Evergy (NASDAQ:EVRG) Sets New 52-Week High – Should You Buy?

Evergy Inc. (NASDAQ:EVRG) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $85.23 and last traded at $84.41, with a volume of 2803732 shares changing hands. The stock had previously closed at $84.01.

Analysts Set New Price Targets

Several research analysts have weighed in on EVRG shares. Mizuho set a $82.00 price target on shares of Evergy in a research report on Monday, February 23rd. Wells Fargo & Company boosted their price objective on shares of Evergy from $79.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, February 20th. Citigroup upped their price objective on Evergy from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. BMO Capital Markets lifted their target price on Evergy from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Monday, February 23rd. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $91.00 price target on shares of Evergy in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.88.

Evergy Stock Up 0.5%

The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.27 and a current ratio of 0.49. The company’s 50-day moving average price is $77.14 and its 200 day moving average price is $75.61. The stock has a market capitalization of $19.44 billion, a P/E ratio of 23.00, a P/E/G ratio of 3.33 and a beta of 0.65.

Evergy (NASDAQ:EVRG) last issued its earnings results on Saturday, January 31st. The company reported $0.42 earnings per share for the quarter. Evergy had a net margin of 14.35% and a return on equity of 8.79%. As a group, equities analysts expect that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Tuesday, March 10th will be given a dividend of $0.695 per share. The ex-dividend date is Tuesday, March 10th. This represents a $2.78 annualized dividend and a dividend yield of 3.3%. Evergy’s dividend payout ratio (DPR) is currently 75.75%.

Insider Transactions at Evergy

In related news, Director Ann D. Murtlow sold 2,847 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $82.34, for a total value of $234,421.98. Following the transaction, the director directly owned 2,311 shares of the company’s stock, valued at approximately $190,287.74. The trade was a 55.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.42% of the company’s stock.

Institutional Investors Weigh In On Evergy

Several institutional investors and hedge funds have recently modified their holdings of EVRG. Synergy Asset Management LLC grew its holdings in shares of Evergy by 100.0% in the third quarter. Synergy Asset Management LLC now owns 148,940 shares of the company’s stock valued at $11,322,000 after purchasing an additional 74,470 shares in the last quarter. Kingsview Wealth Management LLC purchased a new stake in Evergy during the second quarter valued at $246,000. Caprock Group LLC bought a new position in Evergy during the third quarter valued at $1,482,000. iA Global Asset Management Inc. grew its stake in shares of Evergy by 207.0% in the 3rd quarter. iA Global Asset Management Inc. now owns 22,624 shares of the company’s stock worth $1,720,000 after buying an additional 15,254 shares in the last quarter. Finally, Davis Capital Management bought a new stake in shares of Evergy in the 3rd quarter worth about $1,379,000. Institutional investors own 87.24% of the company’s stock.

Evergy Company Profile

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.