Evergy to Benefit From Investments & Renewable Expansion
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Evergy, Inc.’s EVRG planned investments and strategic acquisitions should further help expand its operations in the transmission market. The company intends to add more renewable assets to boost its overall performance.However, this Zacks Rank #3 (Hold) company faces risks related to delays in completing ongoing capital projects and weather fluctuations.Tailwinds Favoring EVRGEvergy’s long-term investment plans are focused on transmission, distribution infrastructure upgrades and customer-facing platforms to improve reliability. The company targets nearly $16.2 billion of capital investments for 2025-2029. Evergy's planned capital expenditures are in sync with its new Integrated Resource Plan. The company intends to achieve net-zero emissions by 2045, with an interim goal of reducing carbon dioxide emissions by 70% within 2030.EVRG aims to lower emissions by shutting down fossil-fuel-based plants and adding new efficient units of clean power generation. The use of more advanced technology to produce electricity from efficient renewable units is also reducing operating costs and boosting margins.In October 2024, Evergy announced its plan to construct two combined-cycle natural gas plants in Kansas. Evergy Kansas Central and Evergy Missouri West will jointly own the first site, which is expected to have an initial generating capacity of nearly 705 megawatts (MW). The plant is anticipated to begin operations by the summer of 2029. The second site, which is expected to begin operations by the summer of 2030, also has a capacity of almost 705 MW.Headwinds for EVRGThe company’s capital projects could get delayed due to permit delays, inadequate availability or increased cost of equipment and materials, which are beyond its control. This could increase the cost of the projects, thereby adversely impacting EVRG’s profitability.Electricity sales are seasonal and changing weather conditions play a pivotal role in the company’s overall performance. Mild winter and summer season can reduce demand for electricity, affecting the company’s performance.EVRG’s Price PerformanceIn the past six months, shares of the company have risen 15.8% compared with the industry’s 6.8% growth. Image Source: Zacks Investment ResearchStocks to ConsiderSome better-ranked stocks from the same industry are Vistra VST, sporting a Zacks Rank #1 (Strong Buy) at present, and IDACORP IDA and DTE Energy DTE, both carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.VST’s long-term (three to five years) earnings growth rate is 17.4%. The Zacks Consensus Estimate for 2024 earnings per share (EPS) indicates a year-over-year increase of 24.8%.IDA’s long-term earnings growth rate is 8.31%. The Zacks Consensus Estimate for 2024 EPS indicates year-over-year growth of 5.5%.DTE’s long-term earnings growth rate is 8.04%. The Zacks Consensus Estimate for 2024 EPS indicates a year-over-year improvement of 18%. Zacks Naming Top 10 Stocks for 2025Want to be tipped off early to our 10 top picks for the entirety of 2025?History suggests their performance could be sensational.From 2012 (when our Director of Research Sheraz Mian assumed responsibility for the portfolio) through November, 2024, the Zacks Top 10 Stocks gained +2,112.6%, more than QUADRUPLING the S&P 500’s +475.6%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2025. Don’t miss your chance to get in on these stocks when they’re released on January 2.Be First to New Top 10 Stocks >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report DTE Energy Company (DTE): Free Stock Analysis Report IDACORP, Inc. (IDA): Free Stock Analysis Report Vistra Corp. (VST): Free Stock Analysis Report Evergy Inc. (EVRG): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
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