Evergy (NASDAQ:EVRG) Reaches New 1-Year High – Here’s Why

Evergy, Inc. (NASDAQ:EVRG) hit a new 52-week high on Friday . The company traded as high as $67.90 and last traded at $67.93, with a volume of 306941 shares trading hands. The stock had previously closed at $67.25.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on EVRG shares. Mizuho started coverage on Evergy in a research note on Tuesday, October 29th. They set an “outperform” rating and a $67.00 target price on the stock. LADENBURG THALM/SH SH raised shares of Evergy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $59.00 to $68.50 in a research note on Thursday, January 2nd. Guggenheim raised shares of Evergy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Barclays cut their price objective on Evergy from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Evergy presently has an average rating of “Moderate Buy” and an average price target of $65.36.

Evergy Trading Up 1.2 %

The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. The stock has a market capitalization of $15.65 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 2.82 and a beta of 0.66. The business’s 50-day moving average is $63.11 and its two-hundred day moving average is $61.78.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of 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 during the last quarter. Franklin Resources Inc. increased its position in Evergy by 2.3% during the 4th quarter. Franklin Resources Inc. now owns 5,660,930 shares of the company’s stock worth $348,430,000 after purchasing an additional 128,211 shares in the last quarter. Geode Capital Management LLC raised its stake in Evergy by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 5,637,257 shares of the company’s stock valued at $346,063,000 after purchasing an additional 133,641 shares during the last quarter. American Century Companies Inc. lifted its stake 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 valued at $218,818,000 after buying an additional 130,804 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of Evergy by 2.2% during the fourth quarter. Federated Hermes Inc. now owns 3,434,216 shares of the company’s stock valued at $211,376,000 after buying an additional 73,066 shares during the period. Institutional investors and hedge funds own 87.24% of the company’s stock.

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.