Q1 2024 Earnings Forecast for PPL Co. (NYSE:PPL) Issued By Zacks Research

PPL Co. (NYSE:PPL) – Equities researchers at Zacks Research raised their Q1 2024 earnings estimates for shares of PPL in a research report issued to clients and investors on Thursday, April 25th. Zacks Research analyst R. Department now anticipates that the utilities provider will earn $0.52 per share for the quarter, up from their previous forecast of $0.51. The consensus estimate for PPL’s current full-year earnings is $1.70 per share. Zacks Research also issued estimates for PPL’s Q2 2024 earnings at $0.29 EPS, FY2024 earnings at $1.70 EPS, Q1 2025 earnings at $0.56 EPS and Q1 2026 earnings at $0.58 EPS.

PPL (NYSE:PPL) last released its earnings results on Friday, February 16th. The utilities provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. PPL had a net margin of 8.90% and a return on equity of 8.45%. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the prior year, the company earned $0.28 EPS. The business’s quarterly revenue was down 11.3% compared to the same quarter last year.

Other equities research analysts have also issued research reports about the stock. TheStreet lowered shares of PPL from a “b-” rating to a “c” rating in a report on Friday, February 16th. Argus upgraded shares of PPL from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Friday, March 8th. StockNews.com upgraded shares of PPL from a “sell” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Company lowered their target price on shares of PPL from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Tuesday, February 20th. Finally, Barclays boosted their target price on shares of PPL from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.50.

PPL Stock Down 0.3 %

PPL opened at $27.30 on Friday. The firm’s 50-day simple moving average is $26.91 and its 200-day simple moving average is $26.26. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.73 and a current ratio of 0.88. PPL has a twelve month low of $22.20 and a twelve month high of $29.03. The firm has a market cap of $20.14 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 2.49 and a beta of 0.81.

Hedge Funds Weigh In On PPL

Large investors have recently bought and sold shares of the stock. Philadelphia Trust Co. increased its position in shares of PPL by 2.4% during the 4th quarter. Philadelphia Trust Co. now owns 16,851 shares of the utilities provider’s stock valued at $457,000 after purchasing an additional 400 shares during the last quarter. Mutual Advisors LLC increased its holdings in PPL by 0.9% in the 3rd quarter. Mutual Advisors LLC now owns 46,833 shares of the utilities provider’s stock worth $1,103,000 after acquiring an additional 415 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. increased its holdings in PPL by 0.5% in the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 77,512 shares of the utilities provider’s stock worth $2,087,000 after acquiring an additional 418 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in PPL by 5.4% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 8,192 shares of the utilities provider’s stock valued at $222,000 after buying an additional 421 shares in the last quarter. Finally, Wealth Alliance grew its holdings in PPL by 2.3% during the 4th quarter. Wealth Alliance now owns 19,792 shares of the utilities provider’s stock valued at $536,000 after buying an additional 450 shares in the last quarter. 76.99% of the stock is currently owned by institutional investors.

PPL Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a dividend of $0.2575 per share. The ex-dividend date was Thursday, March 7th. This is a boost from PPL’s previous quarterly dividend of $0.24. This represents a $1.03 annualized dividend and a yield of 3.77%. PPL’s dividend payout ratio (DPR) is 103.00%.

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.