Evergy, Inc. (NASDAQ:EVRG) Short Interest Up 6.8% in January

Evergy, Inc. (NASDAQ:EVRG) was the recipient of a large growth in short interest in January. As of January 15th, there was short interest totalling 9,680,000 shares, a growth of 6.8% from the December 31st total of 9,060,000 shares. Based on an average daily volume of 1,790,000 shares, the short-interest ratio is currently 5.4 days. Approximately 4.3% of the shares of the stock are sold short.

Insider Activity at Evergy

In related news, EVP Kevin E. Bryant sold 48,141 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $62.93, for a total transaction of $3,029,513.13. Following the completion of the transaction, the executive vice president now owns 1 shares of the company’s stock, valued at approximately $62.93. This represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EVRG. Bank of Jackson Hole Trust purchased a new position in Evergy during the 4th quarter valued at about $31,000. Truvestments Capital LLC acquired a new stake in shares of Evergy during the third quarter worth approximately $32,000. Hexagon Capital Partners LLC grew its position in Evergy by 47.1% during the third quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock valued at $33,000 after purchasing an additional 170 shares in the last quarter. Sentry Investment Management LLC acquired a new position in Evergy in the 3rd quarter valued at approximately $51,000. Finally, USA Financial Formulas purchased a new stake in Evergy in the 4th quarter worth approximately $73,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Analysts Set New Price Targets

EVRG has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Guggenheim raised shares of Evergy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. LADENBURG THALM/SH SH raised Evergy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $59.00 to $68.50 in a report on Thursday, January 2nd. Barclays reduced their target price on Evergy from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Finally, Mizuho initiated coverage on Evergy in a report on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 price target for the company. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.36.

Evergy Trading Up 1.1 %

NASDAQ:EVRG opened at $64.87 on Tuesday. The stock has a market cap of $14.92 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 2.69 and a beta of 0.66. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. The business has a fifty day moving average of $62.41 and a 200-day moving average of $61.02. Evergy has a 1 year low of $48.04 and a 1 year high of $65.47.

Evergy (NASDAQ:EVRG) last released its earnings results on Thursday, November 7th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.95 by $0.07. Evergy had a net margin of 14.77% and a return on equity of 8.77%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the business earned $1.88 earnings per share. The business’s quarterly revenue was up 8.5% on a year-over-year basis. Equities analysts predict that Evergy will post 3.84 earnings per share for the current year.

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.