Geode Capital Management LLC Has $346.06 Million Position in Evergy, Inc. (NASDAQ:EVRG)

Geode Capital Management LLC raised its position in Evergy, Inc. (NASDAQ:EVRG) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,637,257 shares of the company’s stock after purchasing an additional 133,641 shares during the period. Geode Capital Management LLC’s holdings in Evergy were worth $346,063,000 as of its most recent filing with the SEC.

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

Evergy Price Performance

NASDAQ:EVRG opened at $66.18 on Friday. Evergy, Inc. has a 52-week low of $49.55 and a 52-week high of $70.30. The company has a market cap of $15.22 billion, a P/E ratio of 17.89, a P/E/G 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. The stock’s 50-day simple moving average is $66.79 and its 200 day simple moving average is $63.57.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.11). The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.24 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. As a group, sell-side analysts forecast that Evergy, Inc. will post 3.83 EPS for the current fiscal year.

Evergy Announces Dividend

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

Wall Street Analysts Forecast Growth

EVRG has been the topic of several research analyst reports. UBS Group raised their target price on shares of Evergy from $66.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Barclays boosted their price objective on shares of Evergy from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. LADENBURG THALM/SH SH upgraded Evergy to a “strong-buy” rating in a report on Monday, March 17th. Finally, Guggenheim upgraded Evergy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock 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.