Is EVRG a good stock to buy? We came across a bullish thesis on Evergy, Inc. on MaxDividends’s Substack by Serhio MaxDividends. In this article, we will summarize the bulls’ thesis on EVRG. Evergy, Inc.’s share was trading at $82.27 as of June 9th. EVRG’s trailing and forward P/E were 21.87 and 19.30 respectively according to Yahoo Finance.
Evergy, Inc. (EVRG) is a regulated electric utility serving 1.7 million customers across Kansas and Missouri, operating a business model built on infrastructure investment, rate-base growth, and stable cost recovery through regulated returns. Formed through the merger of Westar Energy and Great Plains Energy, the company has steadily strengthened its earnings profile while maintaining predictable cash flows that are largely insulated from economic cycles.
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A key component of the investment case is Evergy’s shareholder-friendly capital allocation strategy, highlighted by 22 consecutive years of dividend increases. The company currently pays an annual dividend of $2.78 per share, yielding 3.37%, supported by a regulated customer base with highly inelastic demand and a framework that enables earnings growth alongside grid modernization investments.
While adjusted earnings increased modestly in 2025, the more compelling story is the company’s emerging growth engine. Historically viewed as a traditional utility driven by rate-base expansion, Evergy is now benefiting from a surge in electricity demand from data centers and large industrial customers. The company has already signed agreements covering 1.9 GW of load with major customers including Google, Meta, and Beale Infrastructure, while remaining in advanced discussions for an additional 2–3.5 GW of demand.
Retail sales are expected to grow by as much as 8% annually as these projects come online, prompting Evergy to increase its 2026–2030 capital investment plan by 24% to $21.6 billion. Importantly, newly approved large-load tariffs require long-term contracts, collateral requirements, and exit fees, helping ensure that expansion costs are borne by large users rather than existing customers.
Although regulatory outcomes and leverage metrics warrant monitoring, Evergy’s sizable data-center pipeline, expanding capital program, durable regulated business model, and long dividend-growth history position the company to benefit from a potentially significant acceleration in earnings and cash-flow growth over the coming years.
Previously, we covered a bullish thesis on Evergy, Inc. (EVRG) by Hidden Market Gems in April 2025, which highlighted the company’s defensive utility model, insulation from tariffs and global supply chain disruptions, and attractiveness during periods of macroeconomic uncertainty. EVRG’s stock price has appreciated by approximately 26.24% since our coverage. Serhio MaxDividends shares a similar view but emphasizes on data-center-driven load growth and long-term earnings expansion.
Evergy, Inc. is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 42 hedge fund portfolios held EVRG at the end of the first quarter which was 49 in the previous quarter. While we acknowledge the risk and potential of EVRG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than EVRG and that has 10,000% upside potential, check out our report about this cheapest AI stock.
Disclosure: None.
