Brokerages Set PPL Co. (NYSE:PPL) PT at $35.50

Shares of PPL Co. (NYSE:PPL) have received an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $35.50.

PPL has been the subject of several research analyst reports. JPMorgan Chase & Co. started coverage on PPL in a research note on Friday, October 25th. They issued an “overweight” rating and a $37.00 price objective for the company. Jefferies Financial Group initiated coverage on shares of PPL in a research note on Thursday, September 19th. They set a “buy” rating and a $38.00 price objective for the company. Bank of America increased their price objective on shares of PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company raised their target price on shares of PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Morgan Stanley upped their price target on shares of PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, August 23rd.

PPL Stock Performance

Shares of PPL stock opened at $34.00 on Friday. The company has a 50 day moving average price of $32.56 and a 200 day moving average price of $30.51. The firm has a market capitalization of $25.09 billion, a P/E ratio of 30.36, a PEG ratio of 2.91 and a beta of 0.81. 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 52 week low of $25.35 and a 52 week high of $34.04.

PPL (NYSE:PPL) last posted its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $2.07 billion during 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 business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company posted $0.43 earnings per share. Sell-side analysts expect that PPL will post 1.72 EPS for the current year.

PPL Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were issued a $0.2575 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.03 dividend on an annualized basis and a yield of 3.03%. PPL’s payout ratio is 91.96%.

Institutional Trading of PPL

Several institutional investors have recently bought and sold shares of the business. Fortitude Family Office LLC lifted its position in shares of PPL by 195.5% during the 3rd quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock valued at $26,000 after buying an additional 516 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of PPL in the third quarter valued at about $34,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of PPL during the second quarter worth about $29,000. Redwood Wealth Management Group LLC acquired a new position in shares of PPL during the 2nd quarter worth about $29,000. Finally, Lynx Investment Advisory acquired a new position in shares of PPL during the 2nd quarter worth about $38,000. 76.99% of the stock is owned by institutional investors and hedge funds.

About PPL

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.