Kingstone Capital Partners Texas LLC Makes New $2.71 Million Investment in Evergy Inc. $EVRG

Key Points

• Kingstone Capital Partners Texas LLC has invested approximately $2.71 million in Evergy Inc., acquiring 41,472 shares of the company's stock during the second quarter.
• Evergy's recent quarterly earnings showed a profit of $0.82 per share, exceeding analysts' expectations and reflecting a slight revenue decline of .7% year over year.
• The company declared a $0.6675 quarterly dividend with an annualized yield of 3.7%, and its payout ratio stands at 73.35%.

Kingstone Capital Partners Texas LLC purchased a new stake in Evergy Inc. (NASDAQ:EVRG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,472 shares of the company's stock, valued at approximately $2,712,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Horizon Investments LLC grew its stake in Evergy by 4.9% during the 1st quarter. Horizon Investments LLC now owns 3,353 shares of the company's stock valued at $231,000 after acquiring an additional 158 shares in the last quarter. Stolper Co lifted its stake in shares of Evergy by 0.5% in the 1st quarter. Stolper Co now owns 34,630 shares of the company's stock valued at $2,388,000 after purchasing an additional 169 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in shares of Evergy by 4.4% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,944 shares of the company's stock worth $341,000 after buying an additional 210 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Evergy by 6.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 3,905 shares of the company's stock worth $269,000 after purchasing an additional 221 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in Evergy by 2.5% during the first quarter. Parallel Advisors LLC now owns 9,338 shares of the company's stock valued at $644,000 after purchasing an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 87.24% of the company's stock.

Insider Buying and Selling at Evergy

In related news, SVP Lesley Lissette Elwell sold 8,000 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $72.33, for a total value of $578,640.00. Following the sale, the senior vice president directly owned 499 shares of the company's stock, valued at $36,092.67. This represents a 94.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.42% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

EVRG has been the topic of a number of recent research reports. Jefferies Financial Group set a $78.00 price target on shares of Evergy and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Barclays decreased their price target on shares of Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. Finally, Mizuho raised their target price on shares of Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $74.44.

Evergy Stock Down 0.1%

NASDAQ EVRG traded down $0.07 during trading hours on Monday, hitting $72.22. The company's stock had a trading volume of 2,022,786 shares, compared to its average volume of 1,951,702. 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 company's 50-day simple moving average is $71.29 and its two-hundred day simple moving average is $68.73. Evergy Inc. has a 52 week low of $59.00 and a 52 week high of $73.97. The company has a market capitalization of $16.62 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 3.16 and a beta of 0.58.

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

Evergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, August 22nd were given a $0.6675 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $2.67 annualized dividend and a dividend yield of 3.7%. Evergy's dividend payout ratio is currently 73.35%.

Evergy Profile

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.