KANSAS CITY, Mo. - Evergy, Inc. (NASDAQ: NASDAQ:EVRG), a utility serving customers in Kansas and Missouri, has announced the upcoming appointments of two new members to its Board of Directors. Dean Newton, President and CEO of Delta Dental of Kansas, will join the board on Oct. 15, 2024, and Jon Rolph, CEO of Thrive Restaurant Group (LON:RTN), will follow on Jan. 1, 2025.
Newton, who also serves as President and CEO of Surency Life & Health Insurance Co., has been recognized for his leadership roles, including guiding Delta Dental of Kansas to national accolades for innovation and corporate culture. His past experiences include serving as a Kansas House of Representatives member and an attorney with Sonnenschein Nath & Rosenthal, LLP. Newton is also known for his active participation in various community organizations across Kansas City and Wichita.
Rolph leads Thrive Restaurant Group, which operates a significant portfolio of restaurants, including the second-largest group of Applebee's franchises in the nation. With over two decades of business leadership, Rolph has contributed to the company's growth and has been involved in numerous civic and community boards in Kansas.
David Campbell, Evergy’s chairman, president, and chief executive officer, expressed confidence in the appointments, highlighting Newton's regulated business leadership and Rolph's regional business growth expertise as valuable to the board. Campbell also noted the strategic importance of their regional knowledge for Evergy's future.
Newton is set to serve on Evergy's Operations Committee, while Rolph will join the Finance Committee. The appointments come at a time when Evergy emphasizes regional expertise to navigate the energy sector's growth and changes.
Evergy, headquartered in Kansas City, focuses on delivering reliable, affordable, and sustainable energy. The company states that approximately half of its power generation comes from carbon-free sources. Evergy's mission includes innovation and adaptability to provide better energy management solutions, a safe and inclusive workplace, and value for investors.
The information in this article is based on a press release statement from Evergy, Inc.
In other recent news, Evergy has experienced notable developments in its operations and financial performance. The utility company reported a rise in its Q2 2024 adjusted earnings per share (EPS) to $0.90, up from $0.81 in the same quarter of the previous year. This growth was credited to factors such as demand growth, favorable weather conditions, new retail rates, and higher transmission margins. Additionally, Evergy confirmed the appointment of W. Bryan Buckler as its new executive vice president and chief financial officer, a move that strengthens the company's leadership team.
Edward Jones has maintained its Buy rating on Evergy, emphasizing the company's potential in light of recent regulatory changes that allow for rate increases. Such modifications are expected to enable Evergy to fund investments in its utility system and align more closely with the financial structure of its industry peers. The firm's confidence in Evergy's ability to navigate this new regulatory environment is reflected in their continued Buy rating.
These updates follow the company's reaffirmation of its 2024 EPS guidance and long-term growth targets, despite severe storms causing damage to its infrastructure. Evergy's commitment to growth and sustainability, coupled with its strategic focus on infrastructure investment, positions the company to navigate future challenges while delivering value to its customers and shareholders.
InvestingPro Insights
As Evergy, Inc. (NASDAQ: EVRG) welcomes new expertise to its board, investors may be interested in the company's recent financial performance and market standing. Evergy operates with a significant debt burden, which is a critical factor for investors to consider as the company continues to grow and adapt in the energy sector. Despite this, Evergy is noted for its consistent dividend payments, having raised its dividend for 20 consecutive years and maintained payments for 33 consecutive years, underscoring a commitment to shareholder returns.
From a market perspective, Evergy's stock has been trading near its 52-week high, reflecting a strong return over the last three months. This is complemented by a 17.45% three-month price total return, which is indicative of the company's recent market performance. Evergy's dividend yield as of the latest data stands at 4.15%, which is attractive to income-focused investors. The company's Price/Earnings (P/E) ratio is currently at 19.27, aligning with industry standards and suggesting a balanced valuation given its earnings.
For those looking for more in-depth analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/EVRG. These tips provide further insights into Evergy's financial health and market expectations, including the latest analyst revisions and liquidity concerns. With a total of 10 InvestingPro Tips listed, investors can gain a comprehensive understanding of Evergy's position and potential investment opportunities.
Evergy's commitment to innovation and sustainability, paired with a strong dividend history and recent market performance, positions the company as an interesting player in the utility sector. As Evergy continues to adapt to the evolving energy landscape, these financial metrics and insights can help investors make informed decisions.
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