Table of Contents :
• Stock Rating & Target Price
• Investment Thesis
• Fundamental Models Used
• Company Description
• Corporate Timeline
• Key Metrics (KPI ) and Recently Reported Earnings Review
• Business Highlights, Strategic Announcements & Outlook
• Quarter-over-Quarter (Q-o-Q) and Year-over-Year (Y-o-Y) Growth Analysis
• Key Catalysts Driving Growth
• Historical Financial Statement Analysis & CAGR Trends
• Quarterly Key Financial Ratios and Performance Metrics
• Annual Financial Performance Analysis: Horizontal and Vertical Financial Analysis, Trends
• Financial Forecasts
• Annual Forecasts: Income Statement
• Annual Forecasts: Cash Flow Statements
• Net Debt Levels
• A Closer Look at DCF: Our Assumptions and Methodology
• Terminal Value Calculation
• Target Price Analysis
• Valuation Multiples
• Supplementary Valuation Analysis: Multiples Approach
• Scenario/Sensitivity Analysis – Base Case , Bull Case ,Bear Case
• Holistic Peer Review & Trading Comps: Financial Data, Operational Metrics, and Valuation Multiples
• Implied Price Per Share
• Ownership Activity/ Insider Trades
• Ownership Summary
• An analysis of ESG Risk Rating
• Key Professionals
• Key Board Members
• Key Risks Considerations
• Analyst Ratings
• Analyst Industry Views
• Disclosures
Evergy’s (EVRG) $3.7B Investment Behind New Growth Opportunities Boost Signals Growth, But Will Regulatory Tailwinds and Load Expansion Deliver?
Evergy’s Q3 2024 results underscore its strategic focus on infrastructure-led growth, with EPS of $2.02 keeping it on track to meet its 2024 guidance of $3.73–$3.93 and signaling confidence in its long-term trajectory. An expanded $16.2 billion five-year capital plan, up $3.7 billion, targets 8% rate base CAGR through 2029, emphasizing generation expansion, grid modernization, and energy transition projects, including hydrogen-enabled gas plants and utility-scale solar. Weather-normalized load growth of 1% YTD and new retail rates contributed positively, offsetting weather-related demand softness, while advanced negotiations for 500–1,000 MW of additional load from industrial and data center customers indicate robust demand prospects. Regulatory mechanisms in Kansas and Missouri play a critical role in mitigating lag and securing timely cost recovery, aligning with Evergy’s affordability targets. However, risks remain tied to regulatory approvals, $1.6 billion in planned equity issuances through 2029, and macroeconomic pressures such as rising interest rates and inflation. While equity dilution and higher costs may moderate near-term gains, Evergy’s strong cash flow and rate base growth potential position it well for sustained expansion. Can Evergy capitalize on regulatory alignment and economic development tailwinds to deliver on its ambitious growth strategy while managing execution risks?
