PPL (NYSE:PPL) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

PPL (NYSE:PPL) released its quarterly earnings data on Friday. The utilities provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03, Briefing.com reports. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.10 billion. PPL had a return on equity of 9.26% and a net margin of 10.17%. PPL’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. PPL updated its FY24 guidance to $1.67-1.73 EPS and its FY 2024 guidance to 1.670-1.730 EPS.

PPL Stock Performance

Shares of PPL stock opened at $31.56 on Monday. The stock has a market capitalization of $23.28 billion, a PE ratio of 27.68, a PEG ratio of 2.78 and a beta of 0.81. PPL has a one year low of $24.78 and a one year high of $33.38. The business’s 50 day simple moving average is $32.33 and its 200 day simple moving average is $30.06. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.11 and a quick ratio of 0.91.

PPL Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were issued a $0.2575 dividend. This represents a $1.03 annualized dividend and a yield of 3.26%. The ex-dividend date was Tuesday, September 10th. PPL’s payout ratio is presently 90.35%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PPL shares. Bank of America raised their price objective on PPL from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Barclays raised their price objective on PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Wells Fargo & Company lifted their price target on PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Jefferies Financial Group initiated coverage on PPL in a research note on Thursday, September 19th. They issued a “buy” rating and a $38.00 price objective for the company. Finally, Morgan Stanley upped their price objective on PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.40.

About PPL

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.