2,173,521 Shares in Evergy Inc. $EVRG Purchased by Magellan Asset Management Ltd

Magellan Asset Management Ltd purchased a new stake in shares of Evergy Inc. (NASDAQ:EVRG) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,173,521 shares of the company’s stock, valued at approximately $187,857,000. Evergy comprises about 4.2% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 7th largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Burk Holdings LLC bought a new stake in Evergy in the second quarter worth about $31,000. Bank of Nova Scotia purchased a new position in shares of Evergy during the second quarter valued at approximately $3,569,000. Compass Financial Management LLC bought a new position in shares of Evergy during the second quarter valued at approximately $45,000. Greenland Capital Management LP bought a new position in shares of Evergy during the second quarter valued at approximately $8,230,000. Finally, Commerce Bank purchased a new stake in shares of Evergy in the second quarter worth approximately $3,644,000. 87.24% of the stock is owned by hedge funds and other institutional investors.

Evergy Stock Performance

Shares of NASDAQ EVRG opened at $80.92 on Monday. Evergy Inc. has a 1-year low of $70.42 and a 1-year high of $88.62. The stock has a market capitalization of $18.66 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 2.10 and a beta of 0.54. 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 business has a fifty day moving average price of $84.77 and a 200 day moving average price of $82.87.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.88 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the firm earned $0.82 EPS. Evergy has set its FY 2026 guidance at 4.140-4.340 EPS. Equities research analysts expect that Evergy Inc. will post 4.25 EPS for the current fiscal year.

Evergy Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on EVRG shares. Weiss Ratings restated a “buy (b)” rating on shares of Evergy in a report on Friday, August 7th. UBS Group increased their target price on Evergy from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Barclays lifted their target price on Evergy from $89.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 30th. Citigroup upped 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. Finally, BTIG Research set a $97.00 price target on shares of Evergy in a research note on Thursday, July 23rd. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.60.

Insider Activity at Evergy

In other Evergy news, EVP Charles A. Caisley sold 10,787 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president owned 37,789 shares in the company, valued at approximately $3,153,869.94. This represents a 22.21% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 company’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 completion of the transaction, the director directly 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. In the last three months, insiders have sold 12,748 shares of company stock worth $1,061,870. 1.52% of the stock is owned by insiders.

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.