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

Polymer Capital Management US LLC purchased a new stake in shares of Evergy, Inc. (NASDAQ:EVRG) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 60,000 shares of the company’s stock, valued at approximately $3,693,000. Evergy comprises about 1.0% of Polymer Capital Management US LLC’s investment portfolio, making the stock its 24th biggest position.

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

Wall Street Analyst Weigh In

EVRG has been the subject of several recent research reports. Guggenheim raised Evergy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Barclays upped their price target 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 shares of Evergy to a “strong-buy” rating in a report on Monday, March 17th. Finally, UBS Group increased their price objective on Evergy from $66.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $69.08.

Evergy Price Performance

Shares of NASDAQ EVRG opened at $66.18 on Monday. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $15.22 billion, a PE ratio of 17.89, a P/E/G ratio of 2.82 and a beta of 0.52. The firm has a fifty day simple moving average of $66.79 and a 200 day simple moving average of $63.60. Evergy, Inc. has a twelve month low of $49.55 and a twelve month high of $70.30.

Evergy (NASDAQ:EVRG) last announced its 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). Evergy had a net margin of 14.77% and a return on equity of 8.77%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.24 billion. On average, sell-side analysts forecast that Evergy, Inc. will post 3.83 EPS for the current year.

Evergy Announces Dividend

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

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.