PPL Corp. (PPL) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of PPL Corp. (NYSE:PPL) from a hold rating to a buy rating in a research note issued to investors on Friday. The brokerage currently has $37.00 target price on the stock.
According to Zacks, “PPL Corporation’s diverse asset portfolio and business model allow it to perform in and adapt to different market conditions. PPL Corp.’s capital investment plan primarily focuses on infrastructure construction projects for generation, transmission and distribution. The company projects total capital expenditure of approximately $15.4 billion in the 2016–2020 timeframe.The affirmation of the 2016 earnings guidance confirms management’s positive stance. In light of the fluctuating currency, PPL Corp. has reestablished its hedge levels to shield itself from any near-term decline in the GBP. Nevertheless, volatile commodity prices and regulatory risks pose challenges to PPL Corporation’s growth. PPL Corp.’s operations are also subject to service disruptions in form of breakdown of equipment, natural calamities and sudden outages.”
A number of other equities analysts have also recently weighed in on PPL. Jefferies Group cut their price target on PPL Corp. from $38.00 to $37.00 and set a hold rating for the company in a report on Wednesday, August 10th. Wolfe Research raised PPL Corp. from a market perform rating to an outperform rating in a report on Wednesday, September 14th. Guggenheim cut PPL Corp. from a buy rating to a neutral rating in a report on Tuesday, August 9th. Credit Suisse Group AG reissued a hold rating and issued a $44.00 price target on shares of PPL Corp. in a report on Friday, August 5th. Finally, Bank of America Corp. cut PPL Corp. from a buy rating to a neutral rating and set a $32.00 price target for the company. in a report on Tuesday, November 22nd. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. PPL Corp. presently has an average rating of Hold and an average price target of $37.71.
PPL Corp. (NYSE:PPL) opened at 33.32 on Friday. The company’s 50-day moving average price is $33.36 and its 200 day moving average price is $35.91. The firm has a market cap of $22.65 billion, a price-to-earnings ratio of 12.38 and a beta of 0.41. PPL Corp. has a 1-year low of $32.08 and a 1-year high of $39.92.
PPL Corp. (NYSE:PPL) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. The firm earned $1.89 billion during the quarter, compared to analysts’ expectations of $2.04 billion. PPL Corp. had a return on equity of 15.66% and a net margin of 24.59%. PPL Corp.’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 earnings per share. On average, equities analysts expect that PPL Corp. will post $2.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.56%. The ex-dividend date is Wednesday, December 7th. PPL Corp.’s dividend payout ratio (DPR) is 56.30%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Panagora Asset Management Inc. boosted its position in PPL Corp. by 11.2% in the first quarter. Panagora Asset Management Inc. now owns 147,707 shares of the company’s stock valued at $5,623,000 after buying an additional 14,852 shares during the period. Babson Capital Management LLC boosted its position in PPL Corp. by 37.3% in the first quarter. Babson Capital Management LLC now owns 63,302 shares of the company’s stock valued at $2,410,000 after buying an additional 17,200 shares during the period. Euclid Advisors LLC boosted its position in PPL Corp. by 488.6% in the first quarter. Euclid Advisors LLC now owns 134,781 shares of the company’s stock valued at $5,131,000 after buying an additional 111,881 shares during the period. First Republic Investment Management Inc. boosted its position in PPL Corp. by 12.9% in the first quarter. First Republic Investment Management Inc. now owns 19,617 shares of the company’s stock valued at $747,000 after buying an additional 2,249 shares during the period. Finally, Cullinan Associates Inc. acquired a new position in PPL Corp. during the first quarter valued at approximately $2,937,000. Institutional investors and hedge funds own 69.01% of the company’s stock.
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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