USA Financial Formulas Boosts Stake in Evergy Inc. $EVRG

Key Points

• USA Financial Formulas has significantly increased its stake in Evergy Inc. by 98.7%, now holding 10,499 shares worth approximately $724,000.
• Evergy reported earnings of $0.82 per share, surpassing analysts' expectations, despite a 0.7% year-over-year decrease in quarterly revenue.
• The company declared a quarterly dividend of $0.6675 per share, resulting in an annualized yield of 3.5%, with a payout ratio of 73.35%.

USA Financial Formulas grew its stake in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 98.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,499 shares of the company's stock after purchasing an additional 5,215 shares during the quarter. USA Financial Formulas' holdings in Evergy were worth $724,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC purchased a new position in Evergy in the fourth quarter valued at about $257,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Evergy by 33.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,249 shares of the company's stock valued at $2,046,000 after purchasing an additional 8,385 shares during the last quarter. Rhumbline Advisers boosted its holdings in Evergy by 9.7% in the first quarter. Rhumbline Advisers now owns 398,235 shares of the company's stock valued at $27,458,000 after purchasing an additional 35,080 shares during the last quarter. Czech National Bank boosted its holdings in Evergy by 5.9% in the first quarter. Czech National Bank now owns 52,821 shares of the company's stock valued at $3,642,000 after purchasing an additional 2,956 shares during the last quarter. Finally, NBC Securities Inc. boosted its holdings in Evergy by 116,966.7% in the first quarter. NBC Securities Inc. now owns 7,024 shares of the company's stock valued at $484,000 after purchasing an additional 7,018 shares during the last quarter. Institutional investors and hedge funds own 87.24% of the company's stock.

Evergy Trading Up 0.3%

Shares of NASDAQ EVRG opened at $76.23 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.50 and a debt-to-equity ratio of 1.24. The stock's 50 day moving average price is $72.11 and its two-hundred day moving average price is $69.10. The stock has a market capitalization of $17.54 billion, a P/E ratio of 20.94, a PEG ratio of 3.32 and a beta of 0.57. Evergy Inc. has a 52-week low of $59.00 and a 52-week high of $76.46.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its quarterly 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. The business had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.45 billion. Evergy had a return on equity of 8.62% and a net margin of 14.29%.The business's quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 EPS. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. On average, analysts anticipate that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EVRG. Jefferies Financial Group set a $78.00 price objective on Evergy and gave the company a "buy" rating in a research note on Tuesday, June 10th. Mizuho upped their price objective on Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, Evergy currently has an average rating of "Buy" and a consensus price target of $74.44.

Insider Buying and Selling at Evergy

In other news, SVP Lesley Lissette Elwell sold 8,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $72.33, for a total transaction of $578,640.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.42% of the company's stock.

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.

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