Magellan Asset Management Ltd Has $174.65 Million Holdings in Evergy Inc. $EVRG

Magellan Asset Management Ltd lessened its holdings in Evergy Inc. (NASDAQ:EVRG) by 1.4% in the 4th quarter, Holdings Channel reports. The firm owned 2,409,310 shares of the company’s stock after selling 35,071 shares during the quarter. Evergy accounts for 2.1% of Magellan Asset Management Ltd’s portfolio, making the stock its 18th biggest holding. Magellan Asset Management Ltd’s holdings in Evergy were worth $174,651,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its position in Evergy by 0.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 24,981 shares of the company’s stock worth $1,826,000 after acquiring an additional 140 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in Evergy by 0.3% during the 3rd quarter. Moneta Group Investment Advisors LLC now owns 46,972 shares of the company’s stock worth $3,571,000 after acquiring an additional 145 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in Evergy by 17.7% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 979 shares of the company’s stock worth $74,000 after acquiring an additional 147 shares during the last quarter. Modern Wealth Management LLC lifted its position in Evergy by 1.9% during the 3rd quarter. Modern Wealth Management LLC now owns 7,926 shares of the company’s stock worth $603,000 after acquiring an additional 148 shares during the last quarter. Finally, Composition Wealth LLC lifted its position in Evergy by 3.9% during the 4th quarter. Composition Wealth LLC now owns 3,920 shares of the company’s stock worth $284,000 after acquiring an additional 148 shares during the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EVRG. BMO Capital Markets boosted their target price on shares of Evergy from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Monday, February 23rd. UBS Group boosted their target price on shares of Evergy from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. BTIG Research began coverage on shares of Evergy in a research report on Thursday, April 9th. They set a “buy” rating and a $99.00 target price for the company. Citigroup boosted their target price on shares of Evergy from $89.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, Barclays boosted their target price on shares of Evergy from $82.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, March 9th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Evergy has an average rating of “Moderate Buy” and a consensus target price of $89.60.

Insider Activity

In other news, SVP Charles L. King sold 2,440 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $82.19, for a total transaction of $200,543.60. Following the completion of the transaction, the senior vice president owned 18,359 shares of the company’s stock, valued at approximately $1,508,926.21. This represents a 11.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sandra Aj Lawrence sold 761 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $83.31, for a total transaction of $63,398.91. Following the completion of 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 8,051 shares of company stock valued at $663,657. Insiders own 1.52% of the company’s stock.

Evergy Stock Up 1.0%

Shares of EVRG opened at $81.89 on Friday. The company has a 50-day simple moving average of $82.19 and a 200-day simple moving average of $78.95. The firm has a market capitalization of $18.88 billion, a P/E ratio of 21.72, a P/E/G ratio of 2.10 and a beta of 0.54. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.24 and a current ratio of 0.45. Evergy Inc. has a 52 week low of $64.70 and a 52 week high of $85.27.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.27 billion. Evergy had a net margin of 14.63% and a return on equity of 9.09%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. Evergy has set its FY 2026 guidance at 4.140-4.340 EPS. On average, equities research analysts expect that Evergy Inc. will post 4.25 earnings per share for the current year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, May 22nd will be given a dividend of $0.695 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.4%. Evergy’s dividend payout ratio is currently 73.74%.

Evergy Company 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.