Balboa Wealth Partners Invests $369,000 in Evergy Inc. $EVRG

Key Points

• Balboa Wealth Partners invested approximately $369,000 in shares of Evergy Inc., acquiring 5,357 shares in the second quarter.
• Evergy received a consensus "Buy" rating from analysts, with a price target set at $78.07.
• The company recently announced a quarterly dividend of $0.6675 per share, representing an annualized yield of 3.4%.

Balboa Wealth Partners acquired a new position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,357 shares of the company's stock, valued at approximately $369,000.

Other large investors also recently modified their holdings of the company. Amundi grew its position in shares of Evergy by 14.2% during the 1st quarter. Amundi now owns 140,301 shares of the company's stock worth $9,710,000 after buying an additional 17,477 shares during the period. Northern Trust Corp grew its position in Evergy by 16.7% in the 1st quarter. Northern Trust Corp now owns 2,737,480 shares of the company's stock valued at $188,749,000 after purchasing an additional 392,361 shares during the period. Integrity Alliance LLC. acquired a new stake in Evergy in the 1st quarter valued at $319,000. Callan Family Office LLC acquired a new stake in Evergy in the 2nd quarter valued at $413,000. Finally, HighTower Advisors LLC grew its position in Evergy by 26.6% in the 1st quarter. HighTower Advisors LLC now owns 124,115 shares of the company's stock valued at $8,558,000 after purchasing an additional 26,086 shares during the period. Institutional investors and hedge funds own 87.24% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EVRG. Weiss Ratings reissued a "buy (b-)" rating on shares of Evergy in a research report on Wednesday, October 8th. Mizuho lifted their price target on shares of Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Barclays reissued an "outperform" rating on shares of Evergy in a research report on Thursday, October 9th. Finally, Jefferies Financial Group lifted their price target on shares of Evergy from $77.00 to $87.00 and gave the company a "buy" rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $78.07.

Insider Activity at Evergy

In other news, SVP Lesley Lissette Elwell sold 8,000 shares of Evergy stock in a transaction on Monday, September 15th. The stock was sold at an average price of $72.33, for a total transaction of $578,640.00. Following the sale, the senior vice president directly owned 499 shares in the company, valued at $36,092.67. The trade was a 94.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.42% of the stock is owned by insiders.

Evergy Price Performance

Shares of NASDAQ:EVRG opened at $78.65 on Tuesday. The company has a current ratio of 0.50, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. The stock's fifty day simple moving average is $73.73 and its two-hundred day simple moving average is $70.01. Evergy Inc. has a 1-year low of $59.23 and a 1-year high of $79.32. The stock has a market cap of $18.10 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 3.61 and a beta of 0.57.

Evergy (NASDAQ:EVRG - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.04. The company had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.45 billion. Evergy had a return on equity of 8.62% and a net margin of 14.29%.The business's revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 EPS. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. As a group, analysts forecast that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, August 22nd were paid a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Friday, August 22nd. Evergy's payout ratio is presently 73.35%.

About Evergy

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in the United States. The company generates electricity through coal, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources. It serves residences, commercial firms, industrials, municipalities, and other electric utilities.

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