PPL (NYSE:PPL) Reaches New 12-Month High – Still a Buy?

PPL Co. (NYSE:PPL)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $35.04 and last traded at $34.94, with a volume of 141380 shares changing hands. The stock had previously closed at $34.84.

Analysts Set New Price Targets

A number of analysts have issued reports on PPL shares. Bank of America raised their price target on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Morgan Stanley raised their target price on shares of PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Wells Fargo & Company upped their price target on shares of PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. initiated coverage on shares of PPL in a report on Friday, October 25th. They issued an “overweight” rating and a $37.00 price target on the stock. Finally, Jefferies Financial Group initiated coverage on PPL in a report 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 eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.50.

PPL Price Performance

The company has a debt-to-equity ratio of 1.17, a current ratio of 1.29 and a quick ratio of 1.07. The company has a market cap of $25.83 billion, a PE ratio of 31.25, a P/E/G ratio of 2.97 and a beta of 0.81. The company has a 50-day moving average price of $32.95 and a two-hundred day moving average price of $30.82.

PPL (NYSE:PPL) last released its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.10 billion. PPL had a return on equity of 9.20% and a net margin of 9.95%. PPL’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 EPS. Sell-side analysts expect that PPL Co. will post 1.72 earnings per share for the current fiscal year.

PPL Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be issued a $0.2575 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $1.03 dividend on an annualized basis and a yield of 2.94%. PPL’s dividend payout ratio is currently 91.96%.

Insider Activity

In other news, insider John R. Crockett III sold 9,161 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $34.35, for a total transaction of $314,680.35. Following the completion of the transaction, the insider now directly owns 12,434 shares in the company, valued at approximately $427,107.90. This represents a 42.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.22% of the company’s stock.

Institutional Trading of PPL

Several institutional investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC grew its holdings in PPL by 195.5% during the 3rd quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 516 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in PPL in the second quarter worth about $29,000. Redwood Wealth Management Group LLC bought a new stake in PPL in the second quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new stake in PPL during the third quarter valued at approximately $34,000. Finally, Lynx Investment Advisory acquired a new stake in PPL during the second quarter valued at approximately $38,000. 76.99% of the stock is owned by institutional investors and hedge funds.

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.