ALTSTATION.IO

Evergy, Inc. (EVRG) Stock Analysis

By Nova Skye | AltStation.io | Updated October 10, 2026

Price

$80.78

Change

+0.32%

Market Cap

$18.63B

Avg Volume

2.1M

Company Overview

Evergy generates, transmits, and delivers electricity to roughly 1.7 million customers across eastern Kansas and western Missouri. Headquartered in Kansas City, Missouri, the company operates squarely in the regulated electric utilities sector. Its revenue comes from selling power to residential homes, commercial businesses, and industrial facilities, alongside municipal contracts and wholesale utility buyers. The electricity is generated through a diversified mix of wind, solar, nuclear, natural gas, coal, and landfill gas assets.

Evergy operates as a regulated monopoly across a 28,130-square-mile service territory, completely shielding it from direct retail competition. Because retail customers cannot switch electricity providers, the company enjoys exceptionally stable demand and predictable revenues. Its primary operational constraints come from state regulators rather than rival utilities, specifically rate-case decisions by the Kansas Corporation Commission and the Missouri Public Service Commission. While it interacts with wholesale suppliers through the Southwest Power Pool regional market, its core business risk is regulatory pushback on rate hikes rather than lost market share.

Right now, Evergy is pivoting its generation fleet away from coal and channeling capital into grid modernization and renewable power. Formed through the 2018 merger of Westar Energy and Great Plains Energy, the utility relies on continuous infrastructure spending to expand its rate base. That capital program supports steady asset growth, though elevated interest rates and regulatory scrutiny on customer utility bills present persistent headwinds. The company offers a classic defensive profile: reliable, rate-regulated cash flow paired with modest baseline electricity demand growth.

Key Financials

Market Cap

$18.63B

Revenue

$6.09B

EBITDA

$2.84B

Gross Margin

52.7%

Profit Margin

15.2%

Revenue Growth

4.4%

Total Cash

$21.80M

Total Debt

$16.50B

Free Cash Flow

-$1.44B

52-Week Price Performance Analysis

Price Statistics

P/E Ratio

20.55

Forward P/E

17.73

Beta

0.48

52-Week High

$88.62

52-Week Low

$71.41

EPS

$3.93

50-Day Avg

$81.22

200-Day Avg

$81.23

Price/Book

1.82

Technical Analysis

EVRG trades at $80.78, 62% of the way from its technical 52-week low of $69.64 to its high of $87.89. The stock is 7.88% below that high and 16.25% above the low. Price sits 1.90% above the 20-day moving average of $79.45. Five-day momentum is positive at 2.26%, but 20-day momentum remains negative at 0.81%. Near-term support is $77.66, while resistance sits at $82.24.

Recent News and Developments

FERC opens review of $75.5 million McNew pipeline project

FERC opened environmental scoping for a 1.6-mile natural-gas pipeline and compression project serving Evergy’s McNew Power Plant in Kansas. Southern Star estimates the project will cost $75.5 million and provide roughly 123 million cubic feet per day of transportation capacity. Source: Pipeline & Gas Journal

Evergy seeks small renewable-energy rate reduction

Evergy Missouri West filed to adjust its Renewable Energy Standard charge, which would reduce the monthly bill by $0.11 for a customer using 1,000 kWh. The proposed tariff would take effect December 1, 2026, and the intervention deadline is October 22. Source: Missouri Public Service Commission

Missouri regulators hold Evergy rate-case hearing

The Missouri Public Service Commission held an evidentiary hearing from October 5 through October 9 on Evergy Missouri Metro’s request to implement a general electric-rate increase. Additional hearing dates are scheduled for October 13, 15 and 16. Source: Missouri Public Service Commission

Market Sentiment and Analyst Recommendations

Bull Case

Evergy generated $6.09 billion in revenue, with revenue growth of 4.4%. The analyst consensus is buy, based on 11 analysts. The average price target is $91.18, above the current $80.78 price, while the high target reaches $103.00. The proposed McNew Power Plant pipeline would provide roughly 123 million cubic feet per day of transportation capacity through a 1.6-mile pipeline and compression project. Recent price action has also improved, with EVRG gaining 2.26% over five trading sessions. The bull case is straightforward: positive revenue growth, a buy consensus and an analyst target above the current price make EVRG attractive if the company can navigate its regulatory proceedings.

Bear Case

EVRG trades at 20.55 times earnings, so investors are not buying the stock at a low earnings multiple. The balance sheet is the biggest concern: Evergy has $16.50 billion in total debt against only $21.80 million in cash. Its $18.63 billion market capitalization is only modestly above that debt balance. Revenue growth is positive but limited to 4.4%. Twenty-day momentum is still negative at 0.81%, and the stock faces near-term resistance at $82.24. The lowest analyst target is $80.00, below the current $80.78 price, showing that the analyst range includes downside as well as upside.

What to Watch

Missouri regulators have additional Evergy rate-case hearing dates scheduled for October 13, 15 and 16. That proceeding matters because Evergy Missouri Metro is requesting a general electric-rate increase. Investors should also watch the October 22 intervention deadline for Evergy Missouri West’s Renewable Energy Standard filing. The proposed tariff would take effect December 1, 2026, and reduce the monthly bill by $0.11 for a customer using 1,000 kWh. FERC’s environmental review of the $75.5 million McNew pipeline project is another catalyst, with the proposal covering 1.6 miles and roughly 123 million cubic feet per day of capacity. On the chart, a move above $82.24 would clear near-term resistance, while a break below $77.66 would weaken the setup.

Analyst Consensus

BUY

Based on 11 analyst opinions

Low Target

$80.00

Mean Target

$91.18

High Target

$103.00

Earnings and Financial Data

Sector

Utilities

Industry

Utilities – Regulated Electric

Employees

4,691

Earnings & Dividends

Next Earnings

Nov 05, 2026

EPS (Trailing)

$3.93

Dividend Yield

345.0%

Payout Ratio

70.0%

Frequently Asked Questions

Is EVRG a good stock to buy?

The recommendation is buy based on 11 analysts, and the average analyst target is $91.18 versus a current price of $80.78. The clear takeaway is that analysts are positive, although the target range extends from $80.00 to $103.00.

What is EVRG’s price target?

The average analyst target is $91.18, with estimates ranging from $80.00 to $103.00. The clear takeaway is that the consensus target is above the current $80.78 price.

What is EVRG’s 52-week range?

The key-data range is $71.41 to $88.62, while the technical price series shows a low of $69.64 and a high of $87.89. The clear takeaway is that the supplied datasets use different 52-week figures.

Is EVRG overvalued?

EVRG trades at a P/E ratio of 20.55 and has a market capitalization of $18.63 billion. The clear takeaway is that the valuation should be judged against its 4.4% revenue growth and the analyst target range of $80.00 to $103.00.

What are EVRG’s support and resistance levels?

Near-term support is the 30-day low of $77.66, while near-term resistance is the 30-day high of $82.24. The clear takeaway is that these are the key technical thresholds around the current $80.78 price.

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Disclaimer: This report is for informational purposes only and does not constitute financial advice. The analysis and opinions expressed are those of AltStation.io and should not be relied upon as the sole basis for investment decisions. Always conduct your own research and consult with a qualified financial advisor before making investment decisions. Past performance does not guarantee future results. Updated October 10, 2026.