PPL (NYSE:PPL) Releases Quarterly Earnings Results

PPL (NYSE:PPL) announced its quarterly earnings data on Wednesday. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02, Briefing.com reports. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.39 billion. PPL had a net margin of 8.90% and a return on equity of 8.45%. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 earnings per share. PPL updated its FY24 guidance to $1.63-1.75 EPS.

PPL Stock Down 0.3 %

NYSE PPL traded down $0.09 during trading hours on Thursday, reaching $27.91. 7,045,016 shares of the company traded hands, compared to its average volume of 4,995,653. PPL has a 12 month low of $22.20 and a 12 month high of $28.93. The company has a current ratio of 0.88, a quick ratio of 0.73 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $20.59 billion, a PE ratio of 28.00, a PEG ratio of 2.50 and a beta of 0.81. The company has a 50 day moving average of $26.98 and a two-hundred day moving average of $26.38.

PPL Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were issued a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 3.69%. This is a positive change from PPL’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, March 7th. PPL’s dividend payout ratio (DPR) is presently 103.00%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PPL shares. Bank of America upped their price objective on shares of PPL from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Mizuho upped their price target on shares of PPL from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday. Argus raised shares of PPL from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Friday, March 8th. Barclays upped their price target on shares of PPL from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Finally, Royal Bank of Canada upped their price target on shares of PPL from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $32.09.

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.