Brokerages Set PPL Corp (PPL) Target Price at $34.00

Shares of PPL Corp (NYSE:PPL) have earned an average rating of “Hold” from the fourteen research firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $34.00.

Several research analysts have recently weighed in on PPL shares. Zacks Investment Research cut shares of PPL from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. ValuEngine raised shares of PPL from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 6th. Deutsche Bank cut shares of PPL from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Wells Fargo & Co boosted their price target on shares of PPL from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Monday, September 17th. Finally, TheStreet raised shares of PPL from a “c+” rating to a “b-” rating in a research report on Tuesday, August 28th.

Shares of PPL stock traded up $0.35 on Thursday, hitting $31.89. 4,356,178 shares of the stock traded hands, compared to its average volume of 6,144,705. The company has a current ratio of 0.58, a quick ratio of 0.51 and a debt-to-equity ratio of 1.69. The stock has a market cap of $22.82 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 2.69 and a beta of 0.40. PPL has a twelve month low of $25.30 and a twelve month high of $37.34.

PPL (NYSE:PPL) last announced its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.98 billion. PPL had a net margin of 19.17% and a return on equity of 15.23%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS. As a group, equities research analysts predict that PPL will post 2.35 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of PPL. Archford Capital Strategies LLC raised its holdings in PPL by 444.8% in the 2nd quarter. Archford Capital Strategies LLC now owns 3,868 shares of the utilities provider’s stock valued at $110,000 after buying an additional 3,158 shares during the period. Live Your Vision LLC raised its holdings in PPL by 75.3% in the 2nd quarter. Live Your Vision LLC now owns 4,190 shares of the utilities provider’s stock valued at $119,000 after buying an additional 1,800 shares during the period. Squar Milner Financial Services LLC purchased a new stake in PPL in the 2nd quarter valued at about $125,000. Westbourne Investment Advisors Inc. purchased a new stake in PPL in the 3rd quarter valued at about $153,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in PPL by 267.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,726 shares of the utilities provider’s stock valued at $163,000 after buying an additional 4,168 shares during the period. Hedge funds and other institutional investors own 77.91% of the company’s stock.

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.

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Analyst Recommendations for PPL (NYSE:PPL)

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