Potomac Fund Management Inc. ADV Acquires Shares of 7,208 Evergy, Inc. (NASDAQ:EVRG)

Potomac Fund Management Inc. ADV bought a new position in shares of Evergy, Inc. (NASDAQ:EVRG) in the fourth quarter, Holdings Channel reports. The institutional investor bought 7,208 shares of the company’s stock, valued at approximately $444,000.

Other hedge funds have also recently modified their holdings of the company. FMR LLC raised its stake in Evergy by 131.4% in the 3rd quarter. FMR LLC now owns 2,004,414 shares of the company’s stock valued at $124,294,000 after purchasing an additional 1,138,138 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Evergy by 2.8% during the third quarter. Public Sector Pension Investment Board now owns 40,137 shares of the company’s stock worth $2,489,000 after buying an additional 1,100 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Evergy by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 990,173 shares of the company’s stock valued at $61,401,000 after buying an additional 16,056 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Evergy by 9,427.9% in the third quarter. Benjamin Edwards Inc. now owns 81,559 shares of the company’s stock worth $5,057,000 after buying an additional 80,703 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its position in Evergy by 12.9% during the third quarter. ArrowMark Colorado Holdings LLC now owns 237,000 shares of the company’s stock worth $14,696,000 after acquiring an additional 27,000 shares during the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Trading Up 0.1 %

EVRG opened at $69.01 on Wednesday. The stock has a market capitalization of $15.87 billion, a PE ratio of 18.65, a P/E/G ratio of 2.82 and a beta of 0.62. Evergy, Inc. has a one year low of $49.55 and a one year high of $69.93. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. The business’s 50 day moving average price is $66.48 and its 200 day moving average price is $63.46.

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

Evergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date was Monday, March 10th. Evergy’s dividend payout ratio is presently 70.45%.

Analyst Ratings Changes

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