Brokerages Set PPL Co. (NYSE:PPL) Target Price at $34.09

PPL Co. (NYSE:PPL) has been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $34.09.

Several analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Bank of America boosted their target price on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. initiated coverage on PPL in a report on Friday, October 25th. They issued an “overweight” rating and a $37.00 price target on the stock. Citigroup raised their target price on shares of PPL from $31.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Finally, Jefferies Financial Group lowered their price target on shares of PPL from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, December 17th.

PPL Stock Up 0.9 %

Shares of PPL opened at $32.01 on Friday. The company has a market capitalization of $23.62 billion, a P/E ratio of 28.58, a PEG ratio of 2.78 and a beta of 0.83. PPL has a one year low of $25.35 and a one year high of $35.15. The business’s 50 day simple moving average is $33.09 and its 200-day simple moving average is $31.64. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.29 and a quick ratio of 1.07.

PPL (NYSE:PPL) last posted its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. PPL had a return on equity of 9.20% and a net margin of 9.95%. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The business’s revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts predict that PPL will post 1.72 EPS for the current fiscal year.

PPL Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th were issued a dividend of $0.2575 per share. The ex-dividend date was Tuesday, December 10th. This represents a $1.03 annualized dividend and a yield of 3.22%. PPL’s dividend payout ratio (DPR) is currently 91.96%.

Insider Activity

In related news, insider John R. Crockett III sold 9,161 shares of PPL stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $34.35, for a total value of $314,680.35. Following the sale, the insider now owns 12,434 shares of the company’s stock, valued at approximately $427,107.90. This trade represents a 42.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Tadd J. Henninger sold 6,639 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $32.16, for a total value of $213,510.24. Following the completion of the sale, the senior vice president now owns 11,210 shares in the company, valued at $360,513.60. The trade was a 37.20 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.

Institutional Trading of PPL

A number of hedge funds and other institutional investors have recently made changes to their positions in PPL. Fortitude Family Office LLC grew its position in PPL by 195.5% in the third quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 516 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of PPL in the 3rd quarter valued at about $34,000. Redwood Wealth Management Group LLC acquired a new stake in shares of PPL in the second quarter valued at about $29,000. Covestor Ltd raised its holdings in PPL by 139.2% during the third quarter. Covestor Ltd now owns 1,512 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 880 shares in the last quarter. Finally, McClarren Financial Advisors Inc. boosted its position in PPL by 5,759.3% during the third quarter. McClarren Financial Advisors Inc. now owns 1,582 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 1,555 shares during the last quarter. 76.99% of the stock is currently owned by institutional investors and hedge funds.

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.