Seeking Alpha: PPL Shares With Relative Strength Despite Bad News In 2022
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- PPL has bounced back nicely after a dividend cut in February.
- Utilities continue to outperform, and PPL has been a sector leader.
- The stock has been range-bound, but a breakout could be in the works.
Shares of PPL Corporation (NYSE:PPL), a $21 billion market cap company in the Utilities sector, are about flat since the start of April. That's saying something in this market. As the S&P 500 (SPY) has cratered more than 10% in the last several weeks, PPL has been a source of relative strength. The safety trade has been in full effect as investors flee risky sectors and flock to places like Utilities (XLU), Staples (XLP), and Health Care (XLV). PPL sports a yield of 2.8% according to The Wall Street Journal.