Edgemoor Investment Advisors Inc. Has $4.81 Million Stock Position in Evergy, Inc. (NASDAQ:EVRG)

Edgemoor Investment Advisors Inc. raised its stake in Evergy, Inc. (NASDAQ:EVRG) by 18.0% in the 4th quarter, HoldingsChannel reports. The fund owned 78,075 shares of the company’s stock after buying an additional 11,893 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in Evergy were worth $4,806,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its stake in Evergy by 17.9% during the 4th quarter. Parallel Advisors LLC now owns 9,111 shares of the company’s stock worth $561,000 after acquiring an additional 1,385 shares during the last quarter. Cibc World Markets Corp raised its holdings in shares of Evergy by 16.1% in the fourth quarter. Cibc World Markets Corp now owns 36,272 shares of the company’s stock valued at $2,233,000 after purchasing an additional 5,019 shares during the last quarter. Corient Private Wealth LLC increased its holdings in Evergy by 2.6% during the fourth quarter. Corient Private Wealth LLC now owns 44,915 shares of the company’s stock worth $2,765,000 after buying an additional 1,131 shares during the last quarter. Natixis Advisors LLC increased its holdings in Evergy by 3.5% during the fourth quarter. Natixis Advisors LLC now owns 88,829 shares of the company’s stock worth $5,467,000 after buying an additional 2,974 shares during the last quarter. Finally, Brandes Investment Partners LP acquired a new position in Evergy during the fourth quarter worth $55,652,000. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Price Performance

EVRG opened at $67.45 on Monday. 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 52-week low of $49.55 and a 52-week high of $69.93. The stock has a market capitalization of $15.51 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 2.82 and a beta of 0.62. The stock’s 50 day moving average price is $65.02 and its 200-day moving average price is $62.81.

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

Evergy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a $0.6675 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.67 annualized dividend and a yield of 3.96%. Evergy’s payout ratio is 70.45%.

Wall Street Analyst Weigh In

EVRG has been the topic of several research reports. Barclays upped their price objective on shares of Evergy from $62.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, March 7th. LADENBURG THALM/SH SH upgraded Evergy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $59.00 to $68.50 in a report on Thursday, January 2nd. 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 and seven have issued a buy rating to the stock. Based on data from MarketBeat, Evergy has an average rating of “Moderate Buy” and a consensus target price of $68.42.

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.