Tidal Investments LLC Acquires 66,593 Shares of Evergy Inc. $EVRG

Tidal Investments LLC grew its holdings in Evergy Inc. (NASDAQ:EVRG) by 95.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 136,137 shares of the company’s stock after acquiring an additional 66,593 shares during the period. Tidal Investments LLC’s holdings in Evergy were worth $11,766,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. MidFirst Bank purchased a new position in shares of Evergy during the fourth quarter valued at approximately $25,000. Knuff & Co LLC purchased a new stake in Evergy in the second quarter worth $30,000. Burk Holdings LLC purchased a new stake in Evergy in the second quarter worth $31,000. Clearstead Trust LLC bought a new stake in Evergy in the second quarter valued at $33,000. Finally, Fiduciary Financial Advisors purchased a new position in Evergy during the 2nd quarter valued at $34,000. 87.24% of the stock is currently owned by institutional investors.

Evergy Price Performance

EVRG opened at $81.62 on Friday. The stock has a fifty day simple moving average of $83.63 and a two-hundred day simple moving average of $83.05. The company has a current ratio of 0.36, a quick ratio of 0.21 and a debt-to-equity ratio of 1.20. The company has a market cap of $18.82 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 2.11 and a beta of 0.53. Evergy Inc. has a 12-month low of $71.20 and a 12-month 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 analysts’ consensus estimates of $0.81 by $0.07. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Evergy had a net margin of 15.19% and a return on equity of 9.20%. During the same quarter in the previous year, the business posted $0.82 EPS. Research analysts predict that Evergy Inc. will post 4.25 earnings per share for the current fiscal year.

Evergy Dividend Announcement

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

Insider Buying and Selling

In other Evergy news, EVP Charles Caisley sold 10,787 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $83.46, for a total value of $900,283.02. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.52% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. BTIG Research set a $97.00 price objective on shares of Evergy in a report on Thursday, July 23rd. Barclays boosted their price target 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. Weiss Ratings reissued a “buy (b)” rating on shares of Evergy in a research note on Friday, August 7th. BMO Capital Markets raised their price objective on shares of Evergy from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. Finally, Citigroup lifted their price objective on Evergy from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.60.

Evergy Profile

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.