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

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Barclays lifted their target price on shares of Evergy from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, January 22nd. Citigroup raised their target price on Evergy from $79.00 to $89.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $91.00 price target on shares of Evergy in a research report on Friday, January 23rd. BMO Capital Markets increased their price objective on Evergy from $79.00 to $82.00 and gave the stock an “outperform” rating in a report on Tuesday, January 27th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $76.00 price target (down previously from $86.00) on shares of Evergy in a research note on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.25.

Evergy Trading Down 1.3%

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

Institutional Trading of Evergy

A number of institutional investors have recently made changes to their positions in EVRG. Synergy Asset Management LLC grew its position in Evergy by 100.0% during the third quarter. Synergy Asset Management LLC now owns 148,940 shares of the company’s stock valued at $11,322,000 after acquiring an additional 74,470 shares during the last quarter. Kingsview Wealth Management LLC purchased a new position in shares of Evergy during the second quarter valued at about $246,000. Davis Capital Management purchased a new stake in shares of Evergy in the 3rd quarter worth about $1,379,000. iA Global Asset Management Inc. boosted its holdings in Evergy by 207.0% in the third quarter. iA Global Asset Management Inc. now owns 22,624 shares of the company’s stock worth $1,720,000 after acquiring an additional 15,254 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of Evergy by 9.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 209,307 shares of the company’s stock valued at $15,912,000 after buying an additional 18,783 shares during the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

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.