Evergy Outperforms S&P 500 as Dividend Peers Lag

Evergy (NASDAQ:EVRG) is the only one of three dividend stocks recommended by GN stocks/sp500 a year ago to have outperformed the S&P 500. The Kansas and Missouri utility shares gained 20.1% from September 2025 to September 2026, beating the SPDR S&P 500 ETF Trust’s 17.4% return over the same period. In contrast, Atmos Energy (NYSE:ATO) and Public Storage (NYSE:PSA) delivered returns of 3.9% and 5.0%, respectively, falling short of the benchmark despite delivering double-digit earnings surprises and maintaining stable payout ratios.

The divergence highlights a disconnect between operational performance and price appreciation in the current market. While Public Storage beat core funds from operations expectations in two consecutive quarters, its share price lagged the broader index. Similarly, Atmos Energy raised its dividend by double digits yet ended the period with a negative year-to-date return. Evergy’s success was driven by a combination of a recent dividend increase and consistent earnings beats, allowing it to capture both income and growth capital.

Evergy Delivers Earnings Beats and Raises Payout

Evergy’s financial results supported its stock price gain, with the company beating adjusted earnings per share estimates by 13.8% in the first quarter of 2026 and by 9.9% in the second quarter. Adjusted EPS stood at $0.69 and $0.88 for those periods, respectively. Management reaffirmed its full-year 2026 adjusted EPS guidance of $4.14 to $4.34 during the second-quarter report. This performance followed a significant fourth-quarter 2025 miss, where adjusted EPS came in at $0.42, indicating a strong operational recovery into the current fiscal year.

The company also increased its quarterly dividend to $0.6950 per share, up from $0.6675, with the next payment scheduled for September 18, 2026. The trailing twelve-month dividend total is now $2.78 per share. CEO David Campbell stated that the company expects to execute at least one additional electric service agreement in 2026, driven by demand from data centers and large load customers in Kansas and Missouri. Evergy is trading at $82.55, reflecting investor confidence in its regulated utility model and long-term growth framework of 6% to 8% annual adjusted EPS growth through 2030.

Public Storage Beats Estimates but Lags Market

Public Storage delivered two of the largest core FFO beats posted by a large-cap real estate investment trust this year, yet its stock returned only 5.0% since the original recommendation. Core FFO per share exceeded consensus by 2.2% in Q1 2026 at $4.22 and by 1.9% in Q2 at $4.17. Revenue also beat expectations in both quarters, up 0.6% and 0.4%, respectively. Despite these operational wins, the shares traded at $292.34 on September 10, 2026, after a 9.6% decline over the preceding month.

Management raised full-year core FFO guidance to $16.75 to $17.05 per share, citing the completion of the $10.5 billion National Storage Affiliates merger on July 22, 2026. The company also signed an agreement to acquire Public Storage Canada for $1.2 billion. CEO Tom Boyle described the second quarter as the start of a new strategic phase. However, the quarterly dividend has remained flat at $3.00 per share since March 2023, limiting the income growth appeal that may have contributed to the stock’s underperformance relative to the S&P 500.

Atmos Energy Raises Dividend Amid Weak Price Action

Atmos Energy shares lagged the S&P 500 with a 3.9% return over the measurement period and a 1.6% decline year-to-date in 2026. The natural gas utility pushed through a double-digit dividend increase, enhancing its income appeal for investors. Despite the payout growth, the stock failed to outperform the broader market, reflecting broader sector headwinds or specific company valuation pressures that outweighed the benefit of the higher yield. The divergence between dividend growth and share price performance underscores the mixed reception of the utility name in the current trading environment.