Morningstar - Evergy (A2JNBV) Great Plains and Westar Close to Sealing the Deal

Report

Morningstar

Travis Miller

Great Plains and Westar Close to Sealing the Deal

We are reaffirming our $48 per share fair value estimate for Westar Energy after the company reported earning $0.42 per share in the first quarter, the same as it earned in the first quarter of 2017. We are reaffirming our narrow moat and stable moat trend ratings, as well as our stand-alone forecasts for 2018 and beyond.
Our fair value estimate is based on the 0.5981 share exchange ratio proposed in the Great Plains merger announced in July 2017 and our $30 per share fair value estimate for Gre...

09/05/2018 13 EN

Underlying

Evergy

Westar Energy is an electric utility in Kansas. As of Dec 31 2017, the company provided electric generation, transmission and distribution services to approximately 708,000 customers in Kansas. The company provides these services in central and northeastern Kansas, including the cities of Topeka, Lawrence, Manhattan, Salina and Hutchinson. Kansas Gas and Electric Company, the company's wholly owned subsidiary, provides these services in south-central and southeastern Kansas, including the city of Wichita. The company also supplies electric energy at wholesale to municipalities and electric cooperatives in Kansas, and has contracts for the sale or purchase of wholesale electricity with other utilities.

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US95709T1007 United States

Provider

Morningstar

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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Analysts

Travis Miller

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Great Plains and Westar Close to Sealing the Deal

Monthly LMI Update Independent Investment Research

Feasibility Study Results in December to be a Catalyst for this Junior

Westar and Great Plains wrap up all regulatory approvals.

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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