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Evergy Inc EVRG

Rating as of

Morningstar’s Analysis

Valuation
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Biden's Green Agenda Offers Growth Potential for Utilities

Charles Fishman, CFA Equity Analyst

Analyst Note

| Charles Fishman, CFA |

We are reaffirming our fair value estimates, moat ratings, and moat trend ratings for U.S. utilities after President Joe Biden kicked off his environmental policymaking efforts. We consider the sector fairly valued.

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Company Profile

Business Description

Evergy is a regulated electric utility serving eastern Kansas and western Missouri. Major operating subsidiaries include Evergy Metro, Evergy Kansas Central, Evergy Missouri West, and Evergy Transmission Company. The utility has a combined rate base of approximately $15 billion, about half in Kansas and half split between Missouri and federal jurisdiction. Evergy operates and owns 94% of the 1,200 MW Wolf Creek nuclear plant that supplies about 17% of the company's net generation or purchased power. Coal and natural gas generation supply over 50% of total sales but is declining with planned coal plant retirements. Including purchased power contracts, Evergy gets about 27% of its power from renewables, mostly wind, making it one of the largest wind energy suppliers in the U.S.

Contact
1200 Main Street
Kansas, MO, 64105
T +1 816 556-2200
Sector Utilities
Industry Utilities - Regulated Electric
Most Recent Earnings Sep 30, 2020
Fiscal Year End Dec 31, 2020
Stock Type High Yield
Employees 4,617

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