PPL Co. (NYSE:PPL) Expected to Post Q3 2024 Earnings of $0.40 Per Share

PPL Co. (NYSE:PPL) – Analysts at Zacks Research cut their Q3 2024 earnings estimates for shares of PPL in a note issued to investors on Monday, October 14th. Zacks Research analyst R. Department now forecasts that the utilities provider will post earnings of $0.40 per share for the quarter, down from their previous forecast of $0.41. The consensus estimate for PPL’s current full-year earnings is $1.72 per share. Zacks Research also issued estimates for PPL’s Q3 2025 earnings at $0.48 EPS, Q1 2026 earnings at $0.56 EPS and FY2026 earnings at $1.95 EPS.

PPL has been the subject of a number of other reports. Bank of America upped their price target on PPL from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Wells Fargo & Company upped their price target on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Jefferies Financial Group assumed coverage on PPL in a report on Thursday, September 19th. They set a “buy” rating and a $38.00 price objective for the company. Finally, Morgan Stanley lifted their price target on shares of PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, PPL presently has a consensus rating of “Moderate Buy” and an average price target of $34.56.

PPL Price Performance

PPL opened at $32.36 on Wednesday. The company has a fifty day moving average price of $31.96 and a two-hundred day moving average price of $29.56. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.91 and a current ratio of 1.11. The firm has a market capitalization of $23.87 billion, a PE ratio of 31.41, a P/E/G ratio of 2.72 and a beta of 0.82. PPL has a 52 week low of $23.36 and a 52 week high of $33.38.

PPL (NYSE:PPL) last issued its quarterly earnings results on Friday, August 2nd. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.05. PPL had a return on equity of 9.26% and a net margin of 10.17%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the firm posted $0.29 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year.

Institutional Trading of PPL

A number of hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. raised its stake in PPL by 91.3% during the second quarter. Point72 Asset Management L.P. now owns 5,821,936 shares of the utilities provider’s stock worth $160,977,000 after buying an additional 2,778,820 shares during the last quarter. Electron Capital Partners LLC grew its stake in PPL by 71.3% in the 2nd quarter. Electron Capital Partners LLC now owns 4,306,007 shares of the utilities provider’s stock valued at $119,061,000 after purchasing an additional 1,792,200 shares during the period. Clearbridge Investments LLC raised its position in PPL by 50.3% in the first quarter. Clearbridge Investments LLC now owns 4,701,515 shares of the utilities provider’s stock worth $129,433,000 after acquiring an additional 1,572,771 shares during the period. Bahl & Gaynor Inc. bought a new position in shares of PPL during the 1st quarter worth $31,713,000. Finally, Jennison Associates LLC raised its position in shares of PPL by 21.8% in the first quarter. Jennison Associates LLC now owns 4,217,410 shares of the utilities provider’s stock valued at $116,105,000 after purchasing an additional 755,689 shares during the period. 76.99% of the stock is owned by institutional investors and hedge funds.

PPL Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were paid a dividend of $0.2575 per share. The ex-dividend date was Tuesday, September 10th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.18%. PPL’s payout ratio is presently 100.00%.

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.