Barclays Issues Pessimistic Forecast for PPL (NYSE:PPL) Stock Price

PPL (NYSE:PPL) had its price objective dropped by Barclays from $34.00 to $33.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price objective would suggest a potential upside of 0.77% from the company’s current price.

A number of other brokerages have also issued reports on PPL. Bank of America increased their target price on shares of PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Jefferies Financial Group decreased their target price on shares of PPL from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, December 17th. Citigroup raised their price objective on shares of PPL from $31.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. BMO Capital Markets initiated coverage on shares of PPL in a research report on Wednesday, December 11th. They set an “outperform” rating and a $36.00 price objective for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of PPL in a research report on Friday, October 25th. They set an “overweight” rating and a $37.00 price objective for the company. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

PPL Stock Up 0.3 %

PPL stock opened at $32.75 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.17. PPL has a fifty-two week low of $25.35 and a fifty-two week high of $35.15. The firm’s 50-day simple moving average is $33.06 and its 200 day simple moving average is $31.99. The stock has a market cap of $24.17 billion, a PE ratio of 29.24, a price-to-earnings-growth ratio of 2.71 and a beta of 0.83.

PPL (NYSE:PPL) last released its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.10 billion. PPL had a net margin of 9.95% and a return on equity of 9.20%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 EPS. As a group, sell-side analysts predict that PPL will post 1.72 EPS for the current year.

Insider Transactions at PPL

In related news, insider John R. Crockett III sold 9,161 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $34.35, for a total transaction of $314,680.35. Following the transaction, the insider now owns 12,434 shares of the company’s stock, valued at approximately $427,107.90. This trade represents a 42.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tadd J. Henninger sold 6,639 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $32.16, for a total transaction of $213,510.24. Following the transaction, the senior vice president now directly owns 11,210 shares in the company, valued at approximately $360,513.60. The trade was a 37.20 % decrease in their position. The disclosure for this sale can be found here. 0.22% of the stock is owned by insiders.

Hedge Funds Weigh In On PPL

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Great Valley Advisor Group Inc. raised its position in PPL by 1.7% during the third quarter. Great Valley Advisor Group Inc. now owns 17,696 shares of the utilities provider’s stock valued at $585,000 after acquiring an additional 301 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. grew its stake in shares of PPL by 0.4% in the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 78,296 shares of the utilities provider’s stock worth $2,480,000 after acquiring an additional 313 shares during the last quarter. Cobblestone Capital Advisors LLC NY grew its stake in shares of PPL by 2.4% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 14,848 shares of the utilities provider’s stock worth $491,000 after acquiring an additional 348 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in shares of PPL by 3.1% in the third quarter. Valeo Financial Advisors LLC now owns 12,360 shares of the utilities provider’s stock worth $409,000 after acquiring an additional 370 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of PPL by 1.4% in the third quarter. Exchange Traded Concepts LLC now owns 26,264 shares of the utilities provider’s stock worth $869,000 after acquiring an additional 370 shares during the last quarter. Institutional investors own 76.99% of the company’s stock.

PPL Company Profile

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.