iSAM Funds UK Ltd Invests $977,000 in Evergy Inc. $EVRG

iSAM Funds UK Ltd purchased a new position in shares of Evergy Inc. (NASDAQ:EVRG) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,300 shares of the company’s stock, valued at approximately $977,000.

A number of other large investors also recently modified their holdings of EVRG. Magellan Asset Management Ltd bought a new stake in Evergy during the 2nd quarter worth $187,857,000. Legal & General Group Plc acquired a new position in Evergy in the 2nd quarter worth about $138,233,000. Energy Income Partners LLC acquired a new stake in shares of Evergy during the second quarter valued at about $110,394,000. Adage Capital Partners GP L.L.C. increased its stake in shares of 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 buying an additional 998,400 shares during the period. Finally, Freestone Grove Partners LP boosted its position in Evergy by 321.1% during the 4th quarter. Freestone Grove Partners LP now owns 854,739 shares of the company’s stock worth $61,960,000 after buying an additional 651,738 shares during the period. 87.24% of the stock is currently owned by institutional investors.

Evergy Price Performance

Evergy stock opened at $80.77 on Thursday. The stock’s 50 day moving average is $84.39 and its 200 day moving average is $83.04. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.36 and a quick ratio of 0.21. The firm has a market cap of $18.62 billion, a P/E ratio of 20.50, a P/E/G ratio of 2.11 and a beta of 0.53. Evergy Inc. has a one year low of $70.42 and a one year high of $88.62.

Evergy (NASDAQ:EVRG) last announced its earnings results on Wednesday, August 5th. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.81 by $0.07. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Evergy had a return on equity of 9.20% and a net margin of 15.19%.During the same period in the prior year, the business posted $0.82 earnings per share. As a group, research analysts expect that Evergy Inc. will post 4.25 EPS for the current year.

Evergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, August 18th will be paid a $0.695 dividend. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Evergy’s dividend payout ratio is currently 70.56%.

Analyst Ratings Changes

EVRG has been the topic of a number of research reports. Citigroup boosted their target price on shares of Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Friday, July 24th. 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 note on Tuesday, June 30th. BMO Capital Markets lifted their price target on shares of Evergy from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. BTIG Research set a $97.00 price objective on shares of Evergy in a research note on Thursday, July 23rd. Finally, UBS Group increased their price objective on Evergy from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.60.

Insider Activity at Evergy

In other news, EVP Charles A. Caisley sold 10,787 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $83.46, for a total transaction of $900,283.02. Following the completion of the sale, the executive vice president directly owned 37,789 shares in the company, valued at $3,153,869.94. This represents a 22.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.52% of the company’s stock.

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.