PPL (NYSE:PPL) Issues Quarterly Earnings Results

PPL (NYSE:PPL) 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.

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.