweight” rating on the stock in a research report on Friday, May 30th. Finally, UBS Group raised Evergy from a “neutral” rating to a “buy” rating and raised their target price for the company from $68.00 to $78.00 in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.19.

Evergy Stock Performance

NASDAQ:EVRG opened at $68.19 on Thursday. The company has a market capitalization of $15.69 billion, a P/E ratio of 17.94, a P/E/G ratio of 2.99 and a beta of 0.49. The business has a fifty day simple moving average of $67.19 and a two-hundred day simple moving average of $65.64. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.29. Evergy Inc. has a 1 year low of $52.10 and a 1 year high of $70.36.

Evergy (NASDAQ:EVRG) last posted 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). Evergy had a return on equity of 8.84% and a net margin of 14.87%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the company posted $0.54 EPS. On average, analysts expect that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 23rd were given a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 3.92%. The ex-dividend date was Friday, May 23rd. Evergy’s dividend payout ratio (DPR) is currently 70.26%.

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.