Analysts Set PPL Co. (PPL) Price Target at $37.35

Shares of PPL Co. (NYSE:PPL) have been given an average recommendation of “Hold” by the fifteen ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $37.35.

A number of research firms recently weighed in on PPL. SunTrust Banks set a $37.00 price objective on shares of PPL and gave the stock a “buy” rating in a research note on Monday, February 12th. ValuEngine raised shares of PPL from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. Zacks Investment Research raised shares of PPL from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Tuesday, December 12th. Royal Bank of Canada raised shares of PPL from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $28.32 to $33.00 in a research note on Tuesday, March 6th. Finally, Guggenheim reaffirmed a “hold” rating and issued a $32.00 price objective on shares of PPL in a research note on Wednesday, January 3rd.

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In other PPL news, insider Gregory N. Dudkin sold 9,320 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $31.67, for a total value of $295,164.40. Following the completion of the transaction, the insider now directly owns 25,940 shares in the company, valued at $821,519.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gregory N. Dudkin sold 2,378 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $29.19, for a total transaction of $69,413.82. Following the completion of the transaction, the insider now owns 23,562 shares of the company’s stock, valued at $687,774.78. The disclosure for this sale can be found here. Insiders sold 52,978 shares of company stock valued at $1,652,939 over the last quarter. 0.40% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in PPL. Caisse DE Depot ET Placement DU Quebec raised its holdings in PPL by 37.9% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,865,118 shares of the utilities provider’s stock worth $429,125,000 after purchasing an additional 3,808,000 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of PPL by 1,448.2% during the fourth quarter. Renaissance Technologies LLC now owns 3,088,700 shares of the utilities provider’s stock valued at $95,595,000 after acquiring an additional 2,889,200 shares in the last quarter. Boston Partners acquired a new position in shares of PPL during the fourth quarter valued at about $81,658,000. Bank of Montreal Can increased its holdings in shares of PPL by 41.9% during the fourth quarter. Bank of Montreal Can now owns 2,654,343 shares of the utilities provider’s stock valued at $82,152,000 after acquiring an additional 783,951 shares in the last quarter. Finally, Virtus Fund Advisers LLC increased its holdings in shares of PPL by 52.9% during the fourth quarter. Virtus Fund Advisers LLC now owns 2,175,000 shares of the utilities provider’s stock valued at $68,006,000 after acquiring an additional 752,400 shares in the last quarter. Institutional investors and hedge funds own 71.46% of the company’s stock.

Shares of NYSE:PPL traded up $0.12 during trading hours on Wednesday, reaching $28.29. 6,736,817 shares of the company traded hands, compared to its average volume of 8,002,099. The firm has a market capitalization of $19,634.67, a P/E ratio of 12.57, a P/E/G ratio of 2.03 and a beta of 0.54. PPL has a 12-month low of $27.08 and a 12-month high of $40.20. The company has a current ratio of 0.57, a quick ratio of 0.49 and a debt-to-equity ratio of 1.84.

PPL (NYSE:PPL) last issued its earnings results on Thursday, February 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.07. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $2.03 billion. PPL had a net margin of 15.15% and a return on equity of 14.75%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 earnings per share. analysts predict that PPL will post 2.32 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This is an increase from PPL’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 5.80%. PPL’s payout ratio is currently 72.89%.

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PPL Company Profile

PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates in three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves 411,000 electric and 326,000 natural gas customers in Louisville and adjacent areas in Kentucky; 525,000 customers in central, southeastern, and western Kentucky; and approximately 28,000 customers in 5 counties in southwestern Virginia, and 3 customers in Tennessee.

Analyst Recommendations for PPL (NYSE:PPL)

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