Monthly Stock Report: Evergy, Inc. (EVRG)

Publication Date: September 22, 2024

Company Overview

Evergy, Inc. (EVRG), based in Kansas City, Missouri, is a public utility founded in 2017, serving the diverse electricity needs of residential, commercial, and industrial customers across the United States. The company generates and distributes power from a balanced mix of energy sources, including coal, natural gas, uranium, oil, landfill gas, and renewables like solar and wind. Evergy operates within the regulated electric utilities sector, a domain backed by stability and potential for steady returns, making it an attractive option for conservative investors. With a strong revenue stream of approximately $5.64 billion, Evergy continues to play a vital role in the energy landscape while leveraging its historical foundation dating back to 1909, officially entering the stock market on June 5, 2018.

Investment Summary

Evergy’s current stock price is $61.65, with analysts projecting a target high of $70.00, indicating a promising upside potential. The target mean price stands at $63.32, suggesting modest gains ahead, while the recommendation key points to a “buy” sentiment, backed by a positive average recommendation score of 2.3 from nine analysts. With 229,958,000 shares outstanding and a relatively low short interest of 4.18%, market sentiment appears favorable. The asset’s fifty-two week high of $62.24 reflects strong recent performance, and the fifty-day moving average of $58.55 confirms a positive trend. Notably, an increase from the fifty-two week low of $46.92 signifies growing investor confidence. Together, these indicators provide an optimistic outlook for Evergy, positioning the company as a solid choice for portfolio diversification.

Market Outlook

The regulated electric utilities sector remains resilient, with Evergy illustrating robust financial performance capable of weathering economic fluctuations. Investing in Evergy not only opens avenues for capital appreciation but also ensures reliable income streams that are characteristic of utility stocks. As the energy sector evolves with a tilt towards renewable sources, Evergy is well positioned to meet changing consumer demands and regulatory landscapes. Overall, the combination of positive analyst projections, stable revenue generation, and consistent performance makes Evergy, Inc. (EVRG) a compelling consideration for investors seeking both growth and stability in their portfolios.

Metric	Value
Market Cap	$14.2b
Total Debt	$14.1b
Total Cash	$26.1m
Shares Outstanding	230.0m
Float Shares	228.9m