PPL Co. (NYSE:PPL) Receives $35.22 Consensus Price Target from Analysts

PPL Co. (NYSE:PPL) has received an average recommendation of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $35.40.

A number of equities research analysts have weighed in on PPL shares. Morgan Stanley lifted their price target on shares of PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Wells Fargo & Company boosted their target price on PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Barclays raised their price target on PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Bank of America boosted their price objective on PPL from $33.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. initiated coverage on PPL in a report on Friday. They set an “overweight” rating and a $37.00 target price for the company.

PPL Trading Down 1.3 %

PPL opened at $32.43 on Tuesday. The stock has a market capitalization of $23.92 billion, a PE ratio of 31.49, a P/E/G ratio of 2.79 and a beta of 0.82. PPL has a one year low of $24.10 and a one year high of $33.38. 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 business’s 50 day moving average price is $32.26 and its 200 day moving average price is $29.82.

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

PPL Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were issued a $0.2575 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.03 annualized dividend and a yield of 3.18%. PPL’s dividend payout ratio (DPR) is 100.00%.

Institutional Investors Weigh In On PPL

A number of large investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System increased its holdings in PPL by 5.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 884,838 shares of the utilities provider’s stock valued at $24,590,000 after buying an additional 46,552 shares during the last quarter. Sei Investments Co. increased its holdings in shares of PPL by 7.5% in the 1st quarter. Sei Investments Co. now owns 866,256 shares of the utilities provider’s stock valued at $23,848,000 after acquiring an additional 60,589 shares during the last quarter. Wedge Capital Management L L P NC raised its position in shares of PPL by 8.7% during the 2nd quarter. Wedge Capital Management L L P NC now owns 496,165 shares of the utilities provider’s stock worth $13,719,000 after acquiring an additional 39,513 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in PPL by 52.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,336 shares of the utilities provider’s stock worth $4,197,000 after purchasing an additional 52,870 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in PPL by 50.3% in the first quarter. Clearbridge Investments LLC now owns 4,701,515 shares of the utilities provider’s stock valued at $129,433,000 after purchasing an additional 1,572,771 shares in the last quarter. 76.99% of the stock is owned by hedge funds and other institutional investors.

About PPL

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.