PPL (NYSE:PPL) Announces Quarterly Earnings Results

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

PPL Stock Down 3.1 %

Shares of PPL stock traded down $1.00 on Friday, hitting $31.56. The company had a trading volume of 5,959,107 shares, compared to its average volume of 3,855,602. PPL has a twelve month low of $24.78 and a twelve month high of $33.38. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.11 and a quick ratio of 0.91. The stock has a 50-day moving average of $32.33 and a 200-day moving average of $30.01. The firm has a market capitalization of $23.28 billion, a P/E ratio of 27.68, a P/E/G ratio of 2.78 and a beta of 0.81.

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 issued a dividend of $0.2575 per share. The ex-dividend date was Tuesday, September 10th. This represents a $1.03 annualized dividend and a yield of 3.26%. PPL’s dividend payout ratio (DPR) is currently 90.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PPL shares. Bank of America boosted their price target on shares of PPL from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. 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 target on the stock. Wells Fargo & Company raised their price target on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Morgan Stanley increased their target price on PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Barclays boosted their target price on PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.