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

Evergy, Inc. (NASDAQ:EVRG)’s stock price reached a new 52-week high on Friday . The company traded as high as $67.90 and last traded at $67.93, with a volume of 306941 shares. The stock had previously closed at $67.25.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. LADENBURG THALM/SH SH raised shares of Evergy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $59.00 to $68.50 in a report on Thursday, January 2nd. Mizuho assumed coverage on Evergy in a report on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 price objective on the stock. Guggenheim raised Evergy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Barclays decreased their target price on Evergy from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.36.

Evergy Stock Performance

The stock has a market cap of $15.65 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.82 and a beta of 0.66. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32. The firm has a fifty day moving average of $63.11 and a 200 day moving average of $61.78.

Institutional Investors Weigh In On Evergy

Several hedge funds and other institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC raised its position in shares of Evergy by 391.1% during the 3rd quarter. HighTower Advisors LLC now owns 97,186 shares of the company’s stock valued at $6,030,000 after buying an additional 77,398 shares during the period. Bank of Montreal Can grew its holdings in shares of Evergy by 29.1% during the 3rd quarter. Bank of Montreal Can now owns 997,832 shares of the company’s stock worth $61,806,000 after purchasing an additional 224,679 shares during the period. BNP Paribas Financial Markets increased its position in shares of Evergy by 34.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 945,148 shares of the company’s stock worth $58,609,000 after purchasing an additional 239,599 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Evergy by 23.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 10,692 shares of the company’s stock valued at $658,000 after buying an additional 2,004 shares during the period. Finally, Allworth Financial LP lifted its position in Evergy by 84.6% in the fourth quarter. Allworth Financial LP now owns 7,975 shares of the company’s stock valued at $501,000 after buying an additional 3,654 shares during the last quarter. 87.24% of the stock is currently owned by institutional investors and hedge funds.

About Evergy

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.