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

PPL Co. (NYSE:PPL) has earned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $34.09.

PPL has been the subject of several recent analyst reports. JPMorgan Chase & Co. started coverage on shares of PPL in a research note on Friday, October 25th. They issued an “overweight” rating and a $37.00 target price for the company. Bank of America lifted their price objective on PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Citigroup increased their target price on PPL from $31.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Wells Fargo & Company lifted their price target on PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, BMO Capital Markets started coverage on shares of PPL in a research report on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 target price on the stock.

Insider Activity

In other PPL news, SVP Tadd J. Henninger sold 6,639 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $32.16, for a total transaction 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. This trade represents a 37.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John R. Crockett III sold 9,161 shares of PPL stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $34.35, for a total transaction of $314,680.35. Following the completion of 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 disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On PPL

Institutional investors have recently modified their holdings of the stock. Fortitude Family Office LLC increased its holdings 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 buying an additional 516 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of PPL in the 3rd quarter valued at approximately $34,000. Redwood Wealth Management Group LLC acquired a new stake in shares of PPL during the 2nd quarter valued at approximately $29,000. Covestor Ltd lifted its stake 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 purchasing an additional 880 shares during the last quarter. Finally, McClarren Financial Advisors Inc. boosted its holdings in PPL by 5,759.3% in the third quarter. McClarren Financial Advisors Inc. now owns 1,582 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 1,555 shares during the period. Institutional investors and hedge funds own 76.99% of the company’s stock.

PPL Stock Performance

NYSE PPL opened at $32.13 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.17. PPL has a fifty-two week low of $25.35 and a fifty-two week high of $35.15. The business has a fifty day moving average of $33.08 and a 200-day moving average of $31.65. The stock has a market cap of $23.71 billion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 2.78 and a beta of 0.83.

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

PPL Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th were given a dividend of $0.2575 per share. The ex-dividend date was Tuesday, December 10th. This represents a $1.03 dividend on an annualized basis and a yield of 3.21%. PPL’s dividend payout ratio (DPR) is 91.96%.

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.