Evergy Inc EVRG:NYSE

Last Price$70.94NYSE Previous Close - Last Trade as of 7:00PM ET 8/18/22

Today's Change-0.19(0.27%)
Bid (Size)N/A (N/A)
Ask (Size)$71.70 (2)
Day Low / High$70.42 - 71.03
Volume603.0 K

Research Alert: CFRA Maintains Hold Opinion On Shares Of Evergy Inc.

12:25AM ET 2/28/2022 MT Newswires
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our 12-month target price by $1 to $68, 19.3x our 2022 EPS estimate (raised $0.01 to $3.53), a premium to peers and in-line with EVRG's five-year historical average. We continue to see competitive EPS and dividend growth opportunities (6%-8% CAGR through 2025) and a supportive service territory economy and regulatory regime. EVRG posts Q4 adj. EPS of $0.16 vs. $0.22, $0.01 above consensus, with higher weather-normalized demand, offset by unfavorable weather and higher O&M costs. EVRG projects 1% weather-adjusted retail sales growth in 2022, with declining residential demand with presumably fewer people working from home, more than offset by strength in C&I demand from strong labor markets in Kansas City and other parts of EVRG's service territory. We expect EVRG to resubmit its 190 MW KS solar generation and Lawrence coal plant retirement proposal after withdrawing the request due to uncertainties with supply chain and tax incentives. We start our 2023 EPS estimate at $3.76.