Union Bancaire Privee UBP SA Makes New Investment in Evergy Inc. $EVRG

Key Points

• Union Bancaire Privee UBP SA has acquired a new position in Evergy Inc., purchasing 5,138 shares valued at approximately $354,000 in the second quarter.
• Evergy reported earnings of $0.82 per share for the most recent quarter, exceeding analysts' expectations, despite a slight revenue decline compared to the previous year.
• The company declared a quarterly dividend of $0.6675 per share, with an annualized yield of 3.5%, reflecting a payout ratio of 73.35%.

Union Bancaire Privee UBP SA purchased 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 (SEC). The fund purchased 5,138 shares of the company's stock, valued at approximately $354,000.

Several other hedge funds have also recently added to or reduced their stakes in EVRG. Bfsg LLC bought a new stake in Evergy during the first quarter worth about $25,000. Alpine Bank Wealth Management bought a new stake in Evergy during the first quarter worth about $32,000. Olde Wealth Management LLC bought a new stake in Evergy during the first quarter worth about $32,000. LRI Investments LLC purchased a new position in shares of Evergy in the first quarter worth about $32,000. Finally, Clearstead Trust LLC purchased a new position in shares of Evergy in the first quarter worth about $32,000. Institutional investors own 87.24% of the company's stock.

Evergy Stock Up 0.3%

Shares of NASDAQ:EVRG opened at $76.23 on Thursday. Evergy Inc. has a 1 year low of $59.00 and a 1 year high of $76.46. The company has a market cap of $17.54 billion, a PE ratio of 20.94, a P/E/G ratio of 3.32 and a beta of 0.57. 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 stock's 50-day moving average is $72.11 and its 200 day moving average is $69.10.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the business earned $0.90 EPS. 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. Sell-side analysts anticipate that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 22nd were issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Friday, August 22nd. Evergy's payout ratio is currently 73.35%.

Analyst Ratings Changes

Several research firms have recently commented on EVRG. Mizuho lifted their price objective on Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Jefferies Financial Group set a $78.00 price objective on Evergy and gave the stock a "buy" rating in a report on Tuesday, June 10th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to data from MarketBeat, Evergy has an average rating of "Buy" and a consensus price target of $74.44.

Insider Transactions at Evergy

In related news, SVP Lesley Lissette Elwell sold 8,000 shares of the business'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 owned 499 shares in the company, valued at $36,092.67. The trade was a 94.13% decrease in their position. 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 currently owned by corporate insiders.

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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