PPL Corporation (PPL)
NYSEUtilitiesRegulated ElectricSnapshot 2026-09-04
$35.110.00%
Close 2026-09-04 · 1-day change
NYSEUtilitiesRegulated ElectricSnapshot 2026-09-04
Warn: Recent financial performance slipped notably this past month, though still top-half.
PPL plans to earn about $1.98 per share in 2026. It aims for 6% to 8% yearly earnings growth through 2029. The company will increase base revenues by $275 million starting July 2026. It will invest $5.1 billion in 2026 to improve its electric and gas networks.
PPL recently lowered its 2025 earnings forecast. The company has increased debt with new bond issues. Profit growth may slow if investments do not boost returns. Regulatory or cost issues could hurt revenue growth.
The price is about 2% above our fair value near $36. Analysts expect about 7% revenue growth. Our fair value is 11% below the Street median, showing some caution.
Breaks if: Failure to implement $275 million revenue increase by mid-2026
Implement regulatory-approved settlement to increase annual base distribution revenues by approximately $275 million in Pennsylvania.
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
PPL represents a utility investment with a focus on steady earnings growth and infrastructure improvement. The current thesis is cautious, reflecting recent earnings misses and a medium confidence level in management's execution.
The market seems to have priced in a neutral valuation, with PPL appearing cheap compared to its peers. There is a slight expectations gap, indicating that the market may not fully anticipate the potential for earnings growth or challenges ahead.
Fundamentals are expected to remain stable, with management on track to meet its earnings forecast and revenue growth goals. However, the company has faced a series of earnings misses, which could affect investor sentiment.
The thesis hinges on several factors, including the potential for the Federal Reserve to cut interest rates, which could benefit utility stocks. Additionally, performance from sector leaders like NEE, SO, and DUK will be crucial for PPL's momentum.
The most important moves since the prior daily snapshot.
Mixed, the news cuts both ways. PPL's debt-to-capital ratio is 57.46%, lower than the industry average of 61.32%. This indicates a stronger balance sheet position. However, the latest earnings report showed a miss, which raises concerns about future performance.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Stated as a priority in 2 of last 2 quarters. The Pennsylvania Public Utility Commission approved a settlement allowing PPL Electric to increase annual base distribution revenues by approximately $275 million. This regulatory approval supports revenue growth consistent with management's stated priority.
“Settlement agreement with Pennsylvania PUC permits increase in annual base distribution revenue by approximately $275 million.”
“Settlement provides for an increase in annual base distribution revenues of $275 million.”
Breaks if: Investment falls significantly below $5.1 billion in 2026
Invest approximately $5.1 billion in 2026 to strengthen and modernize electric and gas networks, improve resilience, and support growing demand.
Stated as a priority in 3 of last 3 quarters. PPL completed $4.4 billion in infrastructure investments in 2025 and is on pace to complete $5.1 billion in 2026 to strengthen and modernize electric and gas networks. The trajectory shows continued delivery on this priority.
“Investments designed to modernize the grid, improve system resilience and support growing demand.”
“On pace to complete $5.1 billion in 2026 infrastructure investments to strengthen and modernize electric and gas networks.”
“Completed $4.4 billion in infrastructure investments to improve service and strengthen the grid in 2025.”
Breaks if: EPS falls below $1.90 in 2026 or growth under 6% annually
Maintain 2026 ongoing earnings forecast range of $1.90 to $1.98 per share with midpoint of $1.94 and target 6% to 8% annual EPS growth through 2029.
Stated as a priority in 3 of last 3 quarters. PPL reaffirmed its 2026 ongoing earnings forecast range of $1.90 to $1.98 per share with a midpoint of $1.94. The company projects 6% to 8% annual EPS growth through at least 2029. The trajectory is delivering with ongoing earnings per share increasing from $1.81 in 2025 to a forecast midpoint of $1.94 in 2026.
“Reaffirms 2026 ongoing earnings forecast range of $1.90 to $1.98 per share with a midpoint of $1.94.”
“Reaffirms 2026 ongoing earnings forecast range of $1.90 to $1.98 per share with a midpoint of $1.94.”
“Provides 2026 earnings forecast range of $1.90 to $1.98 per share; midpoint of $1.94 per share.”
In the next 1 to 3 years, PPL's performance will depend on management's ability to execute its priorities and broader market conditions. Not investment advice.