Pallas Capital Advisors LLC Makes New Investment in Evergy Inc. $EVRG

Pallas Capital Advisors LLC bought a new position in Evergy Inc. (NASDAQ:EVRG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 9,898 shares of the company’s stock, valued at approximately $855,000.

Other large investors have also made changes to their positions in the company. Adage Capital Partners GP L.L.C. grew its position in Evergy by 476.6% during 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 purchasing an additional 998,400 shares in the last quarter. Freestone Grove Partners LP raised its stake in Evergy by 321.1% during the 4th quarter. Freestone Grove Partners LP now owns 854,739 shares of the company’s stock valued at $61,960,000 after purchasing an additional 651,738 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Evergy in the second quarter valued at $47,769,000. Renaissance Technologies LLC lifted its holdings in shares of Evergy by 122.4% in the fourth quarter. Renaissance Technologies LLC now owns 811,202 shares of the company’s stock valued at $58,804,000 after purchasing an additional 446,400 shares in the last quarter. Finally, BROOKFIELD Corp ON acquired a new stake in shares of Evergy in the second quarter worth $29,644,000. Institutional investors and hedge funds own 87.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on EVRG shares. BTIG Research set a $97.00 price target on Evergy in a report on Thursday, July 23rd. UBS Group raised their price objective on Evergy from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Wells Fargo & Company set a $87.00 target price on Evergy in a research note on Tuesday, April 21st. Barclays upped their target price on Evergy from $89.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, June 30th. Finally, Citigroup increased their price target on shares of Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $90.60.

Evergy Price Performance

Shares of NASDAQ:EVRG opened at $83.42 on Wednesday. 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 1 year low of $70.42 and a 1 year high of $88.62. The business has a fifty day simple moving average of $84.81 and a 200 day simple moving average of $82.74. The firm has a market cap of $19.23 billion, a price-to-earnings ratio of 21.17, a P/E/G ratio of 2.18 and a beta of 0.54.

Evergy (NASDAQ:EVRG) last issued its earnings results on Thursday, August 6th. The company reported $0.88 EPS for the quarter, beating 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 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 company posted $0.82 earnings per share. Evergy has set its FY 2026 guidance at 4.140-4.340 EPS. As a group, sell-side analysts predict that Evergy Inc. will post 4.25 earnings per share for the current fiscal year.

Evergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, August 18th. Evergy’s payout ratio is currently 70.56%.

Insider Activity at Evergy

In related news, Director Sandra Aj Lawrence sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $81.41, for a total transaction of $48,846.00. Following the transaction, the director owned 680 shares of the company’s stock, valued at approximately $55,358.80. This trade represents a 46.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles A. Caisley sold 10,787 shares of Evergy 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 completion of the sale, the executive vice president owned 37,789 shares of the company’s stock, valued at $3,153,869.94. This trade represents a 22.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 12,748 shares of company stock valued at $1,061,870. 1.52% of the stock is currently owned by company 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.