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

Evergy Inc. (NASDAQ:EVRG) shares reached a new 52-week high on Tuesday . The company traded as high as $83.19 and last traded at $82.3110, with a volume of 80314 shares traded. The stock had previously closed at $82.69.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EVRG. BMO Capital Markets lifted their price target on shares of Evergy from $79.00 to $82.00 and gave the company an “outperform” rating in a research report on Tuesday, January 27th. Barclays raised their price target on Evergy from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, January 22nd. UBS Group cut shares of Evergy from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $86.00 to $88.00 in a research report on Friday. Wells Fargo & Company increased their price objective on shares of Evergy from $77.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 20th. Finally, Wall Street Zen cut shares of Evergy from a “hold” rating to a “sell” rating in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Evergy presently has an average rating of “Moderate Buy” and an average price target of $84.25.

Evergy Trading Down 1.3%

The firm has a market cap of $18.79 billion, a price-to-earnings ratio of 22.35, a P/E/G ratio of 3.28 and a beta of 0.66. The firm’s 50-day moving average is $75.18 and its 200-day moving average is $74.87. The company has a current ratio of 0.52, a quick ratio of 0.30 and a debt-to-equity ratio of 1.20.

Institutional Trading of Evergy

A number of hedge funds have recently bought and sold shares of EVRG. Adage Capital Partners GP L.L.C. increased its stake in shares of Evergy by 476.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,207,882 shares of the company’s stock worth $87,559,000 after purchasing an additional 998,400 shares during the last quarter. Atom Investors LP purchased a new position in Evergy in the fourth quarter worth $308,000. ExodusPoint Capital Management LP grew its position in Evergy by 33.3% during the fourth quarter. ExodusPoint Capital Management LP now owns 1,146,474 shares of the company’s stock valued at $83,108,000 after acquiring an additional 286,295 shares during the last quarter. Blair William & Co. IL lifted its holdings in shares of Evergy by 7.2% in the 4th quarter. Blair William & Co. IL now owns 7,116 shares of the company’s stock worth $516,000 after acquiring an additional 476 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Evergy by 23.7% during the fourth quarter. Royal Bank of Canada now owns 259,820 shares of the company’s stock valued at $18,836,000 after buying an additional 49,771 shares during the period. 87.24% of the stock is currently owned by institutional investors.

Evergy Company Profile

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company’s business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.