Evergy (NASDAQ:EVRG) Sets New 1-Year High – Time to Buy?

Evergy, Inc. (NASDAQ:EVRG)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $67.90 and last traded at $67.93, with a volume of 306941 shares traded. The stock had previously closed at $67.25.

Analyst Ratings Changes

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

Evergy Price Performance

The company’s fifty day moving average price is $63.24 and its two-hundred day moving average price is $61.87. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15. The company has a market cap of $15.65 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.82 and a beta of 0.66.

Hedge Funds Weigh In On Evergy

Large investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its position in shares of Evergy by 391.1% during the third quarter. HighTower Advisors LLC now owns 97,186 shares of the company’s stock worth $6,030,000 after buying an additional 77,398 shares during the period. Allworth Financial LP lifted its stake in Evergy by 84.6% in the 4th quarter. Allworth Financial LP now owns 7,975 shares of the company’s stock valued at $501,000 after acquiring an additional 3,654 shares in the last quarter. Bank of Montreal Can boosted its position in Evergy by 29.1% during the 3rd quarter. Bank of Montreal Can now owns 997,832 shares of the company’s stock worth $61,806,000 after acquiring an additional 224,679 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Evergy by 34.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 945,148 shares of the company’s stock worth $58,609,000 after acquiring an additional 239,599 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of Evergy by 23.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 10,692 shares of the company’s stock worth $658,000 after acquiring an additional 2,004 shares in the last quarter. Institutional investors own 87.24% of the company’s stock.

About Evergy

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.