Edgestream Partners L.P. Has $15.10 Million Stock Holdings in Evergy Inc. $EVRG

Edgestream Partners L.P. increased its stake in shares of Evergy Inc. (NASDAQ:EVRG) by 15.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 184,292 shares of the company’s stock after buying an additional 25,065 shares during the quarter. Evergy makes up about 0.5% of Edgestream Partners L.P.’s portfolio, making the stock its 5th largest position. Edgestream Partners L.P.’s holdings in Evergy were worth $15,097,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. boosted its stake in Evergy by 476.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,207,882 shares of the company’s stock valued at $87,559,000 after acquiring an additional 998,400 shares during the last quarter. Freestone Grove Partners LP grew its position in shares of Evergy by 321.1% during the 4th quarter. Freestone Grove Partners LP now owns 854,739 shares of the company’s stock valued at $61,960,000 after acquiring an additional 651,738 shares during the period. Renaissance Technologies LLC increased its stake in shares of Evergy by 122.4% during the 4th quarter. Renaissance Technologies LLC now owns 811,202 shares of the company’s stock worth $58,804,000 after purchasing an additional 446,400 shares during the last quarter. BROOKFIELD Corp ON purchased a new stake in shares of Evergy during the 2nd quarter worth approximately $29,644,000. Finally, Zimmer Partners LP raised its holdings in shares of Evergy by 147.8% in the 4th quarter. Zimmer Partners LP now owns 137,500 shares of the company’s stock worth $9,967,000 after purchasing an additional 425,000 shares during the period. Institutional investors own 87.24% of the company’s stock.

Insiders Place Their Bets

In related news, Director Sandra Aj Lawrence sold 761 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $83.31, for a total transaction of $63,398.91. Following the sale, the director directly owned 1,680 shares in the company, valued at approximately $139,960.80. The trade was a 31.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Charles A. Caisley sold 10,787 shares of the stock in a transaction dated 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 in the company, valued at $3,153,869.94. This trade represents a 22.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 12,748 shares of company stock valued at $1,061,870 over the last ninety days. Corporate insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

EVRG has been the topic of several research analyst reports. Wells Fargo & Company set a $87.00 price objective on Evergy in a research note on Tuesday, April 21st. Weiss Ratings raised Evergy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Bank of America decreased their target price on Evergy from $89.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. UBS Group boosted their target price on Evergy from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Finally, Barclays upped their price target on Evergy from $89.00 to $94.00 and gave the company an “overweight” rating in a research 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.60.

Evergy Stock Performance

NASDAQ EVRG opened at $84.00 on Thursday. The firm has a market cap of $19.36 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 2.22 and a beta of 0.54. The company has a quick ratio of 0.24, a current ratio of 0.45 and a debt-to-equity ratio of 1.29. The company’s 50 day moving average is $84.64 and its 200-day moving average is $81.99. Evergy Inc. has a 12-month low of $69.54 and a 12-month high of $88.62.

Evergy (NASDAQ:EVRG) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.69 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the firm earned $0.54 EPS. Evergy’s revenue for the quarter was up 5.0% on a year-over-year basis. Sell-side analysts predict that Evergy Inc. will post 4.25 earnings per share for the current year.

Evergy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, May 22nd were issued 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 of this dividend was Friday, May 22nd. Evergy’s dividend payout ratio (DPR) is presently 73.74%.

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.