This Overlooked Utility Stock Delivers Impressive Dividend Growth
Evergy, Inc. (NASDAQ:EVRG) is one of Best Dividend Stocks to Buy for Dependable Growth.
Evergy, Inc. (NASDAQ:EVRG) is often overlooked among utility stocks, despite having a strong track record of dividend growth. The company has increased its dividend for 20 consecutive years, averaging nearly 6% annual growth over the past five years. In addition, the stock has a dividend yield of 4%, as of June 17. It is one of the best dividend stocks.
A power line stretching across a sunbathed landscape with rural homes in the foreground.
Analysts expect this upward trend to continue, supported by a solid business outlook. In February, Evergy, Inc. (NASDAQ:EVRG) revealed that its pipeline of large electricity customers, such as data centers, had grown to 11.2 GW, exceeding its current peak demand. To support this growth, the company raised its 2025–2029 capital spending plan by 8% to $17.5 billion.
Earnings-wise, Evergy, Inc. (NASDAQ:EVRG) reaffirmed its long-term adjusted EPS growth target of 4% to 6% through 2029, based on a 2025 midpoint of $4.02. Starting in 2026, the company expects to hit the higher end of that range. It also maintains a solid cash position, with trailing twelve-month operating cash flow exceeding $2 billion. The company currently offers a quarterly dividend of $0.6675 per share.
Evergy, Inc. (NASDAQ:EVRG) supplies electricity to 1.7 million customers across Kansas and Missouri through its subsidiaries: Evergy Kansas Central, Evergy Metro, and Evergy Missouri West.
While we acknowledge the potential of EVRG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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