Last Price$59.45NASDAQ Previous Close - Last Trade as of 4:00PM ET 3/24/23

Today's Change+2.30(4.02%)
Bid (Size)$59.29 (71)
Ask (Size)$59.82 (76)
Day Low / High$57.27 - 59.46
Volume1.3 M

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

4:35PM ET 11/08/2022 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 $8 to $66, 17.5x our 2023 EPS estimate (cut $0.02 to $3.76; '22 estimate remains $3.55), near peers with similar outlooks for near-term EPS and dividend growth, as well as longer-term clean energy transition strategies, though a small discount to EVRG's 10-year historical average of 17.8x. Q3 adj. EPS of $2.01 vs. $1.98, $0.12 above consensus, saw higher transmission margin, favorable weather, and retail sales growth outweigh the impact of higher O&M costs and interest expenses. Weather-normalized retail electric sales rose 1.7% Y/Y, led by the industrial segment (+2.5% Y/Y). Residential sales rose 0.6% Y/Y. EVRG reached recent settlements for its electric rate cases at Evergy Metro and Evergy Missouri West (final order expected during November, new rates take effect December 6), which we expect to increase revenues by around $67.5m, though the authorized ROE was not disclosed.