PPL (NYSE:PPL) Announces Quarterly Earnings Results

PPL (NYSE:PPLGet Free Report) 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.

Check Out Our Latest Report on PPL

About PPL

(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.

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Earnings History for PPL (NYSE:PPL)

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