Bank of America Corp. lowered shares of PPL Corp. (NYSE:PPL) from a buy rating to a neutral rating in a report published on Tuesday. The firm currently has $32.00 target price on the stock.

A number of other equities analysts also recently commented on PPL. Jefferies Group decreased their price objective on shares of PPL Corp. from $38.00 to $37.00 and set a hold rating for the company in a report on Wednesday, August 10th. Guggenheim downgraded shares of PPL Corp. from a buy rating to a neutral rating in a report on Tuesday, August 9th. Credit Suisse Group AG reaffirmed a hold rating and issued a $44.00 price objective on shares of PPL Corp. in a report on Friday, August 5th. Wolfe Research raised shares of PPL Corp. from a market perform rating to an outperform rating in a report on Wednesday, September 14th. Finally, Argus decreased their price objective on shares of PPL Corp. from $45.00 to $41.00 and set a buy rating for the company in a report on Friday, September 9th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. PPL Corp. has an average rating of Hold and a consensus target price of $37.77.

PPL Corp. (NYSE:PPL) traded down 1.336% during mid-day trading on Tuesday, reaching $32.875. 865,804 shares of the company traded hands. The stock has a market capitalization of $22.34 billion, a PE ratio of 12.212 and a beta of 0.41. The firm’s 50-day moving average is $33.32 and its 200 day moving average is $35.97. PPL Corp. has a 52-week low of $32.08 and a 52-week high of $39.92.

PPL Corp. (NYSE:PPL) last released its quarterly earnings results on Tuesday, November 1st. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. PPL Corp. had a net margin of 24.59% and a return on equity of 15.66%. The business earned $1.89 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter last year, the company earned $0.51 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts expect that PPL Corp. will post $2.36 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.56%. PPL Corp.’s dividend payout ratio (DPR) is presently 56.30%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. QCI Asset Management Inc. NY raised its position in shares of PPL Corp. by 1.8% in the second quarter. QCI Asset Management Inc. NY now owns 3,100 shares of the company’s stock worth $117,000 after buying an additional 55 shares during the last quarter. Smithfield Trust Co. raised its position in shares of PPL Corp. by 25.2% in the third quarter. Smithfield Trust Co. now owns 3,480 shares of the company’s stock worth $120,000 after buying an additional 700 shares during the last quarter. Kistler Tiffany Companies LLC raised its position in shares of PPL Corp. by 0.3% in the third quarter. Kistler Tiffany Companies LLC now owns 4,054 shares of the company’s stock worth $140,000 after buying an additional 14 shares during the last quarter. Citizens Financial Group Inc RI raised its position in shares of PPL Corp. by 4.2% in the second quarter. Citizens Financial Group Inc RI now owns 3,823 shares of the company’s stock worth $145,000 after buying an additional 153 shares during the last quarter. Finally, People s United Financial Inc. raised its position in shares of PPL Corp. by 100.0% in the third quarter. People s United Financial Inc. now owns 4,455 shares of the company’s stock worth $154,000 after buying an additional 2,227 shares during the last quarter. Institutional investors own 68.25% of the company’s stock.

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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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