37,689 Shares in Evergy Inc. $EVRG Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. acquired a new position in Evergy Inc. (NASDAQ:EVRG) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 37,689 shares of the company’s stock, valued at approximately $3,279,000.

Several other large investors have also recently made changes to their positions in EVRG. Magellan Asset Management Ltd bought a new stake in shares of Evergy during the 2nd quarter worth $187,857,000. Legal & General Group Plc bought a new position in Evergy during the second quarter valued at about $138,233,000. Energy Income Partners LLC bought a new position in Evergy during the second quarter valued at about $110,394,000. Adage Capital Partners GP L.L.C. increased its holdings in Evergy by 476.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,207,882 shares of the company’s stock worth $87,559,000 after buying an additional 998,400 shares during the last quarter. Finally, Freestone Grove Partners LP increased its holdings in Evergy by 321.1% during the fourth 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 last quarter. 87.24% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Charles A. Caisley sold 10,787 shares of Evergy stock in a transaction on Monday, June 15th. The stock was 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 in the company, valued at approximately $3,153,869.94. The trade was a 22.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sandra Aj Lawrence sold 600 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $81.41, for a total value of $48,846.00. Following the sale, the director owned 680 shares in the company, valued at approximately $55,358.80. The trade was a 46.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,587 shares of company stock valued at $965,655 over the last ninety days. Corporate insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on EVRG shares. BMO Capital Markets boosted 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. BTIG Research set a $97.00 price target on shares of Evergy in a research note on Thursday, July 23rd. Citigroup lifted their price target on shares of Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Friday, July 24th. UBS Group upped their price objective on Evergy from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Evergy in a report on Friday, August 7th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Evergy currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.60.

Evergy Price Performance

EVRG opened at $80.65 on Monday. The firm has a 50-day moving average price of $84.61 and a 200-day moving average price of $83.01. Evergy Inc. has a twelve month low of $70.42 and a twelve month high of $88.62. The company has a quick ratio of 0.21, a current ratio of 0.36 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $18.60 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 2.09 and a beta of 0.54.

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

Evergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, August 18th will be issued 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 (DPR) is presently 70.56%.

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.