PPL (PPL) Lowered to In-Line at Evercore ISI
Evercore ISI downgraded shares of PPL (NYSE:PPL) from an outperform rating to an in-line rating in a research note published on Thursday, MarketBeat Ratings reports.
A number of other analysts also recently commented on PPL. ValuEngine upgraded shares of PPL from a sell rating to a hold rating in a research report on Tuesday, November 13th. Zacks Investment Research upgraded shares of PPL from a hold rating to a buy rating and set a $34.00 target price for the company in a research report on Tuesday, December 11th. Desjardins restated an average rating and set a $52.00 target price on shares of PPL in a research report on Monday, January 7th. Finally, Bank of America cut shares of PPL from a neutral rating to an underperform rating and cut their target price for the stock from $29.00 to $28.00 in a research report on Monday, January 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $34.44.
PPL stock opened at $31.29 on Thursday. The stock has a market cap of $22.54 billion, a P/E ratio of 13.91, a P/E/G ratio of 2.56 and a beta of 0.55. PPL has a 52 week low of $25.30 and a 52 week high of $32.46. The company has a current ratio of 0.58, a quick ratio of 0.51 and a debt-to-equity ratio of 1.69.
Hedge funds have recently modified their holdings of the stock. Strategic Investment Advisors MI purchased a new stake in PPL during the fourth quarter worth approximately $234,000. Ropes Wealth Advisors LLC boosted its stake in shares of PPL by 11.2% in the fourth quarter. Ropes Wealth Advisors LLC now owns 11,293 shares of the utilities provider’s stock valued at $320,000 after purchasing an additional 1,139 shares during the period. Highstreet Asset Management Inc. boosted its stake in shares of PPL by 86.5% in the fourth quarter. Highstreet Asset Management Inc. now owns 74,204 shares of the utilities provider’s stock valued at $2,102,000 after purchasing an additional 34,417 shares during the period. Ffcm LLC boosted its stake in shares of PPL by 1.5% in the fourth quarter. Ffcm LLC now owns 28,275 shares of the utilities provider’s stock valued at $801,000 after purchasing an additional 412 shares during the period. Finally, GAM Holding AG boosted its stake in shares of PPL by 8.3% in the fourth quarter. GAM Holding AG now owns 117,032 shares of the utilities provider’s stock valued at $3,316,000 after purchasing an additional 8,955 shares during the period. 76.08% of the stock is owned by hedge funds and other institutional investors.
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 in three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves 411,000 electric and 326,000 natural gas customers in Louisville and adjacent areas in Kentucky; 525,000 customers in central, southeastern, and western Kentucky; and approximately 28,000 customers in 5 counties in southwestern Virginia, and 3 customers in Tennessee.
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