PPL Corp. (NYSE:PPL) Receives Consensus Rating of “Hold” from Brokerages
Shares of PPL Corp. (NYSE:PPL) have been given a consensus rating of “Hold” by the fifteen analysts that are covering the stock. Ten equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $37.95.
A number of research analysts have issued reports on the company. Zacks Investment Research upgraded PPL Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, July 14th. Jefferies Group reduced their price objective on PPL Corp. from $38.00 to $37.00 and set a “hold” rating for the company in a research note on Wednesday, August 10th. Barclays PLC reduced their price objective on PPL Corp. from $43.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. Credit Suisse Group AG restated a “hold” rating and issued a $44.00 price objective on shares of PPL Corp. in a research note on Friday, August 5th. Finally, Guggenheim downgraded PPL Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 9th.
In other PPL Corp. news, VP Joseph P. Bergstein, Jr. sold 1,581 shares of the firm’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $37.06, for a total value of $58,591.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robert A. Symons sold 13,901 shares of the firm’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $37.40, for a total value of $519,897.40. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in PPL Corp. during the fourth quarter valued at $13,652,000. CIBC World Markets Inc. boosted its stake in PPL Corp. by 22.8% in the first quarter. CIBC World Markets Inc. now owns 71,226 shares of the company’s stock valued at $2,712,000 after buying an additional 13,236 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in PPL Corp. by 183.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 220,783 shares of the company’s stock valued at $8,405,000 after buying an additional 142,955 shares during the last quarter. Ngam Advisors L.P. boosted its stake in PPL Corp. by 0.5% in the first quarter. Ngam Advisors L.P. now owns 72,729 shares of the company’s stock valued at $2,769,000 after buying an additional 368 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in PPL Corp. by 4.0% in the first quarter. TIAA CREF Investment Management LLC now owns 3,308,182 shares of the company’s stock valued at $125,942,000 after buying an additional 126,457 shares during the last quarter. 69.52% of the stock is currently owned by hedge funds and other institutional investors.
PPL Corp. (NYSE:PPL) opened at 32.90 on Friday. The company has a 50 day moving average price of $34.87 and a 200-day moving average price of $37.00. PPL Corp. has a 12 month low of $32.18 and a 12 month high of $39.92. The company has a market cap of $22.31 billion, a PE ratio of 12.76 and a beta of 0.38.
PPL Corp. (NYSE:PPL) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. The firm earned $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. PPL Corp. had a return on equity of 14.77% and a net margin of 23.56%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 EPS. Equities analysts predict that PPL Corp. will post $2.35 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.52 dividend on an annualized basis and a yield of 4.62%. PPL Corp.’s dividend payout ratio (DPR) is 58.69%.
About PPL Corp.
PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. It operates through three segments: U.K.
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