Morningstar - Evergy (A2JNBV) Low Gas Prices, Stalled Environmental Policy Under Trump Mean Little Net Impact on Utilities

Report

Morningstar

Travis Miller

EUR 147.86 For Business Accounts Only

Low Gas Prices, Stalled Environmental Policy Under Trump Mean Little Net Impact on Utilities

We are reaffirming the fair value estimates, moat ratings, and moat trends for all utilities we cover following the U.S. presidential election outcome. We continue to think utilities are 6% overvalued, and we don't plan any material changes to our forecasts.
President-elect Donald Trump has been an outspoken advocate for natural gas and coal, which likely will keep gas and power prices low. We expect gas demand will continue growing, supporting infrastructure investment and earnings growth for m...

09/11/2016 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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Low Gas Prices, Stalled Environmental Policy Under Trump Mean Little Net Impact on Utilities

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

Sasol Provides Full-Year Production Update

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

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