5 Reasons To Add Evergy (EVRG) To Your Portfolio Right Now
Zacks Investment Research | Jan 10, 2019 09:55PM ET
Earnings estimates for Evergy Inc. (NYSE:EVRG) have been revised upward over the past 90 days, reflecting analysts’ optimism surrounding the stock. The Zacks Consensus Estimate for 2019 earnings has moved up 0.7% to $2.93 during the said period.
Evergy, together with its subsidiaries, provides clean, safe, and reliable energy to 1.6 million customers in Kansas and Missouri.
Let’s focus on the factors that make Evergy a good investment option at the moment.
Zacks Rank & VGM Score
Evergy currently sports a Zacks Rank #1 (Strong Buy). You can see industry ’s decline of 3.7% over the past 12 months. Return on Equity (ROE) and Shareholder Value Evergy’s ROE of 7.53%, compared with the industry average of 6.01%, indicates the company’s efficiency in utilizing its shareholders’ funds. Evergy is planning to repurchase up to 60 million shares of its common stock or 22% of its outstanding shares over the next two years. This is likely to stabilize capital structure and have a positive impact on earnings per share of the company. It repurchased more than 9.5 million shares as of November 2018. Focus on Clean Energy Other Key Picks Other top-ranked stocks from the same industry include NextEra Energy (NYSE:NEE) Partners L.P. (NYSE:NEP) , Central Puerto S.A. Sponsored ADR (NYSE:CEPU) and Covanta Holding Corporation (NYSE:CVA) . While NextEra Energy Partners and Central Puerto sport a Zacks Rank #1, Covanta Holding carries a Zacks Rank #2 (Buy). NextEra Energy Partners, Central Puerto and Covanta Holding‘s Zacks Consensus Estimate for 2019 earnings moved up 3.6% and 15% and 42.8%, respectively, over the past 90 days. Long-term earnings growth for NextEra Energy Partners and Covanta Holding is currently pegged at 9% and 15%, respectively. It could become the mother of all technological revolutions. Apple (NASDAQ:AAPL) sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Evergy continues to diversify its clean electricity generation and lower carbon emissions. Initiatives have been taken to shut down 2,200 MW of fossil fuel generation units and add 3,800 MW of wind power generation in its portfolio within 2020. The company has plans to invest $6 billion within the 2018-2022 time period, in order to strengthen and expand its operation.
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