PPL (NYSE:PPL) had its target price upped by analysts at Citigroup from $33.00 to $36.00 in a report issued on Monday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the utilities provider’s stock. Citigroup‘s price target points to a potential downside of 1.75% from the stock’s previous close.
A number of other analysts have also commented on PPL. SunTrust Banks boosted their price target on PPL from $37.00 to $40.00 and gave the company a “buy” rating in a report on Monday, December 16th. Argus restated a “buy” rating and issued a $39.00 price target (up from $34.00) on shares of PPL in a report on Friday, January 10th. Guggenheim upgraded PPL from a “neutral” rating to a “buy” rating in a report on Tuesday, January 7th. Zacks Investment Research upgraded PPL from a “sell” rating to a “hold” rating and set a $34.00 price target on the stock in a report on Tuesday, October 15th. Finally, ValuEngine lowered PPL from a “hold” rating to a “sell” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $38.79.
Shares of PPL stock opened at $36.64 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.66 and a debt-to-equity ratio of 1.81. PPL has a 12 month low of $28.55 and a 12 month high of $36.82. The business has a fifty day simple moving average of $35.68 and a 200 day simple moving average of $32.51. The stock has a market cap of $26.41 billion, a PE ratio of 14.89 and a beta of 0.51.
PPL (NYSE:PPL) last announced its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). PPL had a return on equity of 14.73% and a net margin of 23.17%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period last year, the firm earned $0.59 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts expect that PPL will post 2.42 EPS for the current fiscal year.
In related news, CEO William H. Spence sold 388,968 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $34.32, for a total transaction of $13,349,381.76. Also, COO Vincent Sorgi sold 13,696 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.04, for a total value of $466,211.84. Following the sale, the chief operating officer now owns 30,976 shares in the company, valued at approximately $1,054,423.04. The disclosure for this sale can be found here. Insiders have sold 790,664 shares of company stock worth $26,840,754 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tiedemann Advisors LLC raised its stake in PPL by 13.1% in the third quarter. Tiedemann Advisors LLC now owns 228,687 shares of the utilities provider’s stock valued at $7,288,000 after buying an additional 26,548 shares during the period. Nomura Holdings Inc. raised its stake in PPL by 1,052.9% in the third quarter. Nomura Holdings Inc. now owns 137,479 shares of the utilities provider’s stock valued at $4,304,000 after buying an additional 125,554 shares during the period. EP Wealth Advisors LLC raised its stake in PPL by 5.3% in the third quarter. EP Wealth Advisors LLC now owns 23,276 shares of the utilities provider’s stock valued at $733,000 after buying an additional 1,177 shares during the period. Advisor Partners LLC raised its stake in PPL by 23.1% in the fourth quarter. Advisor Partners LLC now owns 16,695 shares of the utilities provider’s stock valued at $599,000 after buying an additional 3,138 shares during the period. Finally, Stephens Inc. AR raised its stake in PPL by 4.8% in the third quarter. Stephens Inc. AR now owns 175,409 shares of the utilities provider’s stock valued at $5,524,000 after buying an additional 8,102 shares during the period. Institutional investors and hedge funds own 70.63% of the company’s stock.
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 414,000 electric and 328,000 natural gas customers in Louisville and adjacent areas in Kentucky; 527,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.
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