Evergy Benefits From Weather and Merger Savings
We are reaffirming our $58 per share fair value estimate after Evergy reported strong 2019 first-quarter adjusted EPS and reaffirmed earnings guidance. Evergy management also indicated it was on track to repurchase 60 million shares following the merger and expects to complete the buyback by mid-2020.We are also reaffirming our 2019 earnings estimate of $2.90 per share, the midpoint of Evergy’s guidance range of $2.80-$3.00 per share. Evergy reported adjusted EPS of $0.44 in the recently ended ...
Evergy is a public utility holding company. Through its subsidiary, Westar Energy, Inc., the company is a regulated electric utility that provides electricity to customers in the state of Kansas. The company's Kansas City Power & Light Company (KCP&L) subsidiary, is a regulated electric utility that provides electricity to customers primarily in the states of Missouri and Kansas. KCP&L's subsidiary, Greater Missouri Operations Company, is a regulated electric utility that provides electricity to customers in the state of Missouri. The company, through its subsidiary, GPE Transmission Holding Company, LLC, partially owns Transource Energy, LLC, which is focused on the development of electric transmission projects.
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