Evergy (NASDAQ:EVRG) Reaches New 1-Year High – Should You Buy?

Evergy Inc. (NASDAQ:EVRG) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $79.39 and last traded at $79.00, with a volume of 554159 shares changing hands. The stock had previously closed at $78.75.

Wall Street Analyst Weigh In

EVRG has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of Evergy from $77.00 to $79.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Evergy in a report on Monday, December 29th. Citigroup lifted their target price on Evergy from $79.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, November 10th. UBS Group cut Evergy from a “buy” rating to a “neutral” rating and increased their price target for the company from $86.00 to $88.00 in a research note on Friday. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $91.00 price objective on shares of Evergy in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $84.25.

Evergy Stock Up 2.5%

The firm has a market cap of $19.04 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 3.27 and a beta of 0.66. The firm has a 50 day moving average of $74.99 and a 200 day moving average of $74.72. The company has a quick ratio of 0.30, a current ratio of 0.52 and a debt-to-equity ratio of 1.20.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVRG. Kestra Advisory Services LLC raised its position in shares of Evergy by 9.3% during the fourth quarter. Kestra Advisory Services LLC now owns 15,705 shares of the company’s stock worth $1,138,000 after purchasing an additional 1,340 shares during the period. Burton Enright Welch acquired a new stake in Evergy in the 4th quarter valued at $211,000. Transamerica Financial Advisors LLC increased its stake in Evergy by 163.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 529 shares of the company’s stock valued at $38,000 after purchasing an additional 328 shares in the last quarter. Bridgewater Associates LP acquired a new position in Evergy during the fourth quarter worth $7,888,000. Finally, Stifel Financial Corp lifted its stake in shares of Evergy by 1.5% in the fourth quarter. Stifel Financial Corp now owns 322,420 shares of the company’s stock valued at $23,373,000 after buying an additional 4,902 shares in the last quarter. Institutional investors own 87.24% of the company’s stock.

About Evergy

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company’s business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.