Evergy (NASDAQ:EVRG) Sets New 52-Week High Following Analyst Upgrade

Evergy (NASDAQ:EVRG) reached a new 52-week high during trading on Friday after UBS Group raised their price target on the stock from $65.00 to $68.00. UBS Group currently has a neutral rating on the stock. Evergy traded as high as $66.38 and last traded at $65.59, with a volume of 445543 shares trading hands. The stock had previously closed at $65.55.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Evergy from a “sell” rating to a “hold” rating and set a $68.00 price objective for the company in a research note on Wednesday, August 14th. Wells Fargo & Co set a $69.00 target price on shares of Evergy and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. SunTrust Banks increased their target price on shares of Evergy from $66.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Guggenheim increased their target price on shares of Evergy from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Evergy has an average rating of “Hold” and a consensus target price of $65.71.

In other Evergy news, EVP Greg A. Greenwood sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $63.23, for a total value of $379,380.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kevin E. Bryant sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $65.18, for a total value of $260,720.00. The disclosure for this sale can be found here.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. boosted its stake in shares of Evergy by 66.3% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 424 shares of the company’s stock valued at $26,000 after buying an additional 169 shares during the last quarter. CWM LLC boosted its stake in shares of Evergy by 325.0% during the 2nd quarter. CWM LLC now owns 425 shares of the company’s stock valued at $26,000 after buying an additional 325 shares during the last quarter. Bremer Bank National Association bought a new position in Evergy during the first quarter worth $37,000. Centersquare Investment Management LLC bought a new position in Evergy during the first quarter worth $38,000. Finally, Icon Wealth Partners LLC bought a new position in Evergy during the first quarter worth $40,000.

The company has a 50 day moving average of $63.82 and a 200-day moving average of $59.99.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.02). The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the business earned $0.67 EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 2.90%. The ex-dividend date is Thursday, August 29th.

About Evergy (NASDAQ:EVRG)

Westar Energy, Inc engages in the generation, transmission and distribution of electricity in Kansas. It provides electricity to residential, commercial, and industrial customers in the cities of Topeka, Lawrence, Manhattan, Salina, and Hutchinson. The company was founded in 1924 and is headquartered in Topeka, KS.

Read More: What is a Market Correction?

Receive News & Ratings for Evergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evergy and related companies with MarketBeat.com's FREE daily email newsletter.