iSAM Funds UK Ltd acquired a new stake in Evergy Inc. (NASDAQ:EVRG – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 11,300 shares of the company’s stock, valued at approximately $977,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. MidFirst Bank acquired a new stake in shares of Evergy in the fourth quarter valued at approximately $25,000. Knuff & Co LLC acquired a new stake in Evergy during the second quarter worth approximately $30,000. Burk Holdings LLC acquired a new stake in Evergy during the second quarter worth approximately $31,000. Prosperity Bancshares Inc bought a new position in Evergy during the 4th quarter worth $32,000. Finally, Clearstead Trust LLC bought a new position in Evergy during the 2nd quarter worth $33,000. Institutional investors and hedge funds own 87.24% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. UBS Group upped their target price on Evergy from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. BMO Capital Markets increased their target price on Evergy from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Evergy in a research report on Friday, August 7th. BTIG Research set a $97.00 price target on Evergy in a research note on Thursday, July 23rd. Finally, Citigroup upped their price objective on shares of Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Evergy currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.60.
Insider Buying and Selling
In other news, EVP Charles A. Caisley sold 10,787 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $83.46, for a total value of $900,283.02. Following the completion of the transaction, the executive vice president owned 37,789 shares of the company’s stock, valued at approximately $3,153,869.94. This represents a 22.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.52% of the company’s stock.
Evergy Trading Down 0.9%
Shares of EVRG stock opened at $80.77 on Thursday. Evergy Inc. has a fifty-two week low of $70.42 and a fifty-two week high of $88.62. The stock’s fifty day moving average price is $84.39 and its two-hundred day moving average price is $83.04. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.21 and a current ratio of 0.36. The company has a market cap of $18.62 billion, a PE ratio of 20.50, a P/E/G ratio of 2.11 and a beta of 0.53.
Evergy (NASDAQ:EVRG – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. Evergy had a return on equity of 9.20% and a net margin of 15.19%.The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the firm earned $0.82 EPS. Equities analysts predict that Evergy Inc. will post 4.25 EPS for the current fiscal year.
Evergy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.695 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $2.78 annualized dividend and a yield of 3.4%. Evergy’s payout ratio is presently 70.56%.
Evergy Company Profile
Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.
The company’s business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.
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