PPL Corp PPL:NYSE

Last Price$30.01NYSE Previous Close - Last Trade as of 6:30PM ET 6/04/20

Today's Change+0.09(0.30%)
Bid (Size)$30.03 (7)
Ask (Size)$30.17 (2)
Day Low / High$29.52 - 30.18
Volume5.5 M

Research Alert: CFRA Maintains Buy Recommendation On Shares Of Pembina Pipeline Corporation

1:45PM ET 3/02/2020 MT Newswires
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We maintain our 12-month target price of C$55, reflecting an 11.4x multiple of price to our 2020 operating cash flow estimate, a premium to peers. We narrow our 2020 EPS estimate to C$2.46 from C$2.56 and start our 2021 estimate at C$2.82. PPL reports Q4 EPS of C$0.84 vs. C$0.57, beating the S&P Capital IQ consensus estimate by C$0.28 driven by 5% higher volumes in the Pipelines segment compared to Q4 2018, new assets placed into service, the contribution from the Kinder Acquisition assets, and higher tolls on the Alberta Ethane Gathering System. We note FERC delayed a decision related to the Jordan Cove LNG project, though we expect a decision by the next FERC commission meeting on 3/20. We believe the recently acquired Cochin pipeline system will provide PPL near-term optionality by connecting PPL's existing assets with multiple markets, while $5.8 billion of secured organic projects (i.e. the propane dehydrogenation and polypropylene upgrading facility) will help drive future earnings growth.