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Evergy
(NASDAQ:EVRG)
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Rating:61Neutral
Price Target:
$87.00
▼(-0.21% Downside)
Action:Reiterated
Date:08/11/26
EVRG scores moderately: the strongest driver is constructive earnings-call outlook (reaffirmed guidance, expanding large-customer pipeline, and multi-year growth targets). This is tempered by financial funding pressure from persistently negative free cash flow and rising leverage, while technical signals remain weak/oversold and valuation is only modestly supportive (moderate P/E with a solid dividend yield).
Positive Factors
Regulated utility model
Evergy’s regulated business model produces predictable cash flows and rate‑base driven earnings. Long‑term revenue and returns are anchored by approved tariffs, riders and authorized ROE, reducing commodity exposure and supporting multi‑year capital recovery and earnings stability.
Negative Factors
Persistent negative free cash flow
Chronic negative free cash flow signals capital spending outpacing internally generated cash. Over time this increases reliance on debt/equity raises, compresses financial flexibility, and can elevate refinancing and dilution risks if capex needs or storm recovery costs persist.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated utility model
Evergy’s regulated business model produces predictable cash flows and rate‑base driven earnings. Long‑term revenue and returns are anchored by approved tariffs, riders and authorized ROE, reducing commodity exposure and supporting multi‑year capital recovery and earnings stability.
Read all positive factors
Evergy Key Performance Indicators (KPIs)
Any
Revenue by Segment
Shows how much revenue each business segment generates, highlighting which areas drive growth and profitability, and indicating strategic focus or potential vulnerabilities.
Shows how much revenue each business segment generates, highlighting which areas drive growth and profitability, and indicating strategic focus or potential vulnerabilities.
Data provided by:
The Fly
The FlyEvergy (EVRG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$19.37B
Dividend Yield3.28%
Average Volume (3M)2.06M
Price to Earnings (P/E)20.9
Beta (1Y)0.13
Revenue Growth3.60%
EPS Growth10.06%
CountryUS
Employees4,691
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)4.02
Shares Outstanding230,513,030
10 Day Avg. Volume1,979,691
30 Day Avg. Volume2,063,455
Financial Highlights & Ratios
PEG Ratio-9.26
Price to Book (P/B)1.63
Price to Sales (P/S)2.82
P/FCF Ratio-22.23
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$93.11Price Target Upside6.80% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)4.26
Revenue Forecast (FY)$6.25B
Evergy Business Overview & Revenue Model
Company Description
Evergy, Inc., along with its subsidiaries, operates as an integrated electric utility, focusing on the production, conveyance, distribution, and direct sale of power throughout Kansas and Missouri in the United States. The company's electricity ge...
How the Company Makes Money
Evergy primarily makes money by providing regulated electric utility service and collecting customer billings that are set through state utility regulation. The largest revenue stream is retail electricity sales (bundled energy and delivery servic...
Evergy Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call emphasized strong operational execution, robust demand momentum from large data-center and industrial customers, reaffirmed 2026 guidance, and an expanded multi‑GW pipeline that supports high near‑term and long‑term load and earnings growth. Key negatives include higher O&M, depreciation and interest costs that trimmed near‑term EPS benefits, elevated capital intensity (incremental generation CapEx) and regulatory/siting timelines that add execution risk. Overall, management portrayed confidence in executing growth while maintaining affordability, though investors should monitor capital funding and regulatory outcomes.Positive Updates
Quarterly Adjusted Earnings and EPS Growth
Q2 adjusted earnings of $209 million ($0.88 per share) versus $191 million ($0.82) in Q2 2025 — earnings up ~9.4% and EPS up ~7.3% year-over-year; management reaffirmed 2026 midpoint adjusted EPS guidance of $4.24.
Negative Updates
Higher Operating Costs and Depreciation Pressure
Higher operations & maintenance plus increased depreciation and interest expense (net of AFUDC) drove a $0.08 per share EPS headwind in Q2.
Read all updates
Q2-2026 Updates
Positive
Negative
Quarterly Adjusted Earnings and EPS Growth
Q2 adjusted earnings of $209 million ($0.88 per share) versus $191 million ($0.82) in Q2 2025 — earnings up ~9.4% and EPS up ~7.3% year-over-year; management reaffirmed 2026 midpoint adjusted EPS guidance of $4.24.
Read all positive updates
Company Guidance
Evergy reaffirmed its 2026 outlook and provided multi‑year targets: Q2 adjusted EPS was $0.88 (vs. $0.82 a year ago), leaving the company on track for 2026 adjusted EPS guidance of $4.14–$4.34 (midpoint $4.24), with Q3 guidance at 50%–53% of that $4.24 midpoint; management reaffirmed long‑term adjusted EPS growth of 6%–8%+ through 2030 off the $4.24 midpoint and expects >8% annual EPS growth beginning in 2028, with an approximate 250 bps delta between rate base growth and EPS growth. Capital and credit metrics: a $21.6 billion five‑year CapEx plan plus ~ $1 billion incremental generation capital (raising rate base CAGR through 2030 to ~12% from 11.5%), FFO-to-debt projected at ~14%–15% (2026–2028), and ATM equity execution of ~$425 million priced to settle in 2026 toward a $700–$900 million equity need. Load and resource metrics: five signed ESAs representing ~2.5 GW steady‑state peak (3.0 GW including ~500 MW non‑LLPS customers), retail load growth CAGR of ~7%–8% through 2030, IRP preferred additions through 2032 of >5 GW (≈3.9 GW natural gas, ≈800 MW solar, ≈450 MW battery storage), 2.0–2.5 GW of expansion opportunities (up from 1–1.5 GW), Tier 2 opportunities of ~1–2 GW and a remaining pipeline of well over 10 GW. On rates, management expects the substantial majority of residential customers to see increases in line with or below inflation, though Missouri West may experience above‑inflation increases over the next five years.Evergy Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
58
Neutral
Cash Flow
41
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.07B | 5.92B | 5.82B | 5.49B | 5.86B | 5.59B |
| Gross Profit | 2.43B | 1.91B | 1.90B | 1.67B | 1.70B | 1.74B |
| EBITDA | 2.82B | 2.73B | 2.64B | 2.42B | 2.19B | 2.32B |
| Net Income | 925.80M | 855.60M | 873.50M | 731.30M | 752.70M | 879.70M |
Balance Sheet | ||||||
| Total Assets | 35.35B | 35.44B | 32.28B | 30.98B | 29.49B | 28.52B |
| Cash, Cash Equivalents and Short-Term Investments | 21.80M | 25.40M | 22.00M | 27.70M | 25.20M | 26.20M |
| Total Debt | 16.50B | 15.44B | 14.07B | 13.15B | 12.04B | 11.17B |
| Total Liabilities | 25.08B | 25.17B | 22.29B | 21.29B | 20.00B | 19.28B |
| Stockholders Equity | 10.22B | 10.22B | 9.96B | 9.66B | 9.48B | 9.24B |
Cash Flow | ||||||
| Free Cash Flow | -1.41B | -751.70M | -352.90M | -353.80M | -364.60M | -620.80M |
| Operating Cash Flow | 1.98B | 2.05B | 1.98B | 1.98B | 1.80B | 1.35B |
| Investing Cash Flow | -2.96B | -2.57B | -2.26B | -2.47B | -2.15B | -1.91B |
| Financing Cash Flow | 972.70M | 522.00M | 280.30M | 494.00M | 349.30M | 443.40M |
Evergy Technical Analysis
Positive
87.18
Price Trends
84.63
Negative
83.08
Positive
79.45
Positive
Market Momentum
-0.54
Positive
49.58
Neutral
65.66
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EVRG, the sentiment is Positive. The current price of 87.18 is above the 20-day moving average (MA) of 84.19, above the 50-day MA of 84.63, and above the 200-day MA of 79.45, indicating a neutral trend. The MACD of -0.54 indicates Positive momentum. The RSI at 49.58 is Neutral, neither overbought nor oversold. The STOCH value of 65.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for EVRG.
Evergy Risk Analysis
Evergy disclosed 26 risk factors in its most recent earnings report. Evergy reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Evergy Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
63 Neutral | $9.81B | 20.74 | 9.56% | 3.45% | 0.63% | -6.14% | |
62 Neutral | $22.30B | 21.04 | 11.02% | 2.98% | 9.93% | -1.74% | |
62 Neutral | $27.10B | 27.94 | 8.53% | 3.08% | 6.73% | 26.95% | |
61 Neutral | $19.37B | 20.90 | 9.06% | 3.16% | 3.60% | 10.06% | |
60 Neutral | $12.30B | 19.08 | 9.04% | 3.44% | 5.69% | 6.83% | |
59 Neutral | $18.31B | 22.27 | 11.04% | 2.78% | 6.83% | -2.08% |
* Utilities Sector Average
EVRG
Evergy
83.93
14.97
21.71%
LNT
Alliant Energy
70.35
7.86
12.59%
CMS
CMS Energy
71.40
1.55
2.22%
OGE
OGE Energy
47.35
4.38
10.20%
PNW
Pinnacle West Capital
100.41
13.45
15.46%
PPL
PPL
35.95
0.82
2.35%
Evergy Corporate Events
Business Operations and StrategyDividendsFinancial Disclosures
Evergy Posts Higher Q2 Earnings and Reaffirms Guidance
Positive
Aug 6, 2026
Evergy reported that on August 6, 2026, second-quarter GAAP earnings rose to $215.0 million, or $0.91 per share, up from $171.3 million, or $0.74 per share, a year earlier, while adjusted EPS increased to $0.88 from $0.82. The improvement was driv...
Business Operations and StrategyPrivate Placements and Financing
Evergy Secures New Long-Term $3.5 Billion Credit Facility
Positive
Jul 1, 2026
On June 30, 2026, Evergy and its utility subsidiaries Evergy Missouri West, Evergy Metro and Evergy Kansas Central entered a new revolving credit facility of up to $3.5 billion with a bank syndicate led by Wells Fargo Bank, replacing prior arrange...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Evergy Kansas Central Issues $350 Million Mortgage Bonds
Positive
Jul 1, 2026
On July 1, 2026, Evergy Kansas Central issued $350 million of First Mortgage Bonds, 5.300% Series due 2036, under a shelf registration statement filed with U.S. securities regulators. The bonds were sold through a syndicate of major underwriters, ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.