PPL (NYSE:PPL) Price Target Raised to $34.00 at Barclays

PPL (NYSE:PPL) had its price target increased by stock analysts at Barclays from $30.00 to $34.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price target indicates a potential upside of 4.04% from the stock’s previous close.

Several other brokerages also recently weighed in on PPL. Morgan Stanley boosted their price objective on PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Bank of America upped their price target on shares of PPL from $33.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Wells Fargo & Company raised their price target on shares of PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Jefferies Financial Group initiated coverage on shares of PPL in a research note on Thursday, September 19th. They set a “buy” rating and a $38.00 price objective for the company. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, PPL has an average rating of “Moderate Buy” and a consensus target price of $35.22.

PPL Price Performance

Shares of NYSE:PPL opened at $32.68 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 1.12. The stock has a market cap of $24.11 billion, a PE ratio of 28.67, a PEG ratio of 2.79 and a beta of 0.82. The company’s fifty day moving average is $32.15 and its 200 day moving average is $29.74. PPL has a 52 week low of $23.36 and a 52 week high of $33.38.

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

Hedge Funds Weigh In On PPL

Large investors have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. bought a new position in PPL during the 2nd quarter valued at approximately $29,000. Redwood Wealth Management Group LLC bought a new position in shares of PPL during the second quarter valued at $29,000. Lynx Investment Advisory purchased a new position in shares of PPL in the 2nd quarter worth about $38,000. Family Firm Inc. purchased a new position in shares of PPL in the 2nd quarter worth about $38,000. Finally, Central Pacific Bank Trust Division bought a new position in PPL in the 1st quarter worth about $42,000. 76.99% of the stock is currently owned by hedge funds and other institutional investors.

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.