PPL (NYSE:PPL) Announces Earnings Results, Beats Expectations By $0.02 EPS

PPL (NYSE:PPL) posted its quarterly earnings data on Wednesday. The utilities provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02, Briefing.com reports. PPL had a net margin of 9.29% and a return on equity of 8.80%. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter last year, the company posted $0.48 EPS. The business’s quarterly revenue was down 4.6% on a year-over-year basis. PPL updated its FY24 guidance to $1.63-1.75 EPS.

PPL Trading Up 0.6 %

Shares of NYSE PPL traded up $0.17 during trading hours on Friday, hitting $28.09. 3,760,655 shares of the company traded hands, compared to its average volume of 4,981,870. The stock has a market capitalization of $20.72 billion, a price-to-earnings ratio of 27.27, a price-to-earnings-growth ratio of 2.55 and a beta of 0.81. The company’s 50 day moving average price is $27.00 and its 200 day moving average price is $26.39. PPL has a 12 month low of $22.20 and a 12 month high of $28.93. The company has a current ratio of 1.28, a quick ratio of 0.73 and a debt-to-equity ratio of 1.12.

PPL Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were given a $0.2575 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.03 annualized dividend and a yield of 3.67%. This is a positive change from PPL’s previous quarterly dividend of $0.24. PPL’s dividend payout ratio (DPR) is currently 100.00%.

Analysts Set New Price Targets

PPL has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of PPL from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. Bank of America upped their target price on shares of PPL from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Wells Fargo & Company boosted their price objective on shares of PPL from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday. Royal Bank of Canada upped their price target on PPL from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, Mizuho increased their price objective on PPL from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $32.27.

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.