PPL (NYSE:PPL) Issues Quarterly Earnings Results

PPL (NYSE:PPL) posted its earnings results on Wednesday. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02, Briefing.com reports. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.39 billion. PPL had a return on equity of 8.80% and a net margin of 9.29%. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period last year, the business posted $0.48 earnings per share. PPL updated its FY24 guidance to $1.63-1.75 EPS.

PPL Trading Up 0.6 %

PPL traded up $0.17 during trading on Friday, reaching $28.09. 3,810,483 shares of the company’s stock were exchanged, compared to its average volume of 4,444,747. The company’s fifty day moving average price is $27.00 and its 200-day moving average price is $26.39. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.73 and a current ratio of 1.28. The firm has a market capitalization of $20.72 billion, a PE ratio of 27.27, a P/E/G ratio of 2.54 and a beta of 0.81. PPL has a fifty-two week low of $22.20 and a fifty-two week high of $28.93.

PPL Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were issued a $0.2575 dividend. This is a positive change from PPL’s previous quarterly dividend of $0.24. This represents a $1.03 annualized dividend and a yield of 3.67%. The ex-dividend date was Thursday, March 7th. PPL’s dividend payout ratio is currently 100.00%.

Analysts Set New Price Targets

A number of research firms have issued reports on PPL. Argus raised shares of PPL from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Friday, March 8th. Royal Bank of Canada upped their target price on PPL from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Bank of America boosted their price objective on PPL from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Mizuho lifted their target price on shares of PPL from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, StockNews.com lowered shares of PPL from a “hold” rating to a “sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $32.27.

PPL Company Profile

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.