PPL (NYSE:PPL) Earns Buy Rating from Analysts at Jefferies Financial Group

Analysts at Jefferies Financial Group started coverage on shares of PPL (NYSE:PPL) in a research report issued on Thursday, Benzinga reports. The brokerage set a “buy” rating and a $38.00 price target on the utilities provider’s stock. Jefferies Financial Group’s price target points to a potential upside of 19.55% from the company’s previous close.

A number of other equities analysts have also commented on PPL. Morgan Stanley lifted their price objective on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Bank of America lifted their price target on PPL from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Wells Fargo & Company increased their price objective on PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $33.75.

PPL Stock Down 1.1 %

Shares of PPL traded down $0.36 during trading hours on Thursday, hitting $31.79. 5,627,910 shares of the company were exchanged, compared to its average volume of 4,888,341. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.91 and a current ratio of 1.11. The company has a market cap of $23.45 billion, a PE ratio of 30.86, a PEG ratio of 2.73 and a beta of 0.82. The firm’s 50 day moving average is $30.74 and its 200-day moving average is $28.82. PPL has a 52 week low of $22.20 and a 52 week high of $32.82.

PPL (NYSE:PPL) last released its quarterly earnings results on Friday, August 2nd. The utilities provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.92 billion. PPL had a net margin of 10.17% and a return on equity of 9.26%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 earnings per share. On average, equities research analysts forecast that PPL will post 1.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of PPL in the 4th quarter worth approximately $115,605,000. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of PPL by 6.0% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 10,289 shares of the utilities provider’s stock valued at $279,000 after acquiring an additional 586 shares during the period. Coldstream Capital Management Inc. acquired a new stake in shares of PPL in the 4th quarter valued at $216,000. Wells Fargo & Company MN grew its holdings in shares of PPL by 3.8% in the 4th quarter. Wells Fargo & Company MN now owns 2,333,666 shares of the utilities provider’s stock worth $63,242,000 after purchasing an additional 85,983 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of PPL by 46.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,507 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 480 shares in the last quarter. Institutional investors and hedge funds own 76.99% of the company’s stock.

PPL Company Profile

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.