90,730 Shares in Evergy Inc. $EVRG Purchased by Sit Investment Associates Inc.

Key Points

• Sit Investment Associates opened a new position in Evergy, buying 90,730 shares valued at about $6.6 million in the fourth quarter.
• Evergy posted better-than-expected quarterly results, with EPS of $0.69 versus the $0.63 estimate and revenue of $1.44 billion, up 5% year over year.
• The utility continues to pay a solid dividend, recently distributing $0.695 per share for a 3.4% yield, while analysts remain generally positive with a Moderate Buy rating and an average price target of $89.60.

Sit Investment Associates Inc. purchased a new position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 90,730 shares of the company's stock, valued at approximately $6,577,000.

Several other hedge funds also recently modified their holdings of EVRG. Adage Capital Partners GP L.L.C. grew its stake in Evergy by 476.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,207,882 shares of the company's stock valued at $87,559,000 after purchasing an additional 998,400 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in shares of Evergy in the third quarter valued at $72,860,000. Freestone Grove Partners LP grew its stake in Evergy by 321.1% in the 4th quarter. Freestone Grove Partners LP now owns 854,739 shares of the company's stock valued at $61,960,000 after buying an additional 651,738 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Evergy by 122.4% in the fourth quarter. Renaissance Technologies LLC now owns 811,202 shares of the company's stock valued at $58,804,000 after purchasing an additional 446,400 shares during the last quarter. Finally, BROOKFIELD Corp ON acquired a new position in Evergy in the 2nd quarter valued at $29,644,000. Institutional investors own 87.24% of the company's stock.

Evergy Price Performance

Shares of NASDAQ:EVRG opened at $82.50 on Friday. The company has a market capitalization of $19.02 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.14 and a beta of 0.54. The business has a fifty day moving average price of $82.39 and a two-hundred day moving average price of $79.42. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.45 and a quick ratio of 0.24. Evergy Inc. has a 1 year low of $66.89 and a 1 year high of $85.27.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.63 by $0.06. Evergy had a net margin of 14.63% and a return on equity of 9.09%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the firm posted $0.54 earnings per share. The company's revenue for the quarter was up 5.0% on a year-over-year basis. Evergy has set its FY 2026 guidance at 4.140-4.340 EPS. Analysts forecast that Evergy Inc. will post 4.25 earnings per share for the current year.

Evergy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, May 22nd were paid a dividend of $0.695 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.78 annualized dividend and a dividend yield of 3.4%. Evergy's dividend payout ratio is presently 73.74%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on EVRG shares. Weiss Ratings upgraded Evergy from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 11th. Mizuho set a $82.00 price target on shares of Evergy in a research report on Monday, February 23rd. Barclays raised their price objective on shares of Evergy from $82.00 to $89.00 and gave the stock an "overweight" rating in a research report on Monday, March 9th. BMO Capital Markets raised their target price on Evergy from $82.00 to $87.00 and gave the company an "outperform" rating in a research note on Monday, February 23rd. Finally, UBS Group lifted their price target on shares of Evergy from $88.00 to $91.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Evergy has an average rating of "Moderate Buy" and an average target price of $89.60.

Insider Activity

In other news, EVP Charles A. Caisley sold 10,787 shares of Evergy stock in a transaction on Monday, June 15th. The stock was 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 directly owned 37,789 shares in the company, valued at approximately $3,153,869.94. The trade was a 22.21% decrease in their ownership of the stock. The sale was disclosed in a document filed 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. Also, Director Sandra Aj Lawrence sold 761 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $83.31, for a total transaction of $63,398.91. Following the transaction, the director directly owned 1,680 shares of the company's stock, valued at approximately $139,960.80. This represents a 31.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,748 shares of company stock valued at $1,061,870 in the last quarter. Corporate insiders own 1.52% of the company's stock.

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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