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    How Investors May Respond To Evergy (EVRG) Repurchasing US$244 Million Of 4.50% Convertible Notes

    Simply Wall St·01/08/2026 13:33:39
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    • Evergy, Inc. recently entered into privately negotiated agreements to repurchase about US$244.1 million of its 4.50% Convertible Notes due 2027 for cash, with pricing partly tied to the daily volume-weighted average price of its common stock over a measurement period that began on 7 January 2026.
    • After these transactions, roughly US$1.16 billion of Evergy’s convertible notes will remain outstanding, subtly reshaping the company’s balance sheet and future financing mix.
    • Next, we’ll examine how this sizable convertible note repurchase, and its impact on Evergy’s capital structure, influences the existing investment narrative.

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    Evergy Investment Narrative Recap

    To own Evergy, you need to believe that regulated utility returns, supported by long term load growth from data centers and advanced manufacturing, will justify ongoing heavy capital spending and funding needs. The recent US$244.1 million repurchase of convertible notes modestly adjusts Evergy’s capital structure but does not materially change the key short term catalyst of project execution, or the biggest current risk around accessing external capital on acceptable terms.

    The most relevant recent announcement here is Evergy’s September 2025 follow on equity offering of roughly US$223.3 million in common stock, which, together with the new convertible note repurchase, underlines how actively the company is managing its mix of debt and equity funding. For investors focused on the catalyst of rate base and earnings growth supported by large customer load additions, this ongoing balance between dilution and leverage will likely remain an important part of the story.

    But investors should also be aware of the risk that Evergy’s sizeable external funding needs could become more challenging if...

    Read the full narrative on Evergy (it's free!)

    Evergy's narrative projects $6.8 billion revenue and $1.2 billion earnings by 2028. This requires 5.0% yearly revenue growth and about a $359.9 million earnings increase from $840.1 million today.

    Uncover how Evergy's forecasts yield a $83.59 fair value, a 15% upside to its current price.

    Exploring Other Perspectives

    EVRG 1-Year Stock Price Chart
    EVRG 1-Year Stock Price Chart

    Three fair value estimates from the Simply Wall St Community range from about US$64.93 to US$83.59, underlining how widely individual views can differ. Against this spread, Evergy’s reliance on significant external funding for its planned capital program may shape how you think about the company’s future returns and makes it worth considering several different viewpoints before deciding what the stock is worth.

    Explore 3 other fair value estimates on Evergy - why the stock might be worth as much as 15% more than the current price!

    Build Your Own Evergy Narrative

    Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.