Sound Income Strategies LLC Increases Stake in Evergy Inc. $EVRG

Key Points

• Sound Income Strategies LLC increased its stake in Evergy Inc. by 6.0% in Q2, owning approximately 0.10% of the company worth $15.7 million after acquiring additional shares.
• Evergy recently declared a quarterly dividend of $0.6675, reflecting a 3.6% yield based on an annualized rate of $2.67.
• Despite a slight drop in quarterly revenue compared to the previous year, Evergy reported earnings per share of $0.82, surpassing analysts' expectations of $0.78.

Sound Income Strategies LLC raised its holdings in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 6.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 228,001 shares of the company's stock after purchasing an additional 12,988 shares during the quarter. Sound Income Strategies LLC owned approximately 0.10% of Evergy worth $15,716,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sonora Investment Management Group LLC lifted its stake in shares of Evergy by 1.5% during the 2nd quarter. Sonora Investment Management Group LLC now owns 225,915 shares of the company's stock valued at $15,572,000 after buying an additional 3,269 shares in the last quarter. Patton Fund Management Inc. bought a new stake in shares of Evergy during the 2nd quarter valued at $3,348,000. Dakota Wealth Management purchased a new stake in shares of Evergy in the second quarter worth about $2,533,000. Mather Group LLC. increased its holdings in Evergy by 9.7% during the 2nd quarter. Mather Group LLC. now owns 4,548 shares of the company's stock worth $313,000 after acquiring an additional 401 shares during the period. Finally, Fifth Third Bancorp lifted its stake in Evergy by 136.5% in the 2nd quarter. Fifth Third Bancorp now owns 44,381 shares of the company's stock worth $3,059,000 after purchasing an additional 25,612 shares in the last quarter. Institutional investors own 87.24% of the company's stock.

Insider Transactions at Evergy

In other news, SVP Lesley Lissette Elwell sold 8,000 shares of the firm's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $72.33, for a total transaction of $578,640.00. Following the transaction, the senior vice president directly owned 499 shares of the company's stock, valued at approximately $36,092.67. This trade represents a 94.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.42% of the stock is currently owned by insiders.

Evergy Price Performance

EVRG opened at $74.07 on Monday. 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 has a market capitalization of $17.05 billion, a P/E ratio of 20.35, a PEG ratio of 3.24 and a beta of 0.58. The stock has a 50-day moving average price of $71.73 and a 200-day moving average price of $68.95. Evergy Inc. has a 12-month low of $59.00 and a 12-month high of $74.57.

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

Evergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 22nd were paid a $0.6675 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $2.67 annualized dividend and a yield of 3.6%. Evergy's payout ratio is currently 73.35%.

Analyst Ratings Changes

A number of research firms have recently commented on EVRG. Jefferies Financial Group set a $78.00 price target on shares of Evergy and gave the company a "buy" rating in a research report on Tuesday, June 10th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $74.44.

Evergy Company 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.

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