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

Evergy, Inc. (NASDAQ:EVRG) was the recipient of a significant 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 company’s shares are sold short. Based on an average trading volume of 1,870,000 shares, the short-interest ratio is presently 5.1 days.

Evergy Price Performance

EVRG opened at $67.07 on Wednesday. The company has a current ratio of 0.55, a quick ratio of 0.32 and a debt-to-equity ratio of 1.15. The company has a market cap of $15.42 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 2.80 and a beta of 0.66. The stock has a fifty day simple moving average of $62.91 and a two-hundred day simple moving average of $61.71. Evergy has a 12-month low of $48.60 and a 12-month high of $67.89.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. LADENBURG THALM/SH SH raised Evergy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $59.00 to $68.50 in a research note on Thursday, January 2nd. Mizuho assumed coverage on Evergy in a report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 target price for the company. Guggenheim raised Evergy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Barclays reduced 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 research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.36.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Lee Danner & Bass Inc. purchased a new stake in Evergy in the fourth quarter worth about $26,000. National Pension Service purchased a new stake in shares of Evergy in the 4th quarter worth approximately $30,000. Bank of Jackson Hole Trust purchased a new stake in shares of Evergy in the 4th quarter worth approximately $31,000. Truvestments Capital LLC bought a new position in Evergy during the 3rd quarter valued at approximately $32,000. Finally, Colonial Trust Co SC purchased a new position in Evergy during the fourth quarter valued at $32,000. 87.24% of the stock is currently owned by institutional investors.

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.