Are financial experts on Wall Street forecasting an increase or decrease in Evergy's stock value?

Overview of Evergy, Inc. (EVRG)

Evergy, Inc. (EVRG) stands as a prominent electric utility holding company, responsible for producing, transmitting, distributing, and marketing electricity. Established in 2018 following the merger of Westar Energy and Great Plains Energy, Evergy delivers power to residential, business, and industrial clients. Its energy portfolio is diverse, spanning renewable sources, natural gas, coal, and nuclear energy. Headquartered in Kansas City, Missouri, the company boasts a market capitalization near $17.7 billion.

Stock Performance Highlights

Over the past year, Evergy’s stock has surpassed the broader market’s returns. In the last 52 weeks, EVRG shares have gained 17.1%, outpacing the S&P 500 Index’s ($SPX) 14% rise. Year-to-date, Evergy’s stock is up 5.9%, while the S&P 500 has advanced by 1.3%.

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Additionally, Evergy’s performance has exceeded that of the State Street Utilities Select Sector SPDR ETF (XLU), which rose 10.7% over the last year and 1.6% year-to-date.

Growth Drivers and Analyst Outlook

Optimism about Evergy’s future growth and strategic direction has contributed to its strong stock performance. The company is advancing a significant economic development pipeline, targeting large-scale customers such as data centers and advanced manufacturing operations, which could boost future demand and revenue. Investors have also responded favorably to Evergy’s capital investment strategies and positive analyst coverage.

Looking ahead to fiscal year 2025, analysts project that Evergy’s earnings per share (EPS) will climb 5.3% year-over-year to reach $4.01. The company’s recent earnings track record has been mixed, with one earnings beat and three misses in the last four quarters.

Among the 13 analysts tracking the stock, the consensus recommendation is “Moderate Buy,” comprising seven “Strong Buy” ratings, one “Moderate Buy,” and five “Hold” ratings.

Analyst Ratings and Price Targets

This analyst sentiment is slightly less optimistic than three months ago, when there were nine “Strong Buy” recommendations. Still, on January 27, BMO Capital’s Edward DeArias reiterated an “Outperform” rating for Evergy and increased the price target from $79 to $82.

The average price target stands at $84.35, indicating a potential 9.9% upside from current levels. The highest target among analysts is $91, suggesting the stock could appreciate by as much as 18.6%.