PPL CorporationNYSE: PPL
Utilities · Electric Utilities
$35.39
+0.16%
Vol: 10.4M
Research Digest
Friday, June 19, 2026
Pennsylvania PUC approves PPL Electric $275M annual rate increase effective July 1, boosting revenue outlook as company reaffirms 6-8% EPS growth through 2029.
On June 4, 2026, PPL Electric Utilities Corporation (NYSE: PPL) announced that the Pennsylvania Public Utility Commission approved a settlement allowing PPL Electric to increase its annual base distribution revenue by approximately $275 million, effective July 1, 2026. The company achieved Q1 2026 ongoing EPS of $0.63 vs. $0.60 in Q1 2025 and reaffirmed its 2026 ongoing EPS forecast of $1.90-$1.98 (midpoint $1.94), along with annual EPS growth of 6-8% through at least 2029 — with compound annual growth expected near the top of that range. Jefferies raised its target to $48 (Buy) citing the Pennsylvania settlement and Blackstone JV data center potential; Barclays set a target of $41 (Overweight); Morgan Stanley trimmed to $43 (Overweight). The ex-dividend date was June 10, with a $0.28/share dividend.
Previous Market Intelligence
13 daysJun 18No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 17No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 16No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 21PPL reaffirms 2026 guidance after Q1 beat; PA data center pipeline grows to 28.3 GW with 10 GW signedNeutral▶
PPL declared a quarterly common dividend of $0.2850 per share payable July 1 (record date June 10) and shareholders approved the amended 2012 Stock Incentive Plan at the May 13 annual meeting. The utility also priced $500M of 5.75% First Mortgage Bonds due 2056 on May 12 via PPL Electric to repay short-term debt. Advanced-stage data center demand in Pennsylvania rose 12% to 28.3 GW with 10 GW under signed service agreements, supporting the long-term 6-8% EPS growth target through 2029. JPMorgan trimmed its PT to $42 from $43 and BMO Capital cut to $40 from $42, signaling moderate near-term caution. Risk: rising capex (planned $5.1B in 2026) and regulatory exposure could compress returns if data center demand softens.
May 20PPL Corp reaffirms 2026 EPS guidance of $1.90-$1.98 after Q1 beat; issues $500M 5.75% First Mortgage Bonds due 2056Positive▶
PPL Corporation reported Q1 2026 reported earnings of $452M ($0.60/share) vs $414M ($0.56) prior year, with ongoing EPS of $0.63 vs $0.60. Management reaffirmed 2026 ongoing EPS guidance of $1.90-$1.98 (midpoint $1.94) and 6-8% annual EPS growth through at least 2029, expecting compound growth near the top end of the range. At the May 13 annual meeting, shareholders approved the Second Amended and Restated 2012 Stock Incentive Plan and elected all nine director nominees. PPL Electric Utilities priced $500M of 5.75% First Mortgage Bonds due 2056 (May 12) and senior unsecured notes at 6.00% maturing May 15, 2056, to fund continued infrastructure investment.
May 19PPL Electric Utilities prices $500M 5.75% First Mortgage Bonds due 2056 issued May 15, with sell-side cutting targets.Mixed▶
On May 12, 2026, PPL Electric Utilities entered an underwriting agreement to issue $500 million of First Mortgage Bonds at 5.75% due 2056, with the bonds issued May 15, 2026, and PPL Corp also issuing notes at 6.000% maturing May 15, 2056. On May 13, PPL declared a quarterly dividend of $0.2850 per share payable July 1, 2026 and held its annual shareholder meeting where all nine directors were elected and the amended 2012 Stock Incentive Plan was approved. JPMorgan cut its price target to $42 from $43, BMO Capital to $40 from $42, and Barclays to $39 from $41 in mid-May despite the May 8 Q1 earnings beat ($0.63 ongoing EPS vs. $0.60 prior year) and reaffirmed 2026 guidance of $1.90-$1.98. Shares fell 2.52% to $34.88 on May 15. The higher long-end coupons are a financing-cost watch item even as PPL maintains its 6-8% EPS growth target through 2029.
May 18PPL Corp delivered Q1 2026 ongoing EPS of $0.63 (beat), reaffirmed $1.90-$1.98 guidance, and grew its advanced PA data center pipeline to 28.3 GW.Positive▶
PPL Corporation reported Q1 2026 GAAP earnings of $452M ($0.60/share) and ongoing earnings of $478M ($0.63/share), versus $0.60 a year ago. Revenue rose 10.8% YoY to $2.77B. The company reaffirmed 2026 ongoing EPS guidance of $1.90-$1.98 and a long-term 6-8% annual EPS growth target through at least 2029, with $5.1B planned 2026 capex. PPL's advanced-stage data center pipeline in Pennsylvania grew 12% to 28.3 GW (10 GW with signed agreements), with the Kentucky pipeline at 12.9 GW. At the May 13 annual meeting, shareholders elected all nine directors and approved the 2012 Stock Incentive Plan amendment. PPL declared a $0.2850 quarterly dividend payable July 1. Shares fell 2.52% on May 15 to $34.88.
May 15PPL declares $0.285 quarterly dividend on May 13 alongside annual meeting; shareowners approve all directors and stock incentive planPositive▶
PPL Corporation declared a quarterly common stock dividend of $0.2850 per share on May 13, 2026, payable July 1 to shareowners of record as of June 10. At its 2026 Annual Meeting on May 13, shareowners elected all nine director nominees, approved the Second Amended and Restated 2012 Stock Incentive Plan with 582.5M votes, and ratified Deloitte. Earlier on May 8, PPL reported Q1 2026 ongoing EPS of $0.63 (vs. $0.62 consensus) and reaffirmed 2026 guidance of $1.90-$1.98 plus 6-8% annual EPS growth through 2029 near top end. PPL also said it plans to finalize a deal with Blackstone on its generation business by end of 2026. Stock closed near $35.78 on May 14.
May 14PPL Corp held its 2026 Annual Meeting and declared a $0.2850 quarterly dividend payable July 1, after Q1 ongoing EPS of $0.63 beat consensusPositive▶
PPL held its 2026 Annual Meeting on May 13, electing all nine director nominees and approving the Stock Incentive Plan. The board declared a $0.2850 quarterly dividend payable July 1 to shareholders of record June 10. Q1 2026 ongoing EPS of $0.63 beat consensus by $0.01 with revenue of $2.77B. Management reaffirmed FY26 ongoing EPS guidance of $1.90-$1.98 and 6-8% annual EPS growth through 2029. Strategic focus on transmission/distribution upgrades continues alongside an expected Blackstone generation deal by year end.
May 13No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 12PPL Corporation delivered Q1 2026 ongoing EPS of $0.63 beating estimates, reaffirmed 2026 guidance of $1.90-$1.98, and highlighted a Blackstone data center JV in Pennsylvania.Positive▶
PPL reported Q1 2026 GAAP EPS of $0.60 and ongoing EPS of $0.63 on revenue of $2.77 billion, both beating expectations. The company reaffirmed 2026 ongoing EPS guidance of $1.90-$1.98 and its 6-8% annual EPS growth target through at least 2029. Strong results were driven by higher base rate recovery in Kentucky and increased transmission revenues in Pennsylvania. The utility cited regulatory wins including a proposed Pennsylvania base rate settlement with a two-year stay-out and approval of Rhode Island electric/gas plans exceeding $330 million. PPL highlighted a data-center JV with Blackstone Infrastructure in Pennsylvania, where projects in advanced planning rose 12% to 28.3 GW. Risk: utility execution and regulatory approval timelines on $5.1B 2026 capex plan.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| PPLPPL | $35.39 | +0.16% | -0.2% | 16.7x | 0.60 | $26.6B |
| SOSOUTHERN | $93.26 | +0.78% | -0.6% | 18.9x | 0.34 | $104.9B |
| CEGCONSTELLATION | $274.07 | +2.58% | -2.6% | 20.2x | 1.09 | $97.9B |
| DUKDUKE | $123.92 | +0.15% | +0.0% | 17.3x | 0.38 | $96.6B |
| AEPAMERICAN | $127.69 | -0.45% | -0.9% | 18.6x | 0.52 | $69.5B |
| VSTVISTRA | $163.79 | +3.12% | +13.7% | 14.9x | 1.41 | $55.2B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price below 200d MA — bearish structure.