Evergy Inc. $EVRG Shares Purchased by Magellan Asset Management Ltd

Magellan Asset Management Ltd grew its holdings in shares of Evergy Inc. (NASDAQ:EVRG) by 1,418.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,364,493 shares of the company’s stock after buying an additional 2,208,799 shares during the quarter. Evergy accounts for 1.9% of Magellan Asset Management Ltd’s portfolio, making the stock its 21st largest position. Magellan Asset Management Ltd owned about 1.03% of Evergy worth $162,985,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EVRG. Amundi grew its stake in Evergy by 14.2% during the 1st quarter. Amundi now owns 140,301 shares of the company’s stock valued at $9,710,000 after purchasing an additional 17,477 shares in the last quarter. Northern Trust Corp grew its position in shares of Evergy by 16.7% during the first quarter. Northern Trust Corp now owns 2,737,480 shares of the company’s stock worth $188,749,000 after buying an additional 392,361 shares in the last quarter. Integrity Alliance LLC. acquired a new stake in Evergy in the first quarter valued at $319,000. Simplicity Wealth LLC acquired a new stake in Evergy in the second quarter valued at $778,000. Finally, Callan Family Office LLC acquired a new stake in Evergy during the second quarter valued at approximately $413,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Evergy Trading Up 0.0%

Shares of Evergy stock opened at $75.59 on Friday. The company’s fifty day simple moving average is $75.18 and its 200-day simple moving average is $71.05. Evergy Inc. has a 1 year low of $59.67 and a 1 year high of $79.32. The company has a current ratio of 0.50, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. The company has a market cap of $17.40 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 3.56 and a beta of 0.61.

Evergy (NASDAQ:EVRG) last released its earnings results on Thursday, November 6th. The company reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.11). Evergy had a net margin of 14.29% and a return on equity of 8.62%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the business posted $2.02 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. Evergy has set its FY 2025 guidance at 3.920-4.020 EPS. As a group, sell-side analysts expect that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, November 21st will be given a $0.695 dividend. This represents a $2.78 annualized dividend and a yield of 3.7%. This is a boost from Evergy’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 21st. Evergy’s dividend payout ratio (DPR) is currently 73.35%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Evergy in a report on Wednesday, October 8th. Jefferies Financial Group upped their price objective on Evergy from $77.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Royal Bank Of Canada raised Evergy to a “moderate buy” rating in a research report on Tuesday, October 28th. Barclays reissued an “outperform” rating on shares of Evergy in a research note on Thursday, October 9th. Finally, Wells Fargo & Company upgraded shares of Evergy to a “hold” rating in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $79.61.

Insiders Place Their Bets

In other news, SVP Lesley Lissette Elwell sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $72.33, for a total value of $578,640.00. Following the sale, the senior vice president directly owned 499 shares in the company, valued at approximately $36,092.67. This represents a 94.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.42% of the company’s stock.

Evergy Company Profile

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in the United States. The company generates electricity through coal, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources. It serves residences, commercial firms, industrials, municipalities, and other electric utilities.