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Here's Why You Should Add Evergy Stock to Your Portfolio Right Now
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Evergy, Inc.’s (EVRG - Free Report) strategic capital investments to expand operations, strengthen infrastructure and improve reliability are likely to boost its performance. Given its growth opportunities, EVRG makes for a solid investment option in the Utility sector.
The company currently carries a Zacks Rank #2 (Buy). Let’s look at the factors that are driving the stock.
EVRG’s Growth Projections & Surprise History
The Zacks Consensus Estimate for EVRG’s 2024 earnings per share (EPS) is pegged at $3.85, which indicates year-over-year growth of 8.8%.
The consensus estimate for 2024 sales is pegged at $5.65 billion, which indicates year-over-year growth of 2.5%.
EVRG’s long-term (three to five years) earnings growth rate is 5.8%.
EVRG’s Dividend Yield
Evergy distributes dividends to shareholders on a regular basis. Its current dividend yield is 4.21%, which is better than the industry’s average of 3.32%. It aims for a dividend payout in the range of 60-70% per year.
Debt Position of EVRG
Evergy’s total debt to capital is currently 59.12% compared with its industry average of 60.5%.
The stock’s time-to-interest earned ratio at the end of the second quarter was 2.4. The ratio, being greater than one, reflects the company’s ability to meet future interest obligations without difficulties.
EVRG’s Systemic Investments
Evergy’s long-term investment plans are focused on transmission, distribution, infrastructure upgrades and customer-facing platforms to improve reliability. It aims to invest nearly $12.5 billion in capital by 2028.
The planned capital expenditures of the company are in sync with its new Integrated Resource Plan, which intends to achieve net-zero emissions by 2045, with an interim goal of 70% reduction in carbon dioxide emissions by 2030.
EVRG Stock’s Price Performance
Shares of EVRG have gained 17.2% in the past three months compared with the industry’s 11.5% growth.
TransAlta Corporation delivered an average earnings surprise of 97.99% in the last four quarters. The Zacks Consensus Estimate for 2024 EPS has increased 4.2% in the past 30 days.
DTE Energy delivered an average earnings surprise of 0.77% in the last four quarters. The consensus estimate for DTE’s 2024 EPS indicates year-over-year growth of 17%.
The Zacks Consensus Estimate for NGG’s 2025 EPS indicates year-over-year growth of 6.2%. The consensus estimate for NGG’s 2025 sales indicates year-over-year growth of 4.6%.
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Here's Why You Should Add Evergy Stock to Your Portfolio Right Now
Evergy, Inc.’s (EVRG - Free Report) strategic capital investments to expand operations, strengthen infrastructure and improve reliability are likely to boost its performance. Given its growth opportunities, EVRG makes for a solid investment option in the Utility sector.
The company currently carries a Zacks Rank #2 (Buy). Let’s look at the factors that are driving the stock.
EVRG’s Growth Projections & Surprise History
The Zacks Consensus Estimate for EVRG’s 2024 earnings per share (EPS) is pegged at $3.85, which indicates year-over-year growth of 8.8%.
The consensus estimate for 2024 sales is pegged at $5.65 billion, which indicates year-over-year growth of 2.5%.
EVRG’s long-term (three to five years) earnings growth rate is 5.8%.
EVRG’s Dividend Yield
Evergy distributes dividends to shareholders on a regular basis. Its current dividend yield is 4.21%, which is better than the industry’s average of 3.32%. It aims for a dividend payout in the range of 60-70% per year.
Debt Position of EVRG
Evergy’s total debt to capital is currently 59.12% compared with its industry average of 60.5%.
The stock’s time-to-interest earned ratio at the end of the second quarter was 2.4. The ratio, being greater than one, reflects the company’s ability to meet future interest obligations without difficulties.
EVRG’s Systemic Investments
Evergy’s long-term investment plans are focused on transmission, distribution, infrastructure upgrades and customer-facing platforms to improve reliability. It aims to invest nearly $12.5 billion in capital by 2028.
The planned capital expenditures of the company are in sync with its new Integrated Resource Plan, which intends to achieve net-zero emissions by 2045, with an interim goal of 70% reduction in carbon dioxide emissions by 2030.
EVRG Stock’s Price Performance
Shares of EVRG have gained 17.2% in the past three months compared with the industry’s 11.5% growth.
Image Source: Zacks Investment Research
Other Stocks to Consider
Other top-ranked stocks in the industry are TransAlta Corporation (TAC - Free Report) , DTE Energy Company (DTE - Free Report) and Natural Grid Transco (NGG - Free Report) . Each of these stocks currently carries a Zacks Rank of 2. You can see the complete list of Zacks Rank #1 (Strong Buy) stocks here.
TransAlta Corporation delivered an average earnings surprise of 97.99% in the last four quarters. The Zacks Consensus Estimate for 2024 EPS has increased 4.2% in the past 30 days.
DTE Energy delivered an average earnings surprise of 0.77% in the last four quarters. The consensus estimate for DTE’s 2024 EPS indicates year-over-year growth of 17%.
The Zacks Consensus Estimate for NGG’s 2025 EPS indicates year-over-year growth of 6.2%. The consensus estimate for NGG’s 2025 sales indicates year-over-year growth of 4.6%.