Odyssean LLC Invests $1.10 Million in Evergy Inc. $EVRG

Odyssean LLC bought a new position in shares of Evergy Inc. (NASDAQ:EVRG) in the second quarter, Holdings Channel reports. The institutional investor bought 12,702 shares of the company’s stock, valued at approximately $1,098,000.

A number of other hedge funds have also made changes to their positions in the company. Magellan Asset Management Ltd bought a new stake in Evergy during the second quarter worth about $187,857,000. Legal & General Group Plc bought a new position in shares of Evergy in the second quarter valued at approximately $138,233,000. Energy Income Partners LLC acquired a new position in shares of Evergy in the 2nd quarter worth approximately $110,394,000. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Evergy by 476.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,207,882 shares of the company’s stock worth $87,559,000 after acquiring an additional 998,400 shares in the last quarter. Finally, Freestone Grove Partners LP grew its position in Evergy by 321.1% during the 4th quarter. Freestone Grove Partners LP now owns 854,739 shares of the company’s stock worth $61,960,000 after acquiring an additional 651,738 shares during the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EVRG. Barclays raised their price target on Evergy from $89.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, June 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Evergy in a research note 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 report on Friday, May 8th. Citigroup raised their target price on Evergy from $95.00 to $97.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, BTIG Research set a $97.00 price target on Evergy in a report on Thursday, July 23rd. 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 data from MarketBeat, Evergy has an average rating of “Moderate Buy” and an average target price of $90.60.

Insider Buying and Selling at Evergy

In other news, EVP Charles Caisley sold 10,787 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $83.46, for a total transaction of $900,283.02. Following the completion of the sale, the executive vice president owned 37,789 shares in the company, valued at $3,153,869.94. The trade was a 22.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 currently owned by insiders.

Evergy Price Performance

EVRG opened at $81.54 on Friday. 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 stock has a market capitalization of $18.80 billion, a P/E ratio of 20.70, a price-to-earnings-growth ratio of 2.13 and a beta of 0.53. The company’s 50 day simple moving average is $84.19 and its 200-day simple moving average is $83.03. Evergy Inc. has a one year low of $70.42 and a one year high of $88.62.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the company posted $0.82 EPS. Sell-side analysts anticipate that Evergy Inc. will post 4.25 earnings per share for the current fiscal year.

Evergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, August 18th will be paid a $0.695 dividend. This represents a $2.78 annualized dividend 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 70.56%.

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.