PPL Corp (NYSE:PPL) Announces Quarterly Dividend of $0.42

PPL Corp (NYSE:PPL) announced a quarterly dividend on Tuesday, February 18th, Wall Street Journal reports. Stockholders of record on Tuesday, March 10th will be given a dividend of 0.415 per share by the utilities provider on Wednesday, April 1st. This represents a $1.66 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date is Monday, March 9th. This is a positive change from PPL’s previous quarterly dividend of $0.41.

PPL has raised its dividend payment by an average of 1.5% per year over the last three years and has increased its dividend every year for the last 8 years. PPL has a payout ratio of 65.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PPL to earn $2.55 per share next year, which means the company should continue to be able to cover its $1.65 annual dividend with an expected future payout ratio of 64.7%.

Shares of PPL stock traded up $0.54 during trading hours on Tuesday, reaching $35.91. The company’s stock had a trading volume of 7,931,553 shares, compared to its average volume of 4,435,555. The firm has a 50 day moving average price of $35.93 and a 200-day moving average price of $33.06. PPL has a one year low of $28.55 and a one year high of $36.83. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.56 and a quick ratio of 0.50. The stock has a market cap of $25.57 billion, a P/E ratio of 15.15 and a beta of 0.51.

PPL (NYSE:PPL) last posted its earnings results on Friday, February 14th. The utilities provider reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. PPL had a net margin of 22.47% and a return on equity of 14.73%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the firm posted $0.52 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. As a group, sell-side analysts forecast that PPL will post 2.54 EPS for the current fiscal year.

In related news, CEO William H. Spence sold 388,968 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $34.32, for a total transaction of $13,349,381.76. Corporate insiders own 0.34% of the company’s stock.

PPL has been the topic of a number of research reports. Argus restated a “buy” rating and issued a $39.00 target price (up from $34.00) on shares of PPL in a report on Friday, January 10th. UBS Group boosted their target price on shares of PPL from $49.00 to $51.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. SunTrust Banks upped their price target on shares of PPL from $37.00 to $40.00 and gave the company a “buy” rating in a report on Monday, December 16th. Guggenheim upgraded shares of PPL from a “neutral” rating to a “buy” rating in a report on Tuesday, January 7th. Finally, Citigroup upped their price target on shares of PPL from $33.00 to $36.00 and gave the company a “neutral” rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. PPL currently has a consensus rating of “Hold” and an average price target of $38.88.

About PPL

PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 414,000 electric and 328,000 natural gas customers in Louisville and adjacent areas in Kentucky; 527,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.

Read More: Hedge Funds Explained

Dividend History for PPL (NYSE:PPL)

Receive News & Ratings for PPL Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPL and related companies with MarketBeat.com's FREE daily email newsletter.