PPL Corporation (PPL) Plans $0.40 Quarterly Dividend
PPL Corporation (NYSE:PPL) declared a quarterly dividend on Friday, August 25th, RTT News reports. Shareholders of record on Friday, September 8th will be given a dividend of 0.395 per share by the utilities provider on Monday, October 2nd. This represents a $1.58 dividend on an annualized basis and a yield of 3.99%.
PPL Corporation has raised its dividend payment by an average of 1.2% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. PPL Corporation has a dividend payout ratio of 73.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect PPL Corporation to earn $2.31 per share next year, which means the company should continue to be able to cover its $1.58 annual dividend with an expected future payout ratio of 68.4%.
PPL Corporation (NYSE PPL) opened at 39.59 on Friday. The firm has a 50-day moving average of $38.49 and a 200-day moving average of $38.04. PPL Corporation has a 12-month low of $32.08 and a 12-month high of $40.20. The firm has a market cap of $27.15 billion, a P/E ratio of 16.57 and a beta of 0.49.
PPL Corporation (NYSE:PPL) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.02. PPL Corporation had a return on equity of 15.96% and a net margin of 22.08%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the company earned $0.56 EPS. The company’s revenue was down 3.4% on a year-over-year basis. On average, analysts expect that PPL Corporation will post $2.15 EPS for the current year.
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Several brokerages have recently issued reports on PPL. Zacks Investment Research lowered PPL Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub lowered PPL Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) upgraded PPL Corporation from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $35.00 to $38.00 in a research report on Monday, June 26th. Finally, Jefferies Group LLC upgraded PPL Corporation from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $39.50 to $42.00 in a research report on Wednesday, July 19th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $38.94.
In other PPL Corporation news, VP Joseph P. Bergstein, Jr. sold 2,929 shares of PPL Corporation stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $38.55, for a total transaction of $112,912.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Vincent Sorgi sold 5,600 shares of PPL Corporation stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $39.00, for a total value of $218,400.00. Following the transaction, the insider now directly owns 97 shares in the company, valued at $3,783. The disclosure for this sale can be found here. Insiders have sold a total of 55,391 shares of company stock worth $2,181,282 over the last ninety days. Company insiders own 0.40% of the company’s stock.
About PPL Corporation
PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. PPL operates through U.K.
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