Potomac Fund Management Inc. ADV Invests $444,000 in Evergy, Inc. (NASDAQ:EVRG)

Potomac Fund Management Inc. ADV acquired a new stake in shares of Evergy, Inc. (NASDAQ:EVRG) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 7,208 shares of the company’s stock, valued at approximately $444,000.

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

Evergy Price Performance

Shares of NASDAQ EVRG opened at $69.01 on Wednesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32. The stock has a market capitalization of $15.87 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 2.82 and a beta of 0.62. The firm’s 50 day simple moving average is $66.48 and its 200-day simple moving average is $63.46. Evergy, Inc. has a 12 month low of $49.55 and a 12 month high of $69.93.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings results 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). Evergy had a return on equity of 8.77% and a net margin of 14.77%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Analysts expect that Evergy, Inc. will post 3.83 EPS for the current year.

Evergy Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on EVRG shares. LADENBURG THALM/SH SH upgraded Evergy to a “strong-buy” rating in a research note on Monday, March 17th. Guggenheim upgraded shares of Evergy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. UBS Group raised their price target on shares of Evergy from $66.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Finally, 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. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target 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.