PPL (NYSE:PPL) Issues Quarterly Earnings Results

PPL (NYSE:PPLGet Free Report) posted its quarterly earnings results on Friday. The utilities provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.33 by $0.05, Briefing.com reports. PPL had a net margin of 9.29% and a return on equity of 8.80%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the previous year, the business posted $0.29 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. PPL updated its FY24 guidance to $1.63-1.75 EPS.

PPL Stock Performance

NYSE:PPL traded up $0.33 during trading hours on Friday, hitting $30.64. 11,056,019 shares of the company were exchanged, compared to its average volume of 4,873,844. The stock has a market capitalization of $22.60 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 2.54 and a beta of 0.81. PPL has a 52-week low of $22.20 and a 52-week high of $31.45. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.28 and a quick ratio of 1.08. The company’s 50 day moving average price is $28.41 and its 200-day moving average price is $27.53.

PPL Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 10th were given a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 3.36%. The ex-dividend date was Monday, June 10th. PPL’s dividend payout ratio is presently 100.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Royal Bank of Canada boosted their price target on shares of PPL from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Morgan Stanley reduced their price target on shares of PPL from $32.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Bank of America boosted their price objective on shares of PPL from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Mizuho boosted their price objective on shares of PPL from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Finally, StockNews.com upgraded shares of PPL from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $32.36.

Read Our Latest Analysis on PPL

PPL Company Profile

(Get Free Report)

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.

Further Reading

Earnings History for PPL (NYSE:PPL)

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