PPL Corp. (PPL) Lowered to Hold at Zacks Investment Research
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. 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. The price of the company's shares dropped compared with an increase in the broader industry share price in the last twelve months. 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 research analysts have also commented on the stock. Argus reduced their price objective on shares of PPL Corp. from $45.00 to $41.00 and set a buy rating on the stock in a research note on Friday, September 9th. Wolfe Research upgraded shares of PPL Corp. from a market perform rating to an outperform rating in a research report on Wednesday, September 14th. Jefferies Group reiterated a hold rating and set a $37.00 target price on shares of PPL Corp. in a research report on Tuesday, October 25th. Bank of America Corp. downgraded shares of PPL Corp. from a buy rating to a neutral rating and set a $32.00 target price on the stock. in a research report on Tuesday, November 22nd. Finally, Guggenheim downgraded shares of PPL Corp. from a buy rating to a neutral rating in a research report on Tuesday, August 9th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $37.71.
Shares of PPL Corp. (NYSE:PPL) opened at 34.15 on Monday. The firm has a 50-day moving average of $33.41 and a 200-day moving average of $35.84. PPL Corp. has a 52 week low of $32.08 and a 52 week high of $39.92. The firm has a market cap of $23.21 billion, a PE ratio of 12.69 and a beta of 0.41.
PPL Corp. (NYSE:PPL) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.05. PPL Corp. had a net margin of 24.59% and a return on equity of 15.66%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period in the prior year, the firm posted $0.51 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts expect that PPL Corp. will post $2.36 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 9th will be given a dividend of $0.38 per share. The ex-dividend date is Wednesday, December 7th. This represents a $1.52 dividend on an annualized basis and a yield of 4.44%. PPL Corp.’s dividend payout ratio is presently 56.30%.
Institutional investors have recently modified their holdings of the company. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in shares of PPL Corp. by 83.3% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 408,895 shares of the company’s stock worth $15,436,000 after buying an additional 185,835 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of PPL Corp. by 0.6% in the second quarter. Retirement Systems of Alabama now owns 727,815 shares of the company’s stock worth $27,475,000 after buying an additional 4,315 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of PPL Corp. by 43.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 508,521 shares of the company’s stock worth $19,197,000 after buying an additional 155,083 shares in the last quarter. Foundry Partners LLC raised its position in shares of PPL Corp. by 9.0% in the third quarter. Foundry Partners LLC now owns 363,680 shares of the company’s stock worth $12,572,000 after buying an additional 30,075 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its position in shares of PPL Corp. by 1.5% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 585,646 shares of the company’s stock worth $22,109,000 after buying an additional 8,772 shares in the last quarter. Hedge funds and other institutional investors 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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