Morningstar - PPL Corporation (PPL) U.K. Headwinds Offset U.S. Growth

Report

Morningstar

Andrew Bischof

EUR 100.00 For Business Accounts Only

U.K. Headwinds Offset U.S. Growth

We are reaffirming our $31 fair value estimate and narrow economic moat rating after PPL reported full-year operating earnings per share of $2.40 compared with $2.25 in the year-ago period. Management's 2019 EPS guidance of $2.30-$2.50 is in line with our $2.43 estimate. PPL's targets for 5%-6% earnings growth through 2020 and 4% dividend growth over the same period were reaffirmed and are consistent with our forecasts.
The biggest headwind for PPL remains the United Kingdom. Recently, U.K. reg...

07/03/2019 13 EN

Underlying

PPL Corporation

PPL is a utility holding company. Through its regulated utility subsidiaries, the company delivers electricity to customers in United Kingdom, Pennsylvania, Kentucky, and Virginia; delivers natural gas to customers in Kentucky; and generates electricity from power plants in Kentucky. The company's segments are: United Kingdom Regulated, which has regulated electricity distribution operations in United Kingdom; Kentucky Regulated, which is engaged in the regulated generation, transmission, distribution and sale of electricity in Kentucky and Virginia, and the distribution and sale of natural gas in Kentucky; and Pennsylvania Regulated, which delivers electricity in eastern and central Pennsylvania.

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US69351T1060 New York Stock Exchange United States

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Andrew Bischof

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U.K. Headwinds Offset U.S. Growth

PPL Corp: 4 directors

Vermilion Compass: Weekly Equity Strategy

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Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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