2024-04-15 14:26:36 ET
Summary
- Evergy is currently trading for an attractive valuation with forward EV/EBITDA of 9.6x versus the sector median of 10.36x.
- I expect load growth to be faster than 2%-3% given data center demand past 2025 as it takes some time to build data centers.
- I rate Evergy a 'Buy' and I would own it in a diversified portfolio.
Evergy, Inc. ( EVRG ) is a regulated utility that supplies electricity to over 1.6 million customers in Kansas and Missouri.
Shares of Evergy have not done well since early 2020 given the beginning of the pandemic in 2020 and interest rate headwinds since 2022....
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Evergy: Attractive Valuation With Potential For Stronger Load Growth