Skip to main content

Evergy, Inc. (EVRG) Stock

Evergy, Inc. Stock Details, Movements and Public Alerts

Evergy Inc (EVRG): The $19B Midwest Utility Powering Kansas and Missouri's Clean Energy Transition

When Kansas City flips the switch or Wichita powers its industries, Evergy keeps the electrons flowing through 48,000 miles of distribution lines serving 1.7 million customers across the heartland. CEO David Campbell has transformed the former Great Plains Energy and Westar merger into a clean energy leader, with Wolf Creek nuclear providing 24/7 baseload power while Evergy builds one of America's largest utility-owned wind portfolios. The company's 2024 Sustainability Transformation Plan commits $11B in capital through 2028, targeting 70% carbon reduction from 2005 levels while maintaining top-quartile reliability. Trading at 15x forward earnings with a 4.5% dividend yield and regulated rate recovery mechanisms, Evergy offers income investors defensive utility exposure to Midwest economic growth driven by data centers, reshoring manufacturing, and agricultural processing. The Kansas Corporation Commission and Missouri PSC provide constructive regulatory environments, supporting the earned returns on equity needed to fund grid modernization and renewable expansion.

52-Week Range

$78.59 - $57.40

-5.69% from high · +29.13% from low

Avg Daily Volume

2,029,791

Latest volume

Fundamentals

Valuation Metrics

P/E Ratio (TTM)

20.10

Near market average

Forward P/E

17.12

Earnings expected to grow

PEG Ratio

2.38

Potentially overvalued

Price to Book

1.65

EV/EBITDA

11.70

EPS (TTM)

$3.65

Price to Sales

2.87

Beta

0.63

Less volatile than market

How is EVRG valued relative to its earnings and growth?
Evergy, Inc. trades at a P/E ratio of 20.10, which is near the market average of approximately 20, suggesting the market views it as fairly valued relative to its earnings. Looking ahead, the forward P/E of 17.12 is lower than the current P/E, indicating analysts expect earnings to grow over the next year. The PEG ratio of 2.38 indicates a premium valuation even accounting for growth.
What is EVRG's risk profile compared to the market?
With a beta of 0.63, Evergy, Inc. is less volatile than the overall market. This means when the market moves up or down by 10%, this stock typically moves less than 10% in the same direction. Lower beta stocks are often preferred by conservative investors seeking stability. The price-to-book ratio of 1.65 shows investors value the company above its book value, which often reflects intangible assets or growth prospects.

Performance & Growth

Profit Margin

14.40%

Operating Margin

36.20%

EBITDA

$2.71B

Return on Equity

8.45%

Return on Assets

2.87%

Revenue Growth (YoY)

-0.10%

Earnings Growth (YoY)

0.50%

How profitable and efficient is EVRG's business model?
Evergy, Inc. achieves a profit margin of 14.40%, meaning it retains $14.40 from every $100 in revenue after all expenses. This represents a solid margin typical of well-run businesses, showing the company can effectively balance revenue generation with cost control. The operating margin of 36.20% reveals how efficiently the company runs its core business operations before interest and taxes. With ROE at 8.45% and ROA at 2.87%, the company achieves moderate returns on invested capital.
What are EVRG's recent growth trends?
Evergy, Inc.'s revenue declined by 0.10% year-over-year, indicating challenges in maintaining sales momentum. This contraction may reflect market headwinds, competitive pressures, or strategic transitions. Earnings increased by 0.50% year-over-year, outpacing revenue growth through improved margins. These growth metrics should be evaluated against UTILITIES - REGULATED ELECTRIC industry averages for proper context.

Dividend Information

Dividend Per Share

$2.67

Dividend Yield

3.63%

Ex-Dividend Date

Nov 21, 2025

Dividend Date

Dec 19, 2025

What dividend income can investors expect from EVRG?
Evergy, Inc. offers a dividend yield of 3.63%, paying $2.67 per share annually. This above-average yield of 2-4% provides meaningful income while still allowing the company to reinvest for growth. It compares favorably to the S&P 500 average and offers competitive returns versus bonds in the current rate environment. To receive the next dividend, shares must be purchased before the ex-dividend date of Nov 21, 2025.
How reliable is EVRG's dividend for long-term investors?
The dividend sustainability can be assessed through the payout ratio - Evergy, Inc. pays $2.67 per share in dividends against earnings of $3.65 per share, resulting in a payout ratio of 73.15%. This high payout ratio of 60-90% leaves limited earnings for reinvestment. While currently sustainable, there's less buffer for dividend growth or protection during earnings downturns. The next dividend payment is scheduled for Dec 19, 2025.

Company Size & Market

Market Cap

$16.9B

Revenue (TTM)

$5.88B

Revenue/Share (TTM)

$25.52

Shares Outstanding

230.21M

Book Value/Share

$44.70

Asset Type

Common Stock

What is EVRG's market capitalization and position?
Evergy, Inc. has a market capitalization of $16.9B, classifying it as a large-cap stock ($10B-$200B). Large-caps are typically industry leaders with established business models, offering a balance of stability and growth potential. They often provide dividend income and are core holdings in institutional portfolios. With 230.21M shares outstanding, the company's ownership is relatively concentrated. As a participant in the UTILITIES - REGULATED ELECTRIC industry, it competes with other firms in this sector.
How does EVRG's price compare to its book value?
Evergy, Inc.'s book value per share is $44.70, while the current stock price is $74.12, resulting in a price-to-book (P/B) ratio of 1.66. This reasonable premium to book value suggests the market values the company's earnings power and intangible assets appropriately. Most profitable companies trade between 1-3x book value. As a common stock, this represents equity ownership with voting rights.

Analyst Ratings

Analyst Target Price

$84.32

13.76% upside potential

Analyst Recommendations

Strong Buy

2

Buy

7

Hold

3

Sell

0

Strong Sell

1

How reliable are analyst predictions for EVRG?
13 analysts cover EVRG with 69% recommending buy/strong buy ratings. Analyst predictions have mixed reliability - studies show consensus rarely beats market returns consistently. The mixed views reflect uncertainty about the outlook. The consensus target of $84.32 implies 13.8% upside, but targets are often adjusted to follow price moves rather than predict them.
What is the Wall Street consensus on EVRG?
Current analyst recommendations:2 Strong Buy, 7 Buy, 3 Hold, 01 Strong Sell. The bullish tilt suggests optimism about future prospects, though investors should conduct independent research.Remember that analyst opinions often lag price movements and can be influenced by investment banking relationships.

Fundamentals last updated: Dec 13, 2025, 08:26 AM

Active Alerts

No active alerts for this stock.

Be the first to set up an alert for EVRG and get notified when the price changes.

Evergy Inc (EVRG) Stock Analysis 2025: Midwest Utility Investment Guide

The Midwest's Clean Energy Utility

Evergy emerged from the 2018 merger of Great Plains Energy and Westar Energy, creating the largest electric utility in Kansas while also serving the Missouri side of the Kansas City metropolitan area. CEO David Campbell, who took the helm in 2021 after a career at Luminant and Vistra, has accelerated the clean energy transition while maintaining the financial discipline that utility investors demand. The company operates approximately 12,000 MW of generation capacity, with Wolf Creek Nuclear Generating Station providing roughly 47% of carbon-free electricity and wind farms contributing another 25%+ as Evergy builds toward 70% emissions reduction by 2030.

The service territory presents unique opportunities and challenges. Kansas offers abundant wind resources—consistently ranking among America's top wind energy states—enabling Evergy to add renewable capacity at costs competitive with or below gas generation. Missouri's larger population centers drive load growth from residential, commercial, and industrial customers. Both states have passed legislation supporting utility renewable investments, with Kansas eliminating property taxes on utility-scale wind and Missouri enabling securitization financing for coal plant retirements. CEO David Campbell's strategy leverages these advantages to grow rate base while reducing fuel costs and environmental exposure.

Business Model & Competitive Position

Evergy operates as a vertically integrated regulated utility, owning generation, transmission, and distribution assets across its service territory. This model provides earnings visibility through allowed returns on rate base, typically 9.5-10% ROE in Kansas and Missouri. Revenue stability comes from the essential nature of electric service—customers must pay their bills regardless of economic conditions. The company earns approximately 55% of revenues from Kansas operations (through Evergy Kansas Central and Evergy Kansas South) and 45% from Missouri (Evergy Metro and Evergy Missouri West).

Competitive advantages stem from regulatory relationships, generation efficiency, and scale. Evergy maintains constructive relationships with the Kansas Corporation Commission and Missouri Public Service Commission, achieving timely rate case outcomes and approval for rider mechanisms that reduce regulatory lag. Wolf Creek nuclear provides the lowest marginal cost generation in the fleet, operating at 90%+ capacity factors while producing zero carbon emissions. The combined company achieved $200M+ in merger synergies through operational efficiencies, procurement savings, and technology standardization.

Financial Performance

  • •Revenue: $5.8B annually with 2-3% growth from rate base expansion and modest load growth
  • •Earnings: $3.60-3.80 EPS with 4-6% annual growth target through 2028 capital plan execution
  • •Rate Base: $17B+ growing to $22B+ by 2028 through $11B infrastructure investment program
  • •Dividend: $2.55/share annually (4.5% yield) with 60-70% payout ratio and 5-7% growth guidance
  • •Balance Sheet: 15-16% FFO/debt ratio maintaining investment-grade credit ratings (Baa2/BBB)
  • •Valuation: 15x forward P/E and 10x EV/EBITDA, in-line with regulated utility peers

Growth Catalysts

  • •Data Center Demand: Kansas City emerging as Midwest data center hub driving 500+ MW of new load growth potential
  • •Renewable Expansion: 3,000+ MW of solar and wind additions planned through 2028 at attractive regulated returns
  • •Grid Modernization: $2B+ transmission investment for reliability and renewable integration creating rate base growth
  • •Manufacturing Reshoring: Agricultural processing, battery manufacturing, and logistics facilities expanding in service territory
  • •Coal Retirement Savings: Remaining coal fleet retirements reduce fuel costs and enable replacement with lower-cost renewables

Risks & Challenges

  • •Regulatory Execution: Achieving constructive rate case outcomes essential; adverse decisions could compress earned returns
  • •Wolf Creek Concentration: Single nuclear plant provides 47% of generation; extended outages significantly impact costs
  • •Weather Variability: Extreme heat/cold drives earnings volatility; 2021 Winter Storm Uri demonstrated weather exposure
  • •Interest Rate Sensitivity: Capital-intensive business model vulnerable to higher financing costs on $9B+ debt
  • •Load Growth Uncertainty: Population growth modest in Kansas; large customer additions lumpy and unpredictable

Competitive Landscape

Regional utility peers include Xcel Energy (Upper Midwest and Texas), Ameren (Missouri and Illinois), and OGE Energy (Oklahoma). Evergy differentiates through its wind resource advantage—Kansas consistently ranks top-5 nationally in wind potential—and Wolf Creek nuclear's zero-carbon baseload. Among peers, Evergy offers competitive dividend yield (4.5% vs. 3-4% for Xcel and Ameren) while maintaining similar EPS growth guidance (4-6%). However, Evergy's smaller service territory and slower population growth limit the load growth upside available to faster-growing Sunbelt utilities.

CEO David Campbell has positioned Evergy as an ESG leader among Midwest utilities through aggressive decarbonization targets and transparent sustainability reporting. The company's inclusion in major sustainability indices and favorable ratings from ISS and MSCI support access to ESG-focused capital. However, Evergy competes for investor attention with larger peers like NextEra and Duke that offer more liquidity and analyst coverage.

Who Is This Stock Suitable For?

Perfect For

  • ✓Income-focused investors seeking 4.5%+ dividend yield with growth
  • ✓Conservative portfolios wanting regulated utility stability
  • ✓ESG investors attracted to 70% carbon reduction commitment
  • ✓Retirees building defensive income streams with inflation protection

Less Suitable For

  • ✗Growth investors seeking double-digit earnings expansion
  • ✗Momentum traders looking for price volatility and breakouts
  • ✗Investors uncomfortable with interest rate sensitivity
  • ✗Those seeking immediate catalysts or M&A speculation

Investment Thesis

Evergy offers classic regulated utility characteristics—predictable earnings, growing dividends, and defensive positioning—enhanced by clean energy transition tailwinds. CEO David Campbell's $11B capital plan drives 4-6% EPS growth through rate base expansion while the 4.5% dividend yield provides current income exceeding Treasury yields. Wolf Creek nuclear ensures baseload stability while Midwest wind resources enable renewable expansion at competitive costs. The combination creates a compelling total return profile for income-oriented investors.

The primary investment debate centers on growth versus yield trade-offs. Evergy's higher dividend yield (4.5% vs. 3-3.5% for premium utilities) reflects the slower service territory growth in Kansas and Missouri compared to Sunbelt markets. However, data center expansion in Kansas City and manufacturing reshoring could accelerate load growth beyond modest historical trends. For investors prioritizing income with inflation-protected growth, Evergy merits consideration as a core utility holding. The stock trades at fair value around 15x earnings, suggesting patient investors can accumulate shares and collect dividends while awaiting catalysts.

Conclusion

Evergy is a HOLD/BUY for income investors seeking regulated utility exposure with above-average yield. The 4.5% dividend yield exceeds most utility peers while 4-6% EPS growth provides inflation protection. CEO David Campbell's clean energy strategy positions Evergy for long-term value creation, though near-term catalysts are limited. Accumulate on weakness below $75 for attractive total return potential; current valuation around 15x earnings offers fair value for quality utility assets.
Bull Case
$88 (15% upside) - Data center load growth accelerates, rate cases exceed allowed ROE
Base Case
$80 (5% upside) - Steady 4-6% growth, capital plan execution, dividend grows 5-7%
Bear Case
$65 (15% downside) - Adverse rate cases, Wolf Creek outage, interest rates stay elevated

Stay Ahead of the Market with Evergy, Inc. Alerts

Set up price alerts for Evergy, Inc. and get notified instantly when the price hits your target. Never miss an important price movement again.