Edgestream Partners L.P. Grows Stake in Evergy Inc. $EVRG

Key Points

• Edgestream Partners increased its Evergy stake by 15.7% in the first quarter, bringing its holdings to 184,292 shares valued at approximately $15.1 million. Institutional investors and hedge funds collectively own 87.24% of Evergy.
• Wall Street maintains a positive outlook, with eight analysts rating Evergy a Buy and three assigning a Hold rating. The stock has a “Moderate Buy” consensus and an average price target of $90.60, above its reported $84.00 opening price.
• Evergy exceeded first-quarter earnings and revenue expectations, reporting $0.69 in adjusted earnings per share and $1.44 billion in revenue. The company also pays a quarterly dividend of $0.695, equivalent to a 3.3% annualized yield.

Edgestream Partners L.P. lifted its stake in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 15.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,292 shares of the company's stock after purchasing an additional 25,065 shares during the quarter. Evergy comprises 0.5% of Edgestream Partners L.P.'s investment portfolio, making the stock its 5th biggest holding. Edgestream Partners L.P. owned about 0.08% of Evergy worth $15,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in EVRG. Cullen Frost Bankers Inc. increased its stake in Evergy by 4.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 316,511 shares of the company's stock valued at $22,944,000 after purchasing an additional 14,907 shares in the last quarter. Vestcor Inc lifted its stake in shares of Evergy by 49.6% in the fourth quarter. Vestcor Inc now owns 174,330 shares of the company's stock valued at $12,637,000 after buying an additional 57,795 shares in the last quarter. Qsemble Capital Management LP lifted its stake in shares of Evergy by 295.4% in the fourth quarter. Qsemble Capital Management LP now owns 105,780 shares of the company's stock valued at $7,668,000 after buying an additional 79,029 shares in the last quarter. Fulcrum Asset Management LLP grew its holdings in shares of Evergy by 119.1% during the fourth quarter. Fulcrum Asset Management LLP now owns 43,867 shares of the company's stock valued at $3,180,000 after buying an additional 23,842 shares during the last quarter. Finally, RIA Advisory Group LLC acquired a new position in shares of Evergy during the fourth quarter valued at about $967,000. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EVRG has been the subject of several recent research reports. Wells Fargo & Company set a $87.00 target price on shares of Evergy in a research report on Tuesday, April 21st. Barclays raised their price target on shares of Evergy from $89.00 to $94.00 and gave the company an "overweight" rating in a research report on Tuesday, June 30th. Weiss Ratings upgraded Evergy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 11th. BMO Capital Markets boosted their price objective on Evergy from $88.00 to $92.00 and gave the stock an "outperform" rating in a report on Wednesday, July 22nd. Finally, Bank of America lowered their price objective on Evergy from $89.00 to $88.00 and set a "buy" rating for the company in a research note on Tuesday, April 14th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $90.60.

Evergy Stock Performance

NASDAQ EVRG opened at $84.00 on Thursday. Evergy Inc. has a 1 year low of $69.54 and a 1 year high of $88.62. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.45 and a quick ratio of 0.24. The firm has a market cap of $19.36 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 2.22 and a beta of 0.54. The company has a fifty day moving average price of $84.64 and a 200-day moving average price of $81.99.

Evergy (NASDAQ:EVRG - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.06. Evergy had a net margin of 14.63% and a return on equity of 9.09%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the firm earned $0.54 earnings per share. The firm's revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts predict that Evergy Inc. will post 4.25 EPS for the current fiscal year.

Evergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, May 22nd were paid a $0.695 dividend. The ex-dividend date was Friday, May 22nd. This represents a $2.78 annualized dividend and a yield of 3.3%. Evergy's dividend payout ratio (DPR) is 73.74%.

Insider Activity at Evergy

In other news, EVP Charles A. Caisley sold 10,787 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president owned 37,789 shares in the company, valued at $3,153,869.94. The trade was a 22.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 stock was sold at an average price of $83.31, for a total value of $63,398.91. Following the completion of the transaction, the director owned 1,680 shares in the company, valued at $139,960.80. The trade was a 31.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 12,748 shares of company stock worth $1,061,870. Insiders own 1.52% of the company's stock.

About Evergy

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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