Evergy (NASDAQ:EVRG) Reaches New 12-Month High – What’s Next?

Evergy, Inc. (NASDAQ:EVRG) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $66.25 and last traded at $66.22, with a volume of 1461688 shares traded. The stock had previously closed at $65.80.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. LADENBURG THALM/SH SH raised Evergy from a “neutral” rating to a “buy” rating and upped their price target for the company from $59.00 to $68.50 in a report on Thursday, January 2nd. Barclays decreased their price target on shares of Evergy from $65.00 to $62.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Guggenheim raised Evergy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Mizuho initiated coverage on Evergy in a report on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 target price for the company. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Evergy presently has a consensus rating of “Moderate Buy” and an average target price of $65.36.

Evergy Stock Up 0.6 %

The company has a market cap of $15.23 billion, a P/E ratio of 17.90, a PEG ratio of 2.75 and a beta of 0.66. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32. The business’s 50 day moving average price is $62.53 and its 200-day moving average price is $61.42.

Institutional Trading of Evergy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Evergy by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 30,665,885 shares of the company’s stock worth $1,887,485,000 after buying an additional 221,086 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Evergy by 5.5% in the third quarter. Franklin Resources Inc. now owns 5,532,719 shares of the company’s stock worth $330,469,000 after acquiring an additional 288,619 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Evergy by 3.8% during the fourth quarter. American Century Companies Inc. now owns 3,555,122 shares of the company’s stock worth $218,818,000 after purchasing an additional 130,804 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Evergy by 9.1% during the fourth quarter. Bank of New York Mellon Corp now owns 3,085,401 shares of the company’s stock valued at $189,906,000 after purchasing an additional 256,978 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of Evergy by 25.8% in the third quarter. Point72 Asset Management L.P. now owns 2,848,735 shares of the company’s stock valued at $176,650,000 after purchasing an additional 583,923 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Company 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.