Polymer Capital Management US LLC Makes New $3.69 Million Investment in Evergy, Inc. (NASDAQ:EVRG)

Polymer Capital Management US LLC acquired a new stake in shares of Evergy, Inc. (NASDAQ:EVRG) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 60,000 shares of the company’s stock, valued at approximately $3,693,000. Evergy makes up about 1.0% of Polymer Capital Management US LLC’s portfolio, making the stock its 24th largest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Lee Danner & Bass Inc. acquired a new position in Evergy during the 4th quarter valued at about $26,000. National Pension Service purchased a new stake in shares of Evergy in the fourth quarter worth approximately $30,000. Bank of Jackson Hole Trust bought a new position in shares of Evergy in the fourth quarter valued at approximately $31,000. Sandy Spring Bank boosted its position in shares of Evergy by 5,983.3% during the fourth quarter. Sandy Spring Bank now owns 730 shares of the company’s stock valued at $45,000 after buying an additional 718 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Evergy during the fourth quarter worth $49,000. 87.24% of the stock is owned by institutional investors.

Evergy Price Performance

EVRG opened at $66.18 on Monday. The firm has a market cap of $15.22 billion, a P/E ratio of 17.89, a PEG ratio of 2.82 and a beta of 0.52. 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, Inc. has a fifty-two week low of $49.55 and a fifty-two week high of $70.30. The firm has a 50-day moving average of $66.79 and a 200 day moving average of $63.60.

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

Evergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a $0.6675 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.67 annualized dividend and a dividend yield of 4.03%. Evergy’s payout ratio is presently 70.45%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Barclays raised their price objective on Evergy from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. LADENBURG THALM/SH SH raised shares of Evergy to a “strong-buy” rating in a research report on Monday, March 17th. Guggenheim raised shares of Evergy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, 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 research note on Friday, March 21st. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $69.08.

About Evergy

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.