Evergy Reports Strong Results Following Merger; Raising FVE to $55
We are increasing our fair value estimate to $55 from $52 per share after Evergy reported strong pro forma earnings, reaffirmed post-merger share repurchase plans, and issued guidance of 6%-8% EPS growth through 2021. Although favorable weather contributed more than half of the strong results in the quarter, the merger-related tax benefits were larger than we anticipated.Pro forma 2018 second-quarter EPS was $0.90 versus $0.59 in the same period last year. Warm weather (cooling degree days were...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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