Balboa Wealth Partners Acquires New Position in Evergy Inc. $EVRG

Balboa Wealth Partners acquired a new stake in Evergy Inc. (NASDAQ:EVRG) during the second quarter, Holdings Channel reports. The firm acquired 5,357 shares of the company’s stock, valued at approximately $369,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new stake in Evergy in the 1st quarter valued at about $212,132,000. Northern Trust Corp raised its stake in Evergy by 16.7% in the 1st quarter. Northern Trust Corp now owns 2,737,480 shares of the company’s stock valued at $188,749,000 after acquiring an additional 392,361 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Evergy by 0.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,174,047 shares of the company’s stock valued at $149,901,000 after acquiring an additional 13,555 shares during the period. Jennison Associates LLC raised its stake in Evergy by 11.2% in the 1st quarter. Jennison Associates LLC now owns 1,730,849 shares of the company’s stock valued at $119,342,000 after acquiring an additional 174,269 shares during the period. Finally, AQR Capital Management LLC raised its stake in Evergy by 27.7% in the 1st quarter. AQR Capital Management LLC now owns 1,482,508 shares of the company’s stock valued at $101,715,000 after acquiring an additional 321,406 shares during the period. 87.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group upped their price target on Evergy from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Mizuho upped their price target on Evergy from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Evergy in a research report on Wednesday, October 8th. Finally, Barclays reiterated an “outperform” rating on shares of Evergy in a research report on Thursday, October 9th. One equities research 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.com, Evergy currently has an average rating of “Buy” and an average target price of $78.07.

Evergy Stock Up 0.9%

EVRG stock opened at $78.65 on Tuesday. 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 moving average is $73.73 and its 200 day moving average is $70.01. The stock has a market cap of $18.10 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 3.61 and a beta of 0.57. Evergy Inc. has a 1-year low of $59.23 and a 1-year high of $79.32.

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

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 22nd were given 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 73.35%.

Insider Buying and Selling at Evergy

In other Evergy news, SVP Lesley Lissette Elwell sold 8,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Company 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.