USA Financial Formulas Invests $73,000 in Evergy, Inc. (NASDAQ:EVRG)

USA Financial Formulas bought a new position in Evergy, Inc. (NASDAQ:EVRG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,190 shares of the company’s stock, valued at approximately $73,000.

A number of other institutional investors have also modified their holdings of EVRG. Franklin Resources Inc. increased its holdings in Evergy by 5.5% in the third quarter. Franklin Resources Inc. now owns 5,532,719 shares of the company’s stock valued at $330,469,000 after buying an additional 288,619 shares during the last quarter. Millennium Management LLC grew its position in shares of Evergy by 38.6% in the 2nd quarter. Millennium Management LLC now owns 3,683,000 shares of the company’s stock worth $195,089,000 after acquiring an additional 1,026,374 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Evergy by 25.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,848,735 shares of the company’s stock valued at $176,650,000 after acquiring an additional 583,923 shares during the last quarter. Pathway Financial Advisers LLC raised its position in shares of Evergy by 6,854.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,539,001 shares of the company’s stock valued at $157,443,000 after acquiring an additional 2,502,493 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Evergy by 42.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,135,011 shares of the company’s stock worth $132,392,000 after purchasing an additional 634,735 shares during the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Stock Performance

EVRG stock opened at $62.93 on Friday. The firm has a 50 day simple moving average of $62.45 and a 200 day simple moving average of $60.09. Evergy, Inc. has a 52 week low of $48.04 and a 52 week high of $65.47. The stock has a market cap of $14.47 billion, a P/E ratio of 17.01, a P/E/G ratio of 2.62 and a beta of 0.64. 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 issued its earnings results on Thursday, November 7th. The company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.07. Evergy had a net margin of 14.77% and a return on equity of 8.77%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the business posted $1.88 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Research analysts anticipate that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Thursday, November 21st were given a $0.6675 dividend. This is a positive change from Evergy’s previous quarterly dividend of $0.64. This represents a $2.67 annualized dividend and a yield of 4.24%. The ex-dividend date was Thursday, November 21st. Evergy’s dividend payout ratio is presently 72.16%.

Analysts Set New Price Targets

Several research firms have recently commented on EVRG. Wells Fargo & Company lifted their price target on shares of Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Mizuho assumed coverage on Evergy in a report on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 price objective for the company. Jefferies Financial Group started coverage on Evergy in a research report on Thursday, September 19th. They set a “buy” rating and a $70.00 price objective for the company. Barclays dropped their price target on Evergy from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Finally, LADENBURG THALM/SH SH raised shares of Evergy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $59.00 to $68.50 in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $64.06.

Insider Transactions at Evergy

In related news, EVP Kevin E. Bryant sold 48,141 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total value of $3,029,513.13. Following the transaction, the executive vice president now owns 1 shares in the company, valued at approximately $62.93. This represents a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.26% of the company’s stock.

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.