Analysts Set PPL Co. (NYSE:PPL) Price Target at $35.50

Shares of PPL Co. (NYSE:PPL) have been given an average rating of “Moderate Buy” by the eleven analysts that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $34.09.

Several equities analysts recently weighed in on PPL shares. BMO Capital Markets started coverage on shares of PPL in a report on Wednesday. They set an “outperform” rating and a $36.00 target price on the stock. Wells Fargo & Company raised their price objective on PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. 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 on the stock. Citigroup boosted their price target on PPL from $31.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Barclays raised their price objective on PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st.

Insiders Place Their Bets

In other PPL news, insider John R. Crockett III sold 9,161 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $34.35, for a total value of $314,680.35. Following the transaction, the insider now directly owns 12,434 shares in the company, valued at $427,107.90. The trade was a 42.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.22% of the company’s stock.

Institutional Trading of PPL

Several hedge funds and other institutional investors have recently bought and sold shares of PPL. Fortitude Family Office LLC lifted its position in shares of PPL by 195.5% during the 3rd quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 516 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in PPL during the second quarter worth about $29,000. Redwood Wealth Management Group LLC acquired a new stake in PPL during the second quarter worth about $29,000. Ashton Thomas Securities LLC bought a new position in PPL in the 3rd quarter valued at about $34,000. Finally, Family Firm Inc. acquired a new position in shares of PPL in the 2nd quarter valued at approximately $38,000. Institutional investors and hedge funds own 76.99% of the company’s stock.

PPL Price Performance

Shares of NYSE:PPL opened at $32.29 on Wednesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.07 and a current ratio of 1.29. The business’s fifty day moving average price is $33.12 and its two-hundred day moving average price is $31.11. The stock has a market cap of $23.83 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 2.82 and a beta of 0.82. PPL has a one year low of $25.35 and a one year high of $35.15.

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

PPL Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be paid a $0.2575 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.03 annualized dividend and a yield of 3.19%. PPL’s payout ratio is currently 91.96%.

PPL Company Profile

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.