Evergy (NASDAQ:EVRG) Hits New 52-Week High – Here’s Why

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

Analyst Ratings Changes

EVRG has been the subject of a number of analyst reports. LADENBURG THALM/SH SH raised Evergy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $59.00 to $68.50 in a research report on Thursday, January 2nd. Guggenheim upgraded shares of Evergy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Barclays reduced their price objective 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 set an “outperform” rating and a $67.00 price objective for the company. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Evergy has an average rating of “Moderate Buy” and a consensus target price of $65.36.

Evergy Stock Up 0.7 %

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 firm’s 50-day moving average price is $62.66 and its two-hundred day moving average price is $61.49. The firm has a market cap of $15.38 billion, a PE ratio of 18.08, a P/E/G ratio of 2.75 and a beta of 0.66.

Institutional Investors Weigh In On Evergy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Pathway Financial Advisers LLC increased its position in shares of Evergy by 6,854.6% during the third quarter. Pathway Financial Advisers LLC now owns 2,539,001 shares of the company’s stock worth $157,443,000 after purchasing an additional 2,502,493 shares in the last quarter. ExodusPoint Capital Management LP grew its stake in Evergy by 164.8% during the 4th quarter. ExodusPoint Capital Management LP now owns 2,312,953 shares of the company’s stock worth $142,362,000 after buying an additional 1,439,450 shares during the last quarter. Mizuho Securities USA LLC increased its position in Evergy by 7,234.3% during the third quarter. Mizuho Securities USA LLC now owns 1,300,000 shares of the company’s stock worth $80,613,000 after buying an additional 1,282,275 shares during the period. FMR LLC lifted its stake in Evergy by 131.4% in the third quarter. FMR LLC now owns 2,004,414 shares of the company’s stock valued at $124,294,000 after buying an additional 1,138,138 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Evergy by 15,406.4% in the fourth quarter. SG Americas Securities LLC now owns 921,546 shares of the company’s stock valued at $56,721,000 after acquiring an additional 915,603 shares during the period. 87.24% of the stock is owned by hedge funds and other institutional investors.

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.