Empowered Funds LLC Invests $2.41 Million in Evergy Inc. $EVRG

Key Points

• Empowered Funds LLC acquired 27,869 Evergy shares worth approximately $2.41 million in the second quarter. Institutional investors collectively own 87.24% of the utility company.
• Evergy exceeded quarterly expectations, reporting $0.88 EPS versus the $0.81 consensus and $1.50 billion in revenue. The company declared a quarterly dividend of $0.695 per share, representing a 3.4% annualized yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $90.60, compared with the stock’s reported price of $80.77.

Empowered Funds LLC acquired a new stake in Evergy Inc. (NASDAQ:EVRG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 27,869 shares of the company's stock, valued at approximately $2,409,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Kestra Advisory Services LLC boosted its position in Evergy by 0.8% during the first quarter. Kestra Advisory Services LLC now owns 15,829 shares of the company's stock valued at $1,297,000 after purchasing an additional 124 shares during the last quarter. Trilogy Capital Inc. increased its position in shares of Evergy by 0.3% during the 2nd quarter. Trilogy Capital Inc. now owns 47,210 shares of the company's stock worth $4,080,000 after purchasing an additional 125 shares during the last quarter. Retirement Planning Group LLC raised its stake in shares of Evergy by 0.6% during the 1st quarter. Retirement Planning Group LLC now owns 23,659 shares of the company's stock worth $1,938,000 after purchasing an additional 137 shares in the last quarter. Earned Wealth Advisors LLC raised its stake in shares of Evergy by 4.9% during the 1st quarter. Earned Wealth Advisors LLC now owns 2,946 shares of the company's stock worth $241,000 after purchasing an additional 137 shares in the last quarter. Finally, Optiver Holding B.V. boosted its holdings in shares of Evergy by 14.5% in the 1st quarter. Optiver Holding B.V. now owns 1,107 shares of the company's stock valued at $91,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 87.24% of the company's stock.

Evergy Stock Performance

Shares of NASDAQ EVRG opened at $80.77 on Thursday. 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 capitalization of $18.62 billion, a P/E ratio of 20.50, a P/E/G ratio of 2.11 and a beta of 0.53. Evergy Inc. has a 12 month low of $70.42 and a 12 month high of $88.62. The stock has a 50 day moving average of $84.39 and a 200-day moving average of $83.04.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.07. Evergy had a return on equity of 9.20% and a net margin of 15.19%.The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the firm posted $0.82 EPS. As a group, equities research analysts predict that Evergy Inc. will post 4.25 EPS for the current year.

Evergy Dividend Announcement

The business 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 dividend of $0.695 per share. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, August 18th. Evergy's dividend payout ratio (DPR) is currently 70.56%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EVRG. BTIG Research set a $97.00 target price on shares of Evergy in a report on Thursday, July 23rd. UBS Group increased their price target on shares of Evergy from $88.00 to $91.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. Barclays lifted their price objective 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. BMO Capital Markets boosted their price objective on shares of Evergy from $88.00 to $92.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Evergy in a report on Friday, August 7th. 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.com, the company has an average rating of "Moderate Buy" and a consensus target price of $90.60.

Insider Activity at Evergy

In related news, EVP Charles A. Caisley sold 10,787 shares of Evergy stock in a transaction dated 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 approximately $3,153,869.94. The trade was a 22.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.52% of the company's stock.

Evergy 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.

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