Evergy, Inc.
- Open
- 87.41
- Day high
- 88.12
- Day low
- 85.31
- Prev close
- 86.56
- Volume
- 1.8M
- Mkt cap
- $19.7B
- P/E (TTM)
- 22.3
- EPS (TTM)
- $3.83
- P/B
- 1.9
- P/S
- 3.3
- Yield
- 3.22%
- Per share
- $2.75
- ▼Insiders net selling -$1.1M over the last 3 months (0 open-market buys, 5 sales)
- 🏛Institutions accumulating (13F)
Evergy, Inc. (EVRG) is a Utilities company listed on NASDAQ. The stock is up 24% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 5 sales (SEC Form 4).
Evergy, Inc. (EVRG) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
EVRG earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.63 | $0.69 | +9.5% | $1.4B | +13.6% |
| Feb 19, 2026 | $0.57 | $0.42 | -26.3% | $1.3B | +16.0% |
| Nov 6, 2025 | $2.08 | $2.03 | -2.4% | $1.8B | -30.5% |
| Aug 7, 2025 | $0.78 | $0.82 | +5.7% | $1.4B | +8.4% |
| May 8, 2025 | $0.66 | $0.54 | -18.6% | $1.4B | +35.0% |
| Feb 27, 2025 | $0.46 | $0.35 | -23.9% | $1.3B | -0.0% |
| Nov 7, 2024 | $1.93 | $2.02 | +4.7% | $1.8B | -23.0% |
| Aug 9, 2024 | $0.89 | $0.90 | +1.1% | $1.5B | +6.9% |
| May 9, 2024 | $0.64 | $0.53 | -17.2% | $1.3B | -1.4% |
| Feb 29, 2024 | $0.28 | $0.27 | -3.6% | $1.2B | -18.5% |
| Aug 4, 2023 | $0.78 | $0.81 | +3.8% | $1.4B | -6.8% |
| May 5, 2023 | $0.58 | $0.59 | +1.7% | $1.3B | +4.7% |
EVRG insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 1, 2026 | Rolph Jonathan Ddirector | Grant | 348 | — |
| Jul 1, 2026 | WILDER C JOHNdirector | Grant | 405 | — |
| Jun 16, 2026 | Caisley Charles A.officer: EVP & CHIEF CUST OFFCR | Sell | 10,787 | $83.46 |
| Jun 4, 2026 | Lawrence Sandra AJdirector | Sell | 600 | $81.41 |
| Jun 4, 2026 | Lawrence Sandra AJdirector | Sell | 200 | $82.63 |
| Jun 1, 2026 | Lawrence Sandra AJdirector | Sell | 761 | $83.31 |
| Jun 1, 2026 | Lawrence Sandra AJdirector | Sell | 400 | $82.04 |
| May 8, 2026 | Keglevic Pauldirector | Grant | 1,961 | — |
| May 8, 2026 | Rolph Jonathan Ddirector | Grant | 2,188 | — |
| May 8, 2026 | Newton Dean Adirector | Grant | 1,961 | — |
| May 8, 2026 | ISAAC B ANTHONYdirector | Grant | 980 | — |
| May 8, 2026 | WILDER C JOHNdirector | Grant | 2,225 | — |
| May 8, 2026 | Murtlow Ann D.director | Grant | 1,961 | — |
| May 8, 2026 | Lawrence Sandra AJdirector | Grant | 1,961 | — |
| May 8, 2026 | Scarola Jamesdirector | Grant | 1,961 | — |
Source: EVRG SEC Form 4 filings, latest Jul 1, 2026. For informational purposes only — not investment advice.
See the full EVRG insider & 13F page →Evergy, Inc. company profile
Overview
Evergy, Inc. (NYSE:EVRG) is a regulated electric utility company formed in 2018 through the merger of Westar Energy and Kansas City Power & Light Company. Headquartered in Kansas City, Missouri, the company serves approximately 1.6 million customers across Kansas and Missouri. Since its formation, Evergy has positioned itself as a major regional utility focused on grid modernization, renewable energy integration, and economic development, particularly in the growing data center and industrial sectors.
Business
Evergy operates as a regulated electric utility, meaning it generates, transmits, distributes, and sells electricity under government oversight that determines pricing and service standards. The electric utility industry is characterized by natural monopoly economics, where companies serve exclusive geographic territories and earn regulated returns on invested capital. The company's electricity generation portfolio includes coal-fired power plants, natural gas facilities, nuclear power, hydroelectric dams, wind farms, solar installations, and landfill gas facilities. This diverse energy mix provides baseload power (consistent 24/7 generation from coal and nuclear), peaking power (natural gas plants that can quickly ramp up during high demand), and renewable energy sources that produce electricity when weather conditions permit. Evergy's infrastructure includes approximately 10,100 circuit miles of high-voltage transmission lines that carry electricity over long distances, 39,800 circuit miles of overhead distribution lines that deliver power to neighborhoods, and 13,000 circuit miles of underground distribution lines in urban areas. This extensive grid connects power plants to homes, businesses, and industrial facilities across their service territory. The company serves diverse customer segments: residential customers (homeowners and renters), commercial firms (retail stores, offices, small businesses), industrial customers (manufacturing plants, large facilities), municipalities (cities and towns), and other electric utilities through wholesale power sales. Evergy has recently attracted significant new industrial load from technology companies including Google, Meta, and Panasonic, representing approximately 800 megawatts of additional electricity demand.
Revenue model
Evergy generates revenue primarily through regulated electricity sales to retail customers, with rates set by state public utility commissions in Kansas and Missouri. The company earns a regulated return on its invested capital (rate base), which includes power plants, transmission lines, distribution infrastructure, and other utility assets. When Evergy invests in new infrastructure, regulators typically allow the company to recover these costs plus an authorized return through customer rates. The business model operates on a cost-plus regulatory framework where the company recovers its operating expenses, depreciation, taxes, and earns an allowed return on equity (typically 9-10%). Rate cases are filed periodically to adjust customer rates based on changes in costs and capital investments. Evergy also benefits from various regulatory mechanisms that reduce lag between investments and cost recovery, including rider mechanisms for specific projects. Several factors influence the company's profitability margins. Weather patterns significantly impact electricity demand, with hot summers increasing air conditioning usage and cold winters driving heating demand. Economic growth in Kansas and Missouri affects commercial and industrial electricity consumption. Fuel costs for natural gas and coal directly impact operating expenses, though these are typically passed through to customers. Interest rates affect the cost of financing new infrastructure investments. Regulatory decisions on allowed returns, cost recovery mechanisms, and rate design directly impact profitability. The recent influx of data center and industrial customers provides significant growth opportunities, as these facilities consume large amounts of electricity consistently. Environmental regulations may require costly upgrades to existing power plants or accelerated retirement of older facilities.
Competitive moat
Evergy possesses a strong regulatory moat typical of investor-owned utilities. The company operates as a regulated monopoly in its Kansas and Missouri service territories, meaning customers cannot choose alternative electricity providers. This geographic exclusivity is protected by state regulations and the practical barriers to building competing electric infrastructure. The moat is reinforced by the company's essential service - electricity is a necessity for modern life and economic activity, creating consistent demand regardless of economic conditions. The utility's extensive transmission and distribution infrastructure represents billions of dollars in sunk costs that would be extremely difficult and expensive for competitors to replicate. However, the moat faces some limitations. Regulatory oversight constrains pricing power and returns, as state commissions must balance utility profitability with customer affordability. Distributed generation technologies like rooftop solar and battery storage could potentially reduce customer dependence on the grid over time, though this threat remains limited in Evergy's service territory. Political and regulatory changes could alter the regulatory compact or push for utility restructuring, though such changes are historically rare and gradual. The company's moat is currently being strengthened by the data center boom and industrial growth, which creates long-term contracted demand that is difficult to serve through alternative providers. Large customers like Google and Meta require the reliability and scale that only established utilities can provide, reinforcing Evergy's competitive position.
Risks & safety
Evergy presents a moderate margin of safety typical of regulated utilities, with stable cash flows but limited financial flexibility due to capital intensity. • Liquidity and Solvency: Cash position of $35.3 million is relatively low, but the company maintains access to credit facilities. Current ratio of 0.55 indicates short-term liquidity pressure, though this is typical for utilities with predictable cash flows. Debt-to-equity ratio of 1.45 is elevated but within normal utility ranges. • Cash Flow Dynamics: Operating cash flow of $449.6 million in Q1 2025 demonstrates strong operational performance, but free cash flow of negative $143.2 million reflects heavy capital investment requirements. The company expects negative free cash flow during its growth investment phase. • Valuation Metrics: Trading at 31.8x earnings and 12.8x EBITDA, which appears expensive relative to historical utility valuations. Price-to-book ratio of 1.6x suggests modest premium to asset value. • Credit Profile: Targeting FFO-to-debt ratio of approximately 15%, indicating focus on maintaining investment-grade credit metrics. The $17.5 billion capital plan through 2029 will require significant financing, including potential equity issuances in 2026-2027.
Recent development
Over the past few years, Evergy has undergone a significant strategic transformation focused on economic development and grid modernization. The company has successfully attracted major technology companies to its service territory, including Google, Meta, and Panasonic, representing approximately 800 megawatts of new electricity demand. This economic development success has expanded the company's pipeline to over 11 gigawatts of potential new load, primarily from data centers and industrial facilities. The company has substantially increased its capital investment plans, growing from $11.6 billion (2023-2027) to $17.5 billion (2025-2029). This investment focuses heavily on transmission and distribution infrastructure to support load growth, along with generation additions including three new natural gas combined-cycle plants and 325 megawatts of solar capacity. Regulatory strategy has been another key focus, with Evergy successfully advancing legislation in Kansas (House Bill 2527) to establish competitive frameworks for electric infrastructure investment. The company has also implemented various cost recovery mechanisms to reduce regulatory lag, including rider mechanisms and more frequent rate case filings. On the sustainability front, Evergy has maintained its commitment to carbon reduction while taking a more flexible approach to coal plant retirements. The company has achieved a 53% reduction in carbon emissions since 2005 and continues to invest in renewable energy, though it has extended some coal retirement timelines to accommodate potential new load growth and regulatory uncertainty.
EVRG company profile · for informational purposes only — not investment advice.
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