PPL (NYSE:PPL) issued its quarterly earnings results on Friday. The utilities provider reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.04, RTT News reports. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $2.08 billion. PPL had a return on equity of 14.73% and a net margin of 23.17%. PPL’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the business earned $0.52 earnings per share. PPL updated its FY 2021
Pre-Market guidance to 2.40-2.60 EPS and its FY20 guidance to $2.40-2.60 EPS.
NYSE:PPL traded down $0.92 during trading hours on Friday, hitting $35.36. The company’s stock had a trading volume of 700,002 shares, compared to its average volume of 4,196,131. The stock has a fifty day simple moving average of $35.94 and a 200-day simple moving average of $32.98. The company has a market capitalization of $26.12 billion, a P/E ratio of 14.38 and a beta of 0.51. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.66 and a quick ratio of 0.58. PPL has a twelve month low of $28.55 and a twelve month high of $36.83.
In other PPL news, CEO William H. Spence sold 388,968 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $34.32, for a total transaction of $13,349,381.76. Also, COO Vincent Sorgi sold 13,696 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.04, for a total transaction of $466,211.84. Following the completion of the transaction, the chief operating officer now directly owns 30,976 shares of the company’s stock, valued at approximately $1,054,423.04. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.
Several research firms recently weighed in on PPL. Wells Fargo & Co initiated coverage on shares of PPL in a research report on Thursday, December 19th. They set an “equal weight” rating and a $50.00 price objective for the company. Citigroup raised their target price on shares of PPL from $33.00 to $36.00 and gave the company a “neutral” rating in a report on Monday, January 27th. ValuEngine cut shares of PPL from a “hold” rating to a “sell” rating in a research report on Thursday, December 19th. UBS Group boosted their target price on shares of PPL from $49.00 to $51.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $33.00 price target on shares of PPL in a report on Monday, January 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $38.88.
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 414,000 electric and 328,000 natural gas customers in Louisville and adjacent areas in Kentucky; 527,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.
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