Magellan Asset Management Ltd purchased a new position in Evergy Inc. (NASDAQ:EVRG - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,173,521 shares of the company's stock, valued at approximately $187,857,000. Evergy makes up 4.2% of Magellan Asset Management Ltd's holdings, making the stock its 7th biggest position. Magellan Asset Management Ltd owned approximately 0.94% of Evergy as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in EVRG. MidFirst Bank purchased a new position in Evergy during the fourth quarter valued at approximately $25,000. Knuff & Co LLC purchased a new stake in shares of Evergy in the second quarter worth $30,000. Burk Holdings LLC bought a new stake in shares of Evergy during the 2nd quarter valued at $31,000. Clearstead Trust LLC bought a new stake in shares of Evergy during the 2nd quarter valued at $33,000. Finally, Prosperity Bancshares Inc purchased a new position in shares of Evergy during the 4th quarter valued at $32,000. 87.24% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Evergy
In other Evergy news, EVP Charles A. Caisley sold 10,787 shares of Evergy stock in a transaction on 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 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 position. The sale was disclosed in a filing with the SEC, 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 business's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $83.31, for a total transaction of $63,398.91. Following the completion of the sale, the director owned 1,680 shares in the company, valued at approximately $139,960.80. This trade represents a 31.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,748 shares of company stock valued at $1,061,870 in the last quarter. 1.52% of the stock is owned by company insiders.
Evergy Stock Performance
NASDAQ:EVRG opened at $80.92 on Monday. The company has a market cap of $18.66 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 2.10 and a beta of 0.54. Evergy Inc. has a 1 year low of $70.42 and a 1 year high of $88.62. The stock's 50 day simple moving average is $84.77 and its two-hundred day simple moving average is $82.87. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.36 and a quick ratio of 0.21.
Evergy (NASDAQ:EVRG - Get Free Report) last posted its earnings results on Thursday, August 6th. 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 during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the company earned $0.82 EPS. Evergy has set its FY 2026 guidance at 4.140-4.340 EPS. As a group, equities analysts anticipate that Evergy Inc. will post 4.25 earnings per share 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 given a dividend of $0.695 per share. The ex-dividend date is Tuesday, August 18th. This represents a $2.78 annualized dividend and a yield of 3.4%. Evergy's dividend payout ratio (DPR) is 70.56%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on EVRG. Weiss Ratings reiterated a "buy (b)" rating on shares of Evergy in a research report on Friday, August 7th. BTIG Research set a $97.00 target price on shares of Evergy in a research report on Thursday, July 23rd. BMO Capital Markets raised their target price on shares of Evergy from $88.00 to $92.00 and gave the company an "outperform" rating in a research note on Wednesday, July 22nd. Citigroup boosted 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. Finally, Barclays increased their price objective on shares of Evergy from $89.00 to $94.00 and gave the company an "overweight" rating in a report on Tuesday, June 30th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $90.60.
Read Our Latest Analysis on Evergy
Evergy Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding EVRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Evergy Inc. (NASDAQ:EVRG - Free Report).
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