PPL (NYSE:PPL) Hits New 52-Week High – Should You Buy?

PPL Co. (NYSE:PPL)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $35.41 and last traded at $35.51, with a volume of 230558 shares. The stock had previously closed at $35.21.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PPL. Bank of America raised their target price on shares of PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, November 4th. BMO Capital Markets began coverage on shares of PPL in a report on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 target price on the stock. Jefferies Financial Group cut their target price on shares of PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Barclays raised their target price on shares of PPL from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 25th. Finally, Citigroup lifted their price target on shares of PPL from $31.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.27.

PPL Price Performance

The company has a debt-to-equity ratio of 1.13, a current ratio of 0.86 and a quick ratio of 0.71. The firm has a market cap of $26.20 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 2.77 and a beta of 0.83. The firm has a 50-day simple moving average of $33.29 and a 200 day simple moving average of $32.89.

PPL (NYSE:PPL) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.09 billion. PPL had a net margin of 10.49% and a return on equity of 8.88%. As a group, equities analysts expect that PPL Co. will post 1.83 EPS for the current year.

PPL Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a $0.2725 dividend. This represents a $1.09 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from PPL’s previous quarterly dividend of $0.26. PPL’s payout ratio is currently 90.08%.

Insider Transactions at PPL

In other PPL news, COO David J. Bonenberger sold 981 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $33.48, for a total value of $32,843.88. Following the completion of the transaction, the chief operating officer now owns 45,414 shares of the company’s stock, valued at approximately $1,520,460.72. The trade was a 2.11 % 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 1,424 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $33.48, for a total value of $47,675.52. Following the completion of the transaction, the senior vice president now directly owns 11,259 shares of the company’s stock, valued at approximately $376,951.32. This trade represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,633 shares of company stock valued at $346,657 in the last quarter. 0.22% of the stock is owned by insiders.

Hedge Funds Weigh In On PPL

Hedge funds have recently bought and sold shares of the business. Summit Securities Group LLC purchased a new position in PPL in the 4th quarter worth about $26,000. Kentucky Trust Co bought a new stake in shares of PPL during the 4th quarter valued at about $32,000. Lee Danner & Bass Inc. bought a new stake in shares of PPL during the 4th quarter valued at about $32,000. Ashton Thomas Securities LLC bought a new stake in shares of PPL during the 3rd quarter valued at about $34,000. Finally, Rosenberg Matthew Hamilton grew its stake in shares of PPL by 1,092.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 1,114 shares during the period. Hedge funds and other institutional investors own 76.99% of the company’s stock.

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.