Evergy, Inc. (NASDAQ:EVRG) Sees Significant Decline in Short Interest

Evergy, Inc. (NASDAQ:EVRG) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 9,600,000 shares, a drop of 6.3% from the January 15th total of 10,240,000 shares. Based on an average daily volume of 1,870,000 shares, the short-interest ratio is currently 5.1 days. Approximately 4.2% of the company’s shares are short sold.

Evergy Trading Down 0.3 %

Shares of NASDAQ EVRG traded down $0.23 during midday trading on Monday, hitting $66.66. 1,706,828 shares of the company traded hands, compared to its average volume of 1,744,046. Evergy has a 12-month low of $48.60 and a 12-month high of $67.89. The firm has a market cap of $15.33 billion, a P/E ratio of 18.02, a P/E/G ratio of 2.75 and a beta of 0.66. The stock has a 50-day moving average price of $62.82 and a 200 day moving average price of $61.66. 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 Trading of Evergy

Several large investors have recently bought and sold shares of EVRG. Lee Danner & Bass Inc. bought a new position in shares of Evergy in the 4th quarter worth about $26,000. National Pension Service purchased a new stake in Evergy in the fourth quarter worth about $30,000. Bank of Jackson Hole Trust bought a new position in shares of Evergy during the fourth quarter valued at approximately $31,000. Truvestments Capital LLC purchased a new position in shares of Evergy during the third quarter valued at approximately $32,000. Finally, Colonial Trust Co SC bought a new stake in shares of Evergy in the 4th quarter worth approximately $32,000. 87.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

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.