Shares of PPL Corp. (NYSE:PPL) have been assigned a consensus rating of “Hold” from the fifteen research firms that are presently covering the stock. Ten equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $37.95.
Several research analysts have weighed in on the company. Zacks Investment Research upgraded PPL Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, July 14th. Jefferies Group lowered their price objective on PPL Corp. from $38.00 to $37.00 and set a “hold” rating on the stock in a research report on Wednesday, August 10th. Barclays PLC lowered their price objective on PPL Corp. from $43.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. Credit Suisse Group AG reiterated a “hold” rating and set a $44.00 price objective on shares of PPL Corp. in a research report on Friday, August 5th. Finally, Guggenheim cut PPL Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 9th.
Shares of PPL Corp. (NYSE:PPL) traded down 1.020% on Friday, reaching $34.465. 2,002,577 shares of the company traded hands. PPL Corp. has a one year low of $32.18 and a one year high of $39.92. The firm’s 50 day moving average is $35.06 and its 200 day moving average is $37.06. The company has a market capitalization of $23.37 billion, a P/E ratio of 13.369 and a beta of 0.35.
PPL Corp. (NYSE:PPL) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. PPL Corp. had a return on equity of 14.77% and a net margin of 23.56%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 EPS. Analysts expect that PPL Corp. will post $2.35 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend is Wednesday, September 7th. PPL Corp.’s payout ratio is 58.69%.
In other news, insider Robert A. Symons sold 13,901 shares of PPL Corp. stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $37.40, for a total transaction of $519,897.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Joseph P. Bergstein, Jr. sold 1,581 shares of PPL Corp. stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $37.06, for a total value of $58,591.86. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. QCI Asset Management Inc. NY raised its position in PPL Corp. by 1.8% in the second quarter. QCI Asset Management Inc. NY now owns 3,100 shares of the company’s stock worth $117,000 after buying an additional 55 shares in the last quarter. Citizens Financial Group Inc RI raised its position in PPL Corp. by 4.2% in the second quarter. Citizens Financial Group Inc RI now owns 3,823 shares of the company’s stock worth $145,000 after buying an additional 153 shares in the last quarter. Kistler Tiffany Companies LLC raised its position in PPL Corp. by 97.2% in the second quarter. Kistler Tiffany Companies LLC now owns 4,040 shares of the company’s stock worth $153,000 after buying an additional 1,991 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its position in PPL Corp. by 18.0% in the second quarter. Riggs Asset Managment Co. Inc. now owns 4,474 shares of the company’s stock worth $169,000 after buying an additional 683 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd raised its position in PPL Corp. by 2,250.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 4,700 shares of the company’s stock worth $177,000 after buying an additional 4,500 shares in the last quarter. 69.52% of the stock is currently owned by hedge funds and other institutional investors.
PPL Corp. Company Profile
PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. It operates through three segments: U.K.
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