Engineers Gate Manager LP Invests $2.02 Million in Evergy Inc. $EVRG

Engineers Gate Manager LP purchased a new position in shares of Evergy Inc. (NASDAQ:EVRG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 23,353 shares of the company’s stock, valued at approximately $2,018,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. MidFirst Bank acquired a new position in shares of Evergy in the fourth quarter valued at approximately $25,000. Knuff & Co LLC acquired a new stake in shares of Evergy during the second quarter worth $30,000. Burk Holdings LLC acquired a new stake in shares of Evergy during the second quarter worth $31,000. Clearstead Trust LLC purchased a new position in Evergy in the 2nd quarter valued at $33,000. Finally, Fiduciary Financial Advisors purchased a new position in Evergy in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 87.24% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jonathan D. Rolph purchased 1,640 shares of the company’s stock in a transaction dated Friday, September 11th. The stock was acquired at an average price of $81.47 per share, for a total transaction of $133,610.80. Following the completion of the transaction, the director directly owned 670 shares in the company, valued at $54,584.90. This represents a -169.07% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.52% of the company’s stock.

Evergy Price Performance

EVRG stock opened at $80.20 on Wednesday. The firm has a 50 day moving average of $83.38 and a 200-day moving average of $83.03. The company has a market cap of $18.49 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 2.10 and a beta of 0.53. The company has a current ratio of 0.36, a quick ratio of 0.21 and a debt-to-equity ratio of 1.20. Evergy Inc. has a 12-month low of $71.20 and a 12-month high of $88.62.

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

Evergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, August 18th will be issued a $0.695 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $2.78 annualized dividend and a yield of 3.5%. Evergy’s dividend payout ratio is 70.56%.

Analyst Ratings Changes

Several research firms have recently commented on EVRG. Citigroup raised their target price on shares of Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. BMO Capital Markets increased 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. Barclays raised their price objective on shares of Evergy from $89.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. BTIG Research set a $97.00 price objective on Evergy in a report on Thursday, July 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Evergy in a research report on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $90.60.

About Evergy

Evergy, Inc is an investor-owned electric utility that generates, transmits, distributes and sells electricity to residential, commercial, industrial and other customers. The company operates regulated utilities and provides electric service through its Kansas and Missouri subsidiaries.

Evergy serves customers across much of Kansas and in western Missouri, including the Kansas City metropolitan area. Its generation portfolio includes a mix of renewable and conventional resources, such as wind, solar, natural gas and coal, as well as an ownership interest in the Wolf Creek nuclear generating station in Kansas.

The company was formed in 2018 through the merger of Great Plains Energy Incorporated and Westar Energy, Inc Evergy is headquartered in Topeka, Kansas, with significant operations in the Kansas City region.