Evergy (NASDAQ:EVRG) Hits New 52-Week High – Still a Buy?

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

Wall Street Analyst Weigh In

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

Evergy Stock Up 0.6 %

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

Institutional Investors Weigh In On Evergy

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Evergy by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 30,665,885 shares of the company’s stock valued at $1,887,485,000 after buying an additional 221,086 shares during the period. Franklin Resources Inc. lifted its holdings in Evergy by 5.5% during 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 in the last quarter. American Century Companies Inc. grew its stake in Evergy by 3.8% in the fourth quarter. American Century Companies Inc. now owns 3,555,122 shares of the company’s stock valued at $218,818,000 after acquiring an additional 130,804 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Evergy by 9.1% in the fourth quarter. Bank of New York Mellon Corp now owns 3,085,401 shares of the company’s stock worth $189,906,000 after acquiring an additional 256,978 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of Evergy by 25.8% during the third quarter. Point72 Asset Management L.P. now owns 2,848,735 shares of the company’s stock worth $176,650,000 after purchasing an additional 583,923 shares during the period. 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.