PPL (NYSE:PPL) Issues FY24 Earnings Guidance

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

Wall Street Analyst Weigh In

PPL has been the topic of several analyst reports. Mizuho upped their price target on shares of PPL from $27.00 to $28.00 and gave the company a neutral rating in a report on Thursday. Barclays upped their target price on PPL from $27.00 to $28.00 and gave the company an equal weight rating in a research note on Thursday, March 14th. Royal Bank of Canada raised 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. TheStreet lowered PPL from a b- rating to a c rating in a research note on Friday, February 16th. Finally, Argus raised shares of PPL from a hold rating to a buy rating and set a $30.00 target price for the company in a research note on Friday, March 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $32.27.

PPL Trading Up 0.6 %

NYSE:PPL opened at $28.09 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.73 and a current ratio of 1.28. The firm has a 50-day simple moving average of $27.00 and a 200-day simple moving average of $26.39. PPL has a one year low of $22.20 and a one year high of $28.93. The firm has a market cap of $20.72 billion, a P/E ratio of 27.27, a P/E/G ratio of 2.54 and a beta of 0.81.

PPL (NYSE:PPL) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. PPL had a return on equity of 8.80% and a net margin of 9.29%. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the prior year, the business earned $0.48 earnings per share. PPL’s revenue was down 4.6% on a year-over-year basis. Equities analysts anticipate that PPL will post 1.7 EPS for the current fiscal year.

PPL Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were given a dividend of $0.2575 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.03 dividend on an annualized basis and a yield of 3.67%. This is a boost from PPL’s previous quarterly dividend of $0.24. PPL’s payout ratio is currently 100.00%.

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.