New York, June 14, 2026, 10:14 (ET)
- Evergy added 1.26% Friday and Entergy closed up 1.11%. Both utilities lagged a few sector peers in a stronger day for the group.
- Evergy is under a new spotlight on data-center growth after a Seeking Alpha piece called the load growth “real but already priced in.” The article gave the stock a Hold rating. Seeking Alpha
- Entergy is going bigger on growth this time, with new investor slides showing a $67 billion capital plan for 2026–2030 and data-center deals that link to forecast customer savings.
AI data-center utility stocks are getting a tougher investor check this month over whether surging power demand is enough for their high valuations. Evergy Inc. ended Friday at $83.85, up 1.26%. Entergy Corp. edged up 1.11% to $111.11. Both stocks trailed behind some bigger utilities in a generally upbeat day for U.S. stocks.
Valuation questions are sharpest at Evergy. Eudaemon Research on Seeking Alpha noted Evergy has signed five major data-center power deals and raised its growth outlook over most regulated utilities. But the analysis said the stock price already shows that hope. EVRG is at 19.5 times forward non-GAAP earnings, with a Hold rating. Risks cited were execution, financing, and regulatory hurdles for its capital plan.
Investors were already showing interest in Evergy after Insider Monkey laid out a bullish case on Yahoo Finance, mentioning EVRG at $82.27 as of June 9. The article pointed to a trailing P/E of 21.87 and a forward P/E of 19.30. Insider Monkey The stock ended Friday less than 1.7% below its 52-week high, MarketWatch said.
Evergy (EVRG) kept its 2026 adjusted EPS target at $4.14 to $4.34 in May and declared a $0.695 per share quarterly dividend. The utility, which is based in Kansas City, also announced its fifth big electric service deal with a large customer. CEO David Campbell called first-quarter financials “solid despite mild weather” and stuck with the company’s longer-term adjusted EPS growth outlook of 6% to 8%+ through 2030. Business Wire
Evergy now sees its weather-normalized retail demand CAGR running about 7% to 8% from 2025 through 2030, according to its first-quarter presentation, higher than the earlier 6% call. The utility’s updated large-load customer list has Google, Meta, Panasonic and a newly added “premier developer” project. Projected served megawatts would go from around 350–400 MW in 2026 to roughly 2,050–2,250 MW by 2030, and hit about 3,000 MW at peak. Evergy, Inc.
Entergy is going bigger, with a capital-heavy plan. At its June 9 investor day, the New Orleans utility laid out a $67 billion investment blueprint from 2026 to 2030, including nuclear fuel. Entergy put out 2026 adjusted EPS guidance of $4.25 to $4.45, and sees adjusted EPS in 2030 between $7.05 and $7.35. The utility also kept a five-year retail sales growth outlook of around 9%.
Data centers are at the heart of Entergy’s case to both investors and its customers. Entergy projects that data-center deals secured from 2024 through 2025 will drive around $49 billion in regional investment and about $7 billion in total savings for 2.3 million customers across Arkansas, Louisiana, and Mississippi. The company’s latest investor materials lay out possible base case additions of 7–12 GW tied to data centers, plus 3–5 GW from other industries, showing why electricity demand has become a key driver for regulated utilities.
