Shares of PPL Corp (NYSE:PPL) have earned an average recommendation of “Hold” from the fifteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $34.00.
Several research firms recently weighed in on PPL. Zacks Investment Research downgraded PPL from a “hold” rating to a “sell” rating in a research report on Tuesday, May 21st. Mizuho began coverage on PPL in a research report on Monday, June 3rd. They set a “neutral” rating and a $30.00 target price on the stock. Royal Bank of Canada downgraded PPL from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $32.00 to $33.00 in a research report on Friday, March 8th. They noted that the move was a valuation call. UBS Group decreased their price target on PPL from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, May 17th. Finally, Raymond James reaffirmed an “average” rating on shares of PPL in a report on Monday, May 6th.
A number of hedge funds and other institutional investors have recently modified their holdings of PPL. Amundi Pioneer Asset Management Inc. boosted its position in shares of PPL by 35.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 832,554 shares of the utilities provider’s stock valued at $26,425,000 after buying an additional 216,826 shares during the period. Redwood Investment Management LLC purchased a new position in shares of PPL during the first quarter valued at approximately $271,000. EP Wealth Advisors LLC boosted its position in shares of PPL by 3.9% during the first quarter. EP Wealth Advisors LLC now owns 22,168 shares of the utilities provider’s stock valued at $704,000 after buying an additional 842 shares during the period. Advisory Services Network LLC boosted its position in shares of PPL by 3.6% during the first quarter. Advisory Services Network LLC now owns 37,409 shares of the utilities provider’s stock valued at $1,187,000 after buying an additional 1,297 shares during the period. Finally, Allstate Corp boosted its position in shares of PPL by 11.5% during the first quarter. Allstate Corp now owns 13,411 shares of the utilities provider’s stock valued at $426,000 after buying an additional 1,381 shares during the period. 72.89% of the stock is currently owned by institutional investors.
NYSE PPL traded down $0.25 on Friday, hitting $31.17. 124,000 shares of the company traded hands, compared to its average volume of 4,445,680. The firm has a market cap of $22.68 billion, a P/E ratio of 12.98 and a beta of 0.52. The company has a quick ratio of 0.53, a current ratio of 0.60 and a debt-to-equity ratio of 1.73. The business has a 50 day simple moving average of $30.74. PPL has a 52-week low of $27.31 and a 52-week high of $32.88.
PPL (NYSE:PPL) last released its earnings results on Thursday, May 2nd. The utilities provider reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.03). The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.19 billion. PPL had a net margin of 23.79% and a return on equity of 14.52%. PPL’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 earnings per share. As a group, analysts anticipate that PPL will post 2.42 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be paid a dividend of $0.4125 per share. The ex-dividend date is Friday, June 7th. This represents a $1.65 annualized dividend and a yield of 5.29%. PPL’s payout ratio is currently 68.75%.
PPL Company Profile
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 414,000 electric and 328,000 natural gas customers in Louisville and adjacent areas in Kentucky; 527,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.
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