Canada Pension Plan Investment Board Takes $12.79 Million Position in Evergy Inc. $EVRG

Key Points

• Canada Pension Plan Investment Board acquired 147,998 Evergy shares worth approximately $12.79 million, giving it a 0.06% stake. Institutional investors collectively own 87.24% of the utility’s stock.
• Evergy beat quarterly expectations, reporting $0.88 in EPS versus the $0.81 consensus and revenue of $1.50 billion versus $1.36 billion expected. Analysts maintain a “Moderate Buy” consensus with an average price target of $90.60.
• Evergy declared a quarterly dividend of $0.695 per share, equivalent to an annualized $2.78 payout and a 3.4% yield. The stock recently opened at $80.65, below its $90.60 analyst consensus target.

Canada Pension Plan Investment Board acquired a new position in Evergy Inc. (NASDAQ:EVRG - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 147,998 shares of the company's stock, valued at approximately $12,791,000. Canada Pension Plan Investment Board owned 0.06% of Evergy at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in Evergy by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 6,447,150 shares of the company's stock valued at $465,684,000 after purchasing an additional 105,842 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Evergy by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 6,091,518 shares of the company's stock valued at $441,574,000 after buying an additional 33,457 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Evergy by 1.6% during the 4th quarter. Federated Hermes Inc. now owns 3,760,548 shares of the company's stock valued at $272,602,000 after buying an additional 57,814 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Evergy by 10.6% in the 3rd quarter. Northern Trust Corp now owns 2,760,494 shares of the company's stock valued at $209,853,000 after buying an additional 263,619 shares during the period. Finally, Magellan Asset Management Ltd acquired a new position in shares of Evergy in the 2nd quarter valued at about $187,857,000. Hedge funds and other institutional investors own 87.24% of the company's stock.

Evergy Trading Down 0.9%

EVRG stock opened at $80.65 on Friday. The company's 50-day simple moving average is $84.61 and its 200-day simple moving average is $82.97. The company has a quick ratio of 0.21, a current ratio of 0.36 and a debt-to-equity ratio of 1.20. Evergy Inc. has a 52-week low of $70.42 and a 52-week high of $88.62. The firm has a market cap of $18.60 billion, a P/E ratio of 20.47, a PEG ratio of 2.09 and a beta of 0.54.

Evergy (NASDAQ:EVRG - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.88 EPS for the quarter, beating 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 firm had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same period last year, the firm earned $0.82 EPS. As a group, equities analysts forecast that Evergy Inc. will post 4.25 EPS for the current fiscal year.

Evergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, August 18th will be issued a $0.695 dividend. This represents a $2.78 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Evergy's dividend payout ratio (DPR) is presently 70.56%.

Analysts Set New Price Targets

Several analysts recently commented on EVRG shares. BTIG Research set a $97.00 target price on Evergy in a report on Thursday, July 23rd. Barclays boosted their price target on Evergy from $89.00 to $94.00 and gave the company an "overweight" rating in a report on Tuesday, June 30th. BMO Capital Markets upped their price objective on Evergy from $88.00 to $92.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 22nd. Citigroup raised their price objective on shares of Evergy from $95.00 to $97.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Finally, UBS Group lifted their target price on shares of Evergy from $88.00 to $91.00 and gave the company a "neutral" rating in a report on Friday, May 8th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $90.60.

Insider Activity at Evergy

In other news, EVP Charles A. Caisley sold 10,787 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $83.46, for a total transaction of $900,283.02. Following the transaction, the executive vice president owned 37,789 shares in the company, valued at $3,153,869.94. This trade represents a 22.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 600 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $81.41, for a total value of $48,846.00. Following the transaction, the director owned 680 shares in the company, valued at $55,358.80. This trade represents a 46.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 11,587 shares of company stock worth $965,655. 1.52% of the stock is owned by corporate insiders.

Evergy 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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