PPL Corp (PPL) Declares Quarterly Dividend of $0.40
PPL Corp (NYSE:PPL) announced a quarterly dividend on Wednesday, May 17th. Stockholders of record on Friday, June 9th will be paid a dividend of 0.395 per share by the utilities provider on Monday, July 3rd. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.11%.
PPL Corp 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 Corp has a dividend payout ratio of 73.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect PPL Corp to earn $2.33 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 67.8%.
Shares of PPL Corp (NYSE:PPL) traded up 0.49% during mid-day trading on Wednesday, hitting $38.67. 1,597,037 shares of the stock were exchanged. The firm has a market cap of $26.42 billion, a price-to-earnings ratio of 14.48 and a beta of 0.45. The stock has a 50-day moving average price of $37.93 and a 200 day moving average price of $35.63. PPL Corp has a 52-week low of $32.08 and a 52-week high of $39.92.
PPL Corp (NYSE:PPL) last issued its quarterly earnings results on Thursday, May 4th. The utilities provider reported $0.62 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.62. PPL Corp had a net margin of 25.30% and a return on equity of 16.76%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the company earned $0.67 EPS. PPL Corp’s quarterly revenue was down 3.0% on a year-over-year basis. On average, equities research analysts expect that PPL Corp will post $2.16 earnings per share for the current year.
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Several brokerages recently weighed in on PPL. Jefferies Group LLC increased their price target on shares of PPL Corp from $36.50 to $39.00 and gave the stock a “hold” rating in a report on Monday, April 24th. Deutsche Bank AG increased their price target on shares of PPL Corp from $36.00 to $38.00 and gave the stock a “hold” rating in a report on Tuesday, April 11th. Barclays PLC reiterated a “hold” rating and issued a $38.00 price target on shares of PPL Corp in a report on Thursday, February 2nd. Finally, Goldman Sachs Group Inc downgraded shares of PPL Corp from a “neutral” rating to a “sell” rating and cut their price target for the stock from $34.00 to $33.00 in a report on Tuesday, January 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. PPL Corp has an average rating of “Hold” and a consensus target price of $38.00.
In other news, SVP Joanne H. Raphael sold 4,035 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $36.57, for a total transaction of $147,559.95. Following the sale, the senior vice president now owns 16,799 shares of the company’s stock, valued at approximately $614,339.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert A. Symons sold 12,703 shares of the firm’s stock in a transaction that occurred on Thursday, March 23rd. The stock was sold at an average price of $37.60, for a total transaction of $477,632.80. Following the sale, the insider now directly owns 1 shares in the company, valued at approximately $37.60. The disclosure for this sale can be found here. Insiders have sold a total of 74,023 shares of company stock worth $2,735,876 in the last ninety days. Corporate insiders own 0.42% of the company’s stock.
About PPL Corp
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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