PPL Co. (NYSE:PPL – Get Free Report) shares saw unusually-high trading volume on Monday after Bank of America raised their price target on the stock from $34.00 to $35.00. Bank of America currently has a buy rating on the stock. Approximately 2,514,976 shares changed hands during trading, a decline of 48% from the previous session’s volume of 4,794,603 shares.The stock last traded at $31.92 and had previously closed at $31.56.
Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. assumed coverage on PPL in a research report on Friday, October 25th. They issued an “overweight” rating and a $37.00 target price for the company. Wells Fargo & Company increased their price objective on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Barclays raised their target price on PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Jefferies Financial Group initiated coverage on shares of PPL in a research note on Thursday, September 19th. They issued a “buy” rating and a $38.00 price objective for the company. Finally, Morgan Stanley increased their target price on PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, PPL presently has an average rating of “Moderate Buy” and a consensus target price of $35.50.
View Our Latest Analysis on PPL
Hedge Funds Weigh In On PPL
PPL Trading Up 1.7 %
The company’s fifty day moving average price is $32.35 and its two-hundred day moving average price is $30.14. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.17. The company has a market cap of $24.04 billion, a price-to-earnings ratio of 29.10, a price-to-earnings-growth ratio of 2.70 and a beta of 0.81.
PPL (NYSE:PPL – Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.10 billion. PPL had a return on equity of 9.20% and a net margin of 9.95%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS. Research analysts expect that PPL Co. will post 1.72 earnings per share for the current year.
PPL Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were given a dividend of $0.2575 per share. The ex-dividend date was Tuesday, September 10th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.16%. PPL’s payout ratio is 91.97%.
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.
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