Valued at a market cap of $15.3 billion, Evergy, Inc. (EVRG) generates, transmits, distributes, and sells electricity to residences, commercial firms, industrials, municipalities, and other electric utilities. The Kansas City, Missouri-based company generates electricity through coal, landfill gas, uranium, natural gas, oil sources, and solar, wind, and other renewable sources.

Shares of this utility company have outpaced the broader market over the past 52 weeks. Evergy has surged 19.5% over this time frame, while the broader S&P 500 Index ($SPX) has gained 8.6%. Moreover, on a YTD basis, the stock is up 8.2%, compared to SPX’s 3.8% downtick. 

Zooming in further, EVRG has also outperformed the Utilities Select Sector SPDR Fund’s (XLU) 12.5% rise over the past 52 weeks and 6% uptick on a YTD basis. 

On May 8, Evergy’s shares plunged 4.4% after it delivered its Q1 results. Due to higher residential and commercial revenues, the company’s overall revenue improved 3.3% from the year-ago quarter to $1.4 billion. However, on the other hand, its adjusted EPS of $0.54 remained flat year-over-year and missed the consensus estimates by a notable margin of 18.2%.

Despite the miss, Evergy reaffirmed its fiscal 2025 adjusted EPS guidance of $3.92 to $4.12 and maintained a positive long-term outlook. The company highlighted a strong pipeline of large customers considering projects in Kansas and Missouri, calling it one of the most promising in the country for its size.

For the current fiscal year, ending in December, analysts expect EVRG’s EPS to grow 5.8% year over year to $4.03. The company’s earnings surprise history is disappointing. It missed the consensus estimates in three of the last four quarters, while exceeding on another occasion. 

Among the 13 analysts covering the stock, the consensus rating is a “Strong Buy” which is based on 10 “Strong Buy,” and three “Hold” ratings. 

Evergy's overall configuration has shifted from a “Moderate Buy” to a “Strong Buy,” with nine “Strong Buy” ratings in the past month. 

On Apr. 28, UBS Group AG (UBS) analyst William Appicelli upgraded EVRG’s rating to “Buy” and also raised its price target to $78, the Street-high price target, which indicates a 17.1% potential upside from the current levels. 

The mean price target of $72.78 represents a 9.3% premium from Evergy’s current price levels.