PPL (NYSE:PPL) Issues FY24 Earnings Guidance

PPL (NYSE:PPL) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.63-1.75 for the period, compared to the consensus earnings per share estimate of $1.70.

PPL Price Performance

Shares of NYSE PPL opened at $28.09 on Friday. PPL has a 1-year low of $22.20 and a 1-year high of $28.93. The firm has a market capitalization of $20.72 billion, a PE ratio of 27.27, a P/E/G ratio of 2.54 and a beta of 0.81. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.28 and a quick ratio of 0.73. The business’s fifty day moving average price is $27.00 and its two-hundred day moving average price is $26.39.

PPL (NYSE:PPL) last issued its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. 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 the consensus estimate of $2.39 billion. During the same period last year, the firm posted $0.48 EPS. PPL’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, research analysts expect that PPL will post 1.7 EPS for the current year.

PPL Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were issued a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a yield of 3.67%. This is a positive change from PPL’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, March 7th. PPL’s dividend payout ratio is 100.00%.

Analyst Ratings Changes

A number of brokerages have issued reports on PPL. StockNews.com lowered PPL from a hold rating to a sell rating in a research report on Thursday. TheStreet downgraded shares of PPL from a b- rating to a c rating in a report on Friday, February 16th. Bank of America raised their target price 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. 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 note on Thursday, April 11th. Finally, Wells Fargo & Company raised their price objective on shares of PPL from $30.00 to $32.00 and gave the company an overweight rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $32.27.

About PPL

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.