Last Updated: 19 Sep 2024
Executive Summary
Evergy, Inc. (EVRG) is a publicly traded investor-owned utility headquartered in Kansas and Missouri. The company has a market capitalization of approximately $14.15 billion and operates in the electric and other services industry. EVRG's stock price currently stands at $61.55.
Company Overview
Evergy provides electricity to approximately 1.6 million customers in Kansas and Missouri. The company also owns and operates a regulated natural gas distribution system in Kansas. Evergy's primary business segments include:
Electric Utility: This segment generates, transmits, and distributes electricity to retail and wholesale customers.
Natural Gas Utility: This segment distributes natural gas to residential, commercial, and industrial customers.
Fundamental Analysis
Revenue: Evergy's revenue has grown steadily in recent years, reaching $5.64 billion in the trailing twelve months (TTM).
Earnings: The company's diluted EPS has also increased, reaching $3.20 in the TTM.
Profitability: Evergy's profit margin and operating margin are both healthy, indicating strong profitability.
Valuation: The stock is currently trading at a trailing P/E ratio of 19.23, which is slightly above the industry average. However, the forward P/E ratio of 15.2 suggests potential for future growth.
Technical Analysis
Technical Indicators: The 50-day moving average is currently at $58.26, while the 200-day moving average is at $53.67. These indicators suggest that the stock is currently in a bullish trend.
Support and Resistance: The stock has recently found support at around $58.00 and resistance at around $62.00.
Momentum: The relative strength index (RSI) is currently at 55, indicating that the stock is not overbought or oversold.
Short Term Outlook
In the short term, Evergy's stock is expected to continue its bullish trend. The stock is currently trading above both its 50-day and 200-day moving averages, and the RSI indicates that it is not overbought. Additionally, the company's strong financial performance and positive analyst sentiment are supportive of the stock's short-term prospects.
Long Term Outlook
Evergy's long-term outlook is also positive. The company's regulated business model provides it with stable cash flows, and its focus on renewable energy and energy efficiency initiatives is expected to drive long-term growth. Additionally, the company's strong financial position and commitment to shareholder returns are supportive of its long-term prospects.
Analyst Recommendations
Analysts are generally positive on Evergy's stock. Of the 10 analysts covering the stock, 1 has a strong buy rating, 2 have buy ratings, 7 have hold ratings, and none have sell or strong sell ratings. The average analyst target price is $61.92, which implies a potential upside of approximately 0.5%.
