Electric Company PPL Powers Past Q1 Estimates, Eyes Bright Future
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 01 2024
0mins
Source: earning
- PPL Corporation Financial Performance: PPL shares are up after reporting first-quarter FY24 operating revenue growth, beating consensus estimates. Electricity sales increased year-over-year in both PA and KY regulated segments.
- Operational Income and EPS: Operating income rose to $545 million, adjusted EPS was $0.54, surpassing expectations.
- Cash Flow and Infrastructure Investments: Net cash provided by operating activities decreased compared to the previous year. The company plans over $3 billion in infrastructure improvements in 2024 as part of a larger modernization plan.
- Outlook and Growth Targets: PPL expects EPS of $1.63 to $1.75 in FY24, with continued annual adjusted EPS and dividend growth targets through 2027.
- Investor Information: Investors can access PPL stock through First Trust EIP Carbon Impact ETF and First Trust North American Energy Infrastructure Fund. PPL shares were trading higher at $28.04.
Analyst Views on PPL
Wall Street analysts forecast PPL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PPL is 40.58 USD with a low forecast of 36.00 USD and a high forecast of 45.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
9 Buy
3 Hold
0 Sell
Strong Buy
Current: 36.630
Low
36.00
Averages
40.58
High
45.00
Current: 36.630
Low
36.00
Averages
40.58
High
45.00
About PPL
PPL Corporation is an energy company. The Company is focused on providing electricity and natural gas in the United States. The Company operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The Kentucky Regulated segment consists primarily of the regulated electricity generation, transmission and distribution operations conducted by Louisville Gas & Electric Company (LG&E) and Kentucky Utilities Company (KU), as well as LG&E's regulated distribution and sale of natural gas. LG&E and KU are engaged in the regulated generation, transmission, distribution and sale of electricity in Kentucky and, in KU's case, also Virginia. The Pennsylvania Regulated segment includes the regulated electricity transmission and distribution operations of PPL Electric. The Rhode Island Regulated segment includes the regulated electricity transmission and distribution operations and regulated distribution and sale of natural gas conducted by RIE.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
