Energy Income Partners LLC Makes New Investment in Evergy Inc. $EVRG

Key Points

• Energy Income Partners LLC acquired 1.28 million Evergy shares worth approximately $110.4 million, giving it a 0.55% stake and making Evergy its 17th-largest holding. Institutional investors collectively own 87.24% of the utility.
• Analysts maintain a “Moderate Buy” consensus, with eight Buy ratings and three Holds and an average price target of $90.60, above Evergy’s reported $83.42 share price.
• Evergy exceeded quarterly expectations with adjusted EPS of $0.88 versus an $0.81 estimate and revenue of $1.50 billion. The company also declared a quarterly dividend of $0.695, equivalent to a 3.3% annualized yield.

Energy Income Partners LLC bought a new position in Evergy Inc. (NASDAQ:EVRG - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,277,260 shares of the company's stock, valued at approximately $110,394,000. Evergy accounts for 1.7% of Energy Income Partners LLC's holdings, making the stock its 17th largest holding. Energy Income Partners LLC owned approximately 0.55% of Evergy as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Brighton Jones LLC acquired a new position in Evergy during the 4th quarter worth approximately $257,000. United Services Automobile Association acquired a new stake in Evergy in the first quarter valued at approximately $223,000. Empowered Funds LLC raised its stake in shares of Evergy by 19.5% during the first quarter. Empowered Funds LLC now owns 4,648 shares of the company's stock valued at $320,000 after purchasing an additional 758 shares during the period. Woodline Partners LP raised its stake in shares of Evergy by 40.7% during the first quarter. Woodline Partners LP now owns 19,429 shares of the company's stock valued at $1,340,000 after purchasing an additional 5,618 shares during the period. Finally, Focus Partners Wealth lifted its position in shares of Evergy by 7.3% during the first quarter. Focus Partners Wealth now owns 13,791 shares of the company's stock worth $951,000 after purchasing an additional 939 shares in the last quarter. Institutional investors and hedge funds own 87.24% of the company's stock.

Wall Street Analysts Forecast Growth

EVRG has been the subject of several analyst reports. BTIG Research set a $97.00 target price on shares of Evergy in a research note on Thursday, July 23rd. Citigroup lifted their price target 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. UBS Group upped their price objective 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. BMO Capital Markets raised their target price on Evergy from $88.00 to $92.00 and gave the company an "outperform" rating in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company set a $87.00 target price on Evergy in a research report on Tuesday, April 21st. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Evergy presently has an average rating of "Moderate Buy" and an average price target of $90.60.

Insider Buying and Selling

In other Evergy news, EVP Charles A. Caisley sold 10,787 shares of the 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 sale, the executive vice president directly owned 37,789 shares of the company's stock, valued at $3,153,869.94. This trade represents a 22.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 firm's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $83.31, for a total value of $63,398.91. Following the completion of the sale, the director owned 1,680 shares in the company, valued at $139,960.80. The trade was a 31.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 12,748 shares of company stock valued at $1,061,870. 1.52% of the stock is currently owned by insiders.

Evergy Stock Down 0.6%

Shares of Evergy stock opened at $83.42 on Wednesday. The business has a 50-day moving average price of $84.81 and a 200 day moving average price of $82.74. Evergy Inc. has a fifty-two week low of $70.42 and a fifty-two week high of $88.62. The firm has a market cap of $19.23 billion, a P/E ratio of 21.17, a P/E/G ratio of 2.18 and a beta of 0.54. 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 (NASDAQ:EVRG - Get Free Report) last released its earnings results on Thursday, August 6th. 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 for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the business posted $0.82 EPS. Evergy has set its FY 2026 guidance at 4.140-4.340 EPS. On average, sell-side analysts forecast that Evergy Inc. will post 4.25 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, August 18th will be given a $0.695 dividend. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Tuesday, August 18th. Evergy's dividend payout ratio (DPR) is presently 70.56%.

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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