Reaves W H & Co. Inc. Acquires New Stake in Evergy Inc. $EVRG

Reaves W H & Co. Inc. acquired a new position in shares of Evergy Inc. (NASDAQ:EVRG) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 9,924 shares of the company’s stock, valued at approximately $754,000.

Several other hedge funds also recently made changes to their positions in the company. AlphaCore Capital LLC acquired a new position in shares of Evergy during the second quarter worth about $33,000. Sentry Investment Management LLC purchased a new stake in Evergy in the 3rd quarter valued at approximately $41,000. CYBER HORNET ETFs LLC acquired a new position in Evergy during the 2nd quarter worth approximately $42,000. Root Financial Partners LLC purchased a new position in shares of Evergy during the 3rd quarter worth approximately $44,000. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Evergy in the 2nd quarter valued at approximately $47,000. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Price Performance

Evergy stock opened at $77.15 on Tuesday. The firm has a market capitalization of $17.76 billion, a PE ratio of 21.14, a P/E/G ratio of 3.10 and a beta of 0.66. Evergy Inc. has a 52 week low of $61.94 and a 52 week high of $79.32. The firm’s 50-day simple moving average is $74.48 and its 200 day simple moving average is $74.48. The company has a quick ratio of 0.30, a current ratio of 0.52 and a debt-to-equity ratio of 1.20.

Analysts Set New Price Targets

EVRG has been the topic of a number of recent analyst reports. Citigroup upped their price objective on Evergy from $79.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Barclays boosted their target price on shares of Evergy from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, January 22nd. UBS Group increased their price target on shares of Evergy from $81.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. BMO Capital Markets boosted their price objective on shares of Evergy from $79.00 to $82.00 and gave the stock an “outperform” rating in a report on Tuesday, January 27th. Finally, Wells Fargo & Company upped their target price on shares of Evergy from $77.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.63.

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.