The spinoff power company, called Talen Energy, also includes generation assets owned Riverstone Holdings.
PPL said the spinoff completed its transition to focus solely on "high-performing regulated utilities in both the United States and the United Kingdom." The transition included the acquisition of Louisville Gas and Electric and Kentucky Utilities and the expansion of its U.K. operations.
"Over the past five years, we've transformed PPL into one of the top 10 utility companies in the U.S., and reshaped it in ways that have preserved and grown value for our shareowners," Chairman, President, and CEO of PPL William H. Spence said.
Following the spinoff PPL reaffirmed its 2015 forecast of $2.05 to $2.25 a share for regulated utility earnings. Analysts expect the company to report earnings of $2.26 a share for the year.
TheStreet Ratings team rates PPL CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate PPL CORP (PPL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income, notable return on equity, expanding profit margins and impressive record of earnings per share growth. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."