Evergy (NASDAQ:EVRG) Sets New 12-Month High – Should You Buy?

Evergy, Inc. (NASDAQ:EVRG)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $69.58 and last traded at $69.05, with a volume of 3112864 shares. The stock had previously closed at $68.81.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays lowered their price objective on Evergy from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. LADENBURG THALM/SH SH raised Evergy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $59.00 to $68.50 in a research report on Thursday, January 2nd. Finally, Guggenheim raised Evergy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Evergy currently has an average rating of “Moderate Buy” and a consensus target price of $65.36.

Evergy Price Performance

The company has a fifty day moving average price of $63.69 and a two-hundred day moving average price of $62.08. The company has a current ratio of 0.55, a quick ratio of 0.32 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $15.88 billion, a PE ratio of 18.66, a P/E/G ratio of 2.82 and a beta of 0.66.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.11). Evergy had a net margin of 14.77% and a return on equity of 8.77%. Sell-side analysts forecast that Evergy, Inc. will post 3.83 earnings per share for the current year.

Institutional Trading of Evergy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp raised its stake in Evergy by 38.3% during the 4th quarter. Mackenzie Financial Corp now owns 156,238 shares of the company’s stock valued at $9,616,000 after acquiring an additional 43,289 shares during the last quarter. Retirement Planning Group LLC raised its stake in shares of Evergy by 0.9% during the 4th quarter. Retirement Planning Group LLC now owns 24,372 shares of the company’s stock worth $1,500,000 after buying an additional 210 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Evergy during the 4th quarter worth approximately $850,000. iSAM Funds UK Ltd purchased a new position in shares of Evergy during the 4th quarter worth approximately $840,000. Finally, Vennlight Capital Management LP purchased a new position in shares of Evergy during the 4th quarter worth approximately $10,363,000. 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.