Magellan Asset Management Ltd Buys 79,888 Shares of Evergy Inc. $EVRG

Magellan Asset Management Ltd grew its stake in shares of Evergy Inc. (NASDAQ:EVRG) by 3.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,444,381 shares of the company’s stock after acquiring an additional 79,888 shares during the period. Evergy comprises approximately 2.2% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 18th biggest holding. Magellan Asset Management Ltd owned approximately 1.06% of Evergy worth $185,822,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of EVRG. Cary Street Partners Investment Advisory LLC increased its holdings in Evergy by 17.7% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 979 shares of the company’s stock valued at $74,000 after buying an additional 147 shares during the period. FAS Wealth Partners Inc. boosted its position in Evergy by 2.4% during the 2nd quarter. FAS Wealth Partners Inc. now owns 6,413 shares of the company’s stock valued at $442,000 after acquiring an additional 150 shares in the last quarter. Bfsg LLC boosted its position in Evergy by 22.9% during the 3rd quarter. Bfsg LLC now owns 817 shares of the company’s stock valued at $62,000 after acquiring an additional 152 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Evergy by 24.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 849 shares of the company’s stock valued at $59,000 after acquiring an additional 167 shares during the period. Finally, NorthCrest Asset Manangement LLC raised its position in shares of Evergy by 2.9% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 6,076 shares of the company’s stock worth $472,000 after acquiring an additional 170 shares in the last quarter. Institutional investors own 87.24% of the company’s stock.

Wall Street Analyst Weigh In

EVRG has been the topic of a number of recent research reports. BMO Capital Markets raised their price objective on Evergy from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Monday. Barclays raised their price target on shares of Evergy from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, January 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Evergy in a research report on Monday, December 29th. Royal Bank Of Canada reissued an “outperform” rating and set a $91.00 target price on shares of Evergy in a research report on Friday, January 23rd. Finally, Wall Street Zen upgraded shares of Evergy from a “sell” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Evergy presently has a consensus rating of “Moderate Buy” and an average target price of $86.88.

Evergy Stock Performance

Shares of EVRG opened at $82.50 on Wednesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.27 and a current ratio of 0.49. The stock has a 50-day moving average of $76.07 and a two-hundred day moving average of $75.22. The stock has a market cap of $19.00 billion, a P/E ratio of 22.48, a P/E/G ratio of 3.25 and a beta of 0.66. Evergy Inc. has a one year low of $61.94 and a one year high of $83.19.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data on Saturday, January 31st. The company reported $0.42 earnings per share for the quarter. Evergy had a return on equity of 8.79% and a net margin of 14.35%. As a group, research analysts predict that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.695 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $2.78 dividend on an annualized basis and a yield of 3.4%. Evergy’s dividend payout ratio (DPR) is currently 75.75%.

About Evergy

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.