Headquartered in Kansas City, Missouri, Evergy, Inc. (EVRG) is a leading regulated utility company serving customers across Kansas and Missouri. With a market cap of $15 billion, Evergy focuses on providing safe, reliable, and affordable electricity while advancing sustainability initiatives. The company invests in modernizing its energy infrastructure and expanding renewable energy resources to enhance grid resilience and support a cleaner energy future for the communities it serves.
Shares of Evergy have outperformed the broader market over the past 52 weeks. EVRG has gained 34.1% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 20.7%. In 2025, EVRG is up 6.9% compared to SPX’s 3.1% gain on a YTD basis.
Narrowing the focus, Evergy has also outpaced the Utilities Select Sector SPDR Fund’s (XLU) 31.1% gains over the past year and 4.4% returns on a YTD basis.
Evergy's shares have outpaced the broader market and its peers, driven by strong earnings growth, a favorable regulatory environment, and strategic investments in grid modernization and renewable energy. Following its Q3 earnings release on Nov. 7, shares edged higher. The utility reported $1.81 billion in revenue, while adjusted EPS amounted to $2.02, beating the consensus estimate of $1.95, up 32% from the prior year. The company reaffirmed its 2024 GAAP and adjusted EPS guidance of $3.73 to $3.93 and introduced its 2025 outlook, forecasting GAAP and adjusted EPS between $3.92 and $4.12.
For fiscal 2024, which ended in December, analysts expect Evergy to report an 8.2% year-over-year growth in adjusted EPS to $3.83. The company’s earnings surprise history is disappointing. It missed the consensus estimate in three of the last four quarters while beating the forecast on another occasion.
Among the 13 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on nine “Strong Buy” ratings and four “Holds.”
This configuration is more bullish than a month ago when seven analysts recommended a “Strong Buy” rating.
On Jan. 27, Barclays lowered Evergy's price target from $65 to $62 but maintained an “Overweight” rating ahead of its Q4 earnings report. The firm remains bullish on the power and utilities sector, expecting continued demand growth and an accelerated rate base and earnings growth toward 9%.
EVRG’s mean price target of $67.45 represents a premium of 2.5% to current price levels. Meanwhile, the Street-high target of $74 suggests a potential upside of 12.5%.
