PPL (NYSE:PPL) Releases Earnings Results, Beats Expectations By $0.05 EPS

PPL (NYSE:PPL) released its earnings results on Friday. The utilities provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05, Briefing.com reports. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.92 billion. PPL had a net margin of 9.29% and a return on equity of 8.80%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 EPS. PPL updated its FY24 guidance to $1.63-1.75 EPS and its FY 2024 guidance to 1.630-1.750 EPS.

PPL Stock Up 1.1 %

PPL opened at $30.64 on Friday. PPL has a 1-year low of $22.20 and a 1-year high of $31.45. The firm’s 50 day simple moving average is $28.45 and its two-hundred day simple moving average is $27.56. The company has a current ratio of 1.28, a quick ratio of 1.08 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $22.60 billion, a PE ratio of 29.75, a PEG ratio of 2.59 and a beta of 0.81.

PPL Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 10th were given a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a dividend yield of 3.36%. The ex-dividend date was Monday, June 10th. PPL’s payout ratio is currently 100.00%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PPL. Bank of America lifted their target price on shares of PPL from $29.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Wells Fargo & Company increased their target price on PPL from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Morgan Stanley lowered their price target on PPL from $32.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Mizuho increased their price objective on shares of PPL from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada raised their price objective on shares of PPL from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, PPL presently has an average rating of “Moderate Buy” and a consensus target price of $32.36.

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.