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AEP vs EVRG
Which Stock Would AI Choose? American Electric Power (AEP) vs. Evergy (EVRG) Stock Comparison
Key Takeaways
- AEP operates the nation's largest transmission network and serves 5.5 million customers across 11 states, while EVRG serves 1.7 million customers concentrated in Kansas and Missouri.
- AEP has secured 56 gigawatts (GW) of incremental load by 2030, dwarfing EVRG's approximately 1.9 GW from recently signed data center agreements.
- Both utilities are riding the data center and electrification megatrend, but AEP's $72 billion five-year capital plan is more than three times the size of EVRG's $21.6 billion plan.
- EVRG offers a higher dividend yield and a 22-year streak of consecutive dividend increases, appealing to income-focused investors.
- AEP targets 7-9% long-term EPS (earnings per share) growth, while EVRG guides for 6-8%+ adjusted EPS growth through 2030.
- Recent analyst sentiment has cooled on both stocks due to valuation re-ratings, though the fundamental growth narratives remain intact.
Introduction
Regulated electric utilities have become one of the market's most closely watched sectors as the artificial intelligence boom drives unprecedented electricity demand from data centers across the United States. Within this landscape, AEP (American Electric Power Company, Inc.) and EVRG (Evergy, Inc.) represent two distinct plays on the electrification theme — one a sprawling transmission giant with coast-to-inland reach, the other a focused Midwest operator with a disciplined regulatory strategy. This comparison examines how these two utility stocks stack up across growth trajectory, scale, risk profile, and current market positioning, offering traders and investors a clear, data-driven framework for evaluating relative opportunity.
AEP Overview and Recent Performance
American Electric Power, headquartered in Columbus, Ohio, is one of the largest investor-owned electric utilities in the United States. The company owns and operates more than 2,100 miles of 765-kilovolt (kV) transmission lines — approximately 90% of all such ultra-high-voltage infrastructure in the country — and serves roughly 5.5 million customers across 11 states. In recent months, AEP has emerged as a primary beneficiary of the data center buildout, reporting that its incremental load pipeline has surged to 56 GW by 2030, all backed by signed agreements with well-capitalized hyperscalers and data center developers. The company delivered full-year 2025 operating earnings of $5.97 per share, up from $5.62 in 2024, and reaffirmed its 2026 guidance of $6.15 to $6.45 per share alongside a 7-9% long-term growth rate. AEP's $72 billion five-year capital plan — spanning transmission, generation, and distribution — is among the largest in the utility sector. The stock appreciated meaningfully through 2025, though BMO Capital downgraded it to Market Perform in October, citing valuation that now reflects much of the company's repositioning success.
EVRG Overview and Recent Performance
Evergy, based in Kansas City, Missouri, serves approximately 1.7 million customers across Kansas and Missouri through its operating subsidiaries Kansas City Power & Light and Westar Energy. The company reported full-year 2025 adjusted earnings of $3.83 per share, a modest increase from $3.81 in 2024, with results pressured by milder-than-normal weather and softer industrial demand. In a pivotal regulatory milestone, EVRG secured approval of new Large Load Power Service (LLPS) tariffs in both Kansas and Missouri during the fourth quarter — a framework ensuring new large customers pay premium rates that cover their fair share of system costs. The company recently announced signed electric service agreements for four major data center projects representing roughly 1.9 GW of peak demand. Looking ahead, Evergy introduced a $21.6 billion five-year capital plan (2026-2030) and established 2026 adjusted EPS guidance of $4.14 to $4.34, targeting 6-8%+ annual growth with acceleration above 8% beginning in 2028. The board declared a 4% dividend increase to an annualized $2.78 per share, marking the 22nd consecutive year of dividend growth.
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Head-to-Head Comparison
The most immediate contrast between these two utilities is scale. AEP commands a market capitalization near $65 billion and generates over $21 billion in annual revenue, while EVRG operates with a roughly $19 billion market cap and about $6 billion in annual revenue. This size differential directly translates into growth opportunity: AEP's 56 GW of contracted incremental load through 2030 is an order of magnitude larger than EVRG's pipeline, reflecting AEP's geographic footprint in some of the fastest-growing regions in the country, including Texas, Ohio, and Indiana.
On the capital deployment front, AEP's $72 billion plan dwarfs EVRG's $21.6 billion program, but EVRG's rate base is projected to grow at an 11.5% annualized rate — slightly ahead of AEP's 10% — suggesting proportionally faster infrastructure expansion relative to its size. Both companies have secured constructive regulatory outcomes: AEP has benefited from favorable legislation in Ohio, Oklahoma, and Texas, while EVRG's LLPS tariff approvals represent a foundational win that de-risks the data center growth story in its service territory.
From a reliability and execution standpoint, EVRG posted its strongest reliability year since formation but missed earnings estimates in both Q3 and Q4 of 2025, partly due to weather headwinds. AEP, by contrast, delivered full-year operating EPS at the high end of its guidance range. Dividend investors may find EVRG's higher yield (approximately 3.5%) and unbroken 22-year growth streak compelling, though AEP's payout ratio in the 50-60% range leaves ample room for continued increases alongside faster earnings growth.
On risk, both companies carry elevated debt levels typical of capital-intensive utilities. AEP has a debt-to-equity ratio of approximately 1.57 versus EVRG's roughly 1.26, reflecting AEP's more aggressive capital deployment. However, AEP's geographic and regulatory diversification across 11 states provides a buffer that EVRG's two-state concentration does not offer.
Tickeron AI Verdict
Based on observable factors — trend consistency, growth catalyst magnitude, regulatory momentum, and relative market positioning — Tickeron's AI framework would likely tilt in favor of AEP under current conditions. The company's unmatched transmission infrastructure, 56 GW contracted load pipeline, and 7-9% earnings growth trajectory represent a convergence of secular demand and structural advantage that is difficult to replicate. That said, EVRG should not be dismissed: its LLPS tariff framework provides a clear regulatory pathway for profitable data center growth, its rate base is expanding at a faster relative pace, and its dividend reliability appeals to risk-averse capital. The AI-driven view would likely characterize AEP as the stronger momentum-growth candidate and EVRG as the steadier income-compound play — with the final weighting depending on whether an investor prioritizes absolute growth scale or relative value and yield stability.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
To compare these two companies we present long-term analysis, their fundamental ratings and make comparative short-term technical analysis which are presented below. The conclusion is AEP is a Buy and EVRG is a StrongBuy.
Long-Term Analysis
It is best to consider a long-term outlook for a ticker by using Fundamental Analysis (FA) ratings. The rating of 1 to 100, where 1 is best and 100 is worst, is divided into thirds. The first third (a green rating of 1-33) indicates that the ticker is undervalued; the second third (a grey number between 34 and 66) means that the ticker is valued fairly; and the last third (red number of 67 to 100) reflects that the ticker is undervalued. We use an FA Score to show how many ratings show the ticker to be undervalued (green) or overvalued (red).
AEP’s FA Score shows that 1 FA rating(s) are green whileEVRG’s FA Score has 3 green FA rating(s).
- AEP’s FA Score: 1 green, 4 red.
- EVRG’s FA Score: 3 green, 2 red.
Short-Term Analysis
It is best to consider a short-term outlook for a ticker by using Technical Analysis (TA) indicators. We use Odds of Success as the percentage of outcomes which confirm successful trade signals in the past.
If the Odds of Success (the likelihood of the continuation of a trend) for each indicator are greater than 50%, then the generated signal is confirmed. A green percentage from 90% to 51% indicates that the ticker is in a bullish trend. A red percentage from 90% - 51% indicates that the ticker is in a bearish trend. All grey percentages are below 50% and are considered not to confirm the trend signal.
AEP’s TA Score shows that 7 TA indicator(s) are bullish while EVRG’s TA Score has 4 bullish TA indicator(s).
- AEP’s TA Score: 7 bullish, 3 bearish.
- EVRG’s TA Score: 4 bullish, 4 bearish.
Price Growth
AEP (@Electric Utilities) experienced а +1.34% price change this week, while EVRG (@Electric Utilities) price change was +0.10% for the same time period.
The average weekly price growth across all stocks in the @Electric Utilities industry was +1.73%. For the same industry, the average monthly price growth was +0.97%, and the average quarterly price growth was +6.24%.
Reported Earning Dates
AEP is expected to report earnings on Jul 30, 2026.
EVRG is expected to report earnings on Jul 30, 2026.
Industries' Descriptions
@Electric Utilities (+1.73% weekly)Electric utilities companies generate, transmit and distribute electricity to businesses/offices and residences. Companies may be owned by the government or investors or public shareholders, or a combination thereof. The industry also includes firms that buy and sell electricity. Companies in this industry typically require significant investments in infrastructure. Many firms in this industry pay substantial and regular dividends to shareholders. However, changes in interest rates (and their impact on debt burdens), natural disasters and changing commodity prices could be factors affecting energy utilities’ profit margins. NextEra Energy, Inc., Duke Energy Corporation, Dominion Energy Inc. and Southern Company are among U.S. electric utilities companies with the largest market capitalizations.
| AEP | EVRG | AEP / EVRG | |
| Capitalization | 73.4B | 20B | 367% |
| EBITDA | 9.4B | 2.79B | 338% |
| Gain YTD | 18.788 | 21.551 | 87% |
| P/E Ratio | 19.96 | 23.05 | 87% |
| Revenue | 22.4B | 6.03B | 371% |
| Total Cash | 516M | 18.4M | 2,804% |
| Total Debt | 51.8B | 15.9B | 326% |
AEP | EVRG | ||
|---|---|---|---|
OUTLOOK RATING 1..100 | 86 | 88 | |
VALUATION overvalued / fair valued / undervalued 1..100 | 53 Fair valued | 43 Fair valued | |
PROFIT vs RISK RATING 1..100 | 17 | 23 | |
SMR RATING 1..100 | 64 | 76 | |
PRICE GROWTH RATING 1..100 | 47 | 25 | |
P/E GROWTH RATING 1..100 | 53 | 27 | |
SEASONALITY SCORE 1..100 | 85 | 85 |
Tickeron ratings are formulated such that a rating of 1 designates the most successful stocks in a given industry, while a rating of 100 points to the least successful stocks for that industry.
EVRG's Valuation (43) in the Electric Utilities industry is in the same range as AEP (53). This means that EVRG’s stock grew similarly to AEP’s over the last 12 months.
AEP's Profit vs Risk Rating (17) in the Electric Utilities industry is in the same range as EVRG (23). This means that AEP’s stock grew similarly to EVRG’s over the last 12 months.
AEP's SMR Rating (64) in the Electric Utilities industry is in the same range as EVRG (76). This means that AEP’s stock grew similarly to EVRG’s over the last 12 months.
EVRG's Price Growth Rating (25) in the Electric Utilities industry is in the same range as AEP (47). This means that EVRG’s stock grew similarly to AEP’s over the last 12 months.
EVRG's P/E Growth Rating (27) in the Electric Utilities industry is in the same range as AEP (53). This means that EVRG’s stock grew similarly to AEP’s over the last 12 months.
| AEP | EVRG | |
|---|---|---|
| RSI ODDS (%) | 2 days ago 62% | 2 days ago 51% |
| Stochastic ODDS (%) | 2 days ago 56% | 2 days ago 63% |
| Momentum ODDS (%) | 2 days ago 61% | 2 days ago 56% |
| MACD ODDS (%) | 2 days ago 53% | 2 days ago 38% |
| TrendWeek ODDS (%) | 2 days ago 54% | 2 days ago 51% |
| TrendMonth ODDS (%) | 2 days ago 50% | 2 days ago 48% |
| Advances ODDS (%) | 2 days ago 58% | 2 days ago 50% |
| Declines ODDS (%) | 4 days ago 48% | 4 days ago 39% |
| BollingerBands ODDS (%) | 2 days ago 63% | 2 days ago 50% |
| Aroon ODDS (%) | 2 days ago 42% | 2 days ago 42% |
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AEP and
Correlation & Price change
A.I.dvisor indicates that over the last year, AEP has been closely correlated with LNT. These tickers have moved in lockstep 74% of the time. This A.I.-generated data suggests there is a high statistical probability that if AEP jumps, then LNT could also see price increases.