Simplicity Wealth LLC Invests $778,000 in Evergy Inc. $EVRG

Key Points

• Simplicity Wealth LLC invested approximately $778,000 in Evergy Inc., acquiring 11,290 shares in Q2, as disclosed in their Form 13F filing with the SEC.
• Evergy reported earnings of $0.82 per share for the last quarter, exceeding expectations, but showed a slight revenue decline year-over-year.
• The company announced a quarterly dividend of $0.6675, resulting in a 3.4% dividend yield with a payout ratio of 73.35% as of the latest report.

Simplicity Wealth LLC bought a new position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,290 shares of the company's stock, valued at approximately $778,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bfsg LLC purchased a new stake in shares of Evergy during the first quarter worth about $25,000. Alpine Bank Wealth Management purchased a new stake in shares of Evergy during the first quarter worth about $32,000. Olde Wealth Management LLC purchased a new stake in Evergy during the 1st quarter valued at about $32,000. LRI Investments LLC purchased a new stake in Evergy during the 1st quarter valued at about $32,000. Finally, Clearstead Trust LLC purchased a new stake in Evergy during the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 87.24% of the company's stock.

Evergy Stock Performance

NASDAQ:EVRG opened at $77.69 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.50 and a quick ratio of 0.27. The firm has a market capitalization of $17.88 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 3.39 and a beta of 0.57. The company's 50-day moving average is $72.72 and its two-hundred day moving average is $69.37. Evergy Inc. has a 1-year low of $59.00 and a 1-year high of $78.18.

Evergy (NASDAQ:EVRG - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.04. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.45 billion. Evergy had a net margin of 14.29% and a return on equity of 8.62%. Evergy's revenue was down .7% on a year-over-year basis. 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. Analysts forecast that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, August 22nd were issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, August 22nd. Evergy's dividend payout ratio is currently 73.35%.

Insider Activity at Evergy

In other news, SVP Lesley Lissette Elwell sold 8,000 shares of the company's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $72.33, for a total value of $578,640.00. Following the transaction, the senior vice president directly owned 499 shares in the company, valued at approximately $36,092.67. This represents a 94.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EVRG. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Evergy in a research note on Saturday, September 27th. Mizuho upped their price objective 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. Finally, Jefferies Financial Group set a $78.00 price objective on shares of Evergy and gave the company a "buy" rating in a research note on Tuesday, June 10th. One analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $74.44.

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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