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

Evergy, Inc. (NASDAQ:EVRG) was the target of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 9,600,000 shares, a decrease of 6.3% from the January 15th total of 10,240,000 shares. Approximately 4.2% of the shares of the stock are sold short. Based on an average trading volume of 1,870,000 shares, the days-to-cover ratio is presently 5.1 days.

Evergy Trading Up 0.6 %

Shares of EVRG opened at $67.07 on Wednesday. Evergy has a fifty-two week low of $48.60 and a fifty-two week high of $67.89. The firm has a market cap of $15.42 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 2.80 and a beta of 0.66. The firm has a 50 day moving average price of $62.91 and a 200-day moving average price of $61.71. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55.

Analyst Ratings Changes

A number of analysts have recently issued reports on EVRG shares. Guggenheim upgraded Evergy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. LADENBURG THALM/SH SH upgraded shares of Evergy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $59.00 to $68.50 in a research report on Thursday, January 2nd. Mizuho started coverage on shares of Evergy in a report on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 price target on the stock. Finally, Barclays lowered their price objective on shares of 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 issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.36.

Hedge Funds Weigh In On Evergy

Large investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC grew its stake in shares of Evergy by 391.1% during the third 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 last quarter. Bank of Montreal Can grew its position in 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 acquiring an additional 224,679 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Evergy by 34.0% in 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 period. Hennion & Walsh Asset Management Inc. lifted its position in Evergy by 23.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 10,692 shares of the company’s stock valued at $658,000 after purchasing an additional 2,004 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Evergy by 15,406.4% during the fourth quarter. SG Americas Securities LLC now owns 921,546 shares of the company’s stock valued at $56,721,000 after purchasing an additional 915,603 shares during the period. Hedge funds and other institutional investors own 87.24% of the company’s stock.

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.