Citigroup Upgrades PPL (NYSE:PPL) to “Strong-Buy”

Citigroup upgraded shares of PPL (NYSE:PPL) from a hold rating to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

A number of other equities analysts have also issued reports on PPL. Barclays boosted their target price on shares of PPL from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 25th. BMO Capital Markets initiated coverage on shares of PPL in a research report on Wednesday, December 11th. They set an “outperform” rating and a $36.00 target price on the stock. Finally, Jefferies Financial Group dropped their target price on shares of PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.70.

PPL Trading Down 0.8 %

Shares of PPL stock opened at $34.02 on Monday. PPL has a 12 month low of $25.93 and a 12 month high of $35.91. The company has a quick ratio of 0.71, a current ratio of 0.86 and a debt-to-equity ratio of 1.13. The business’s 50 day moving average is $33.60 and its two-hundred day moving average is $33.05. The company has a market cap of $25.11 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 2.77 and a beta of 0.76.

PPL (NYSE:PPL) last announced its earnings results on Thursday, February 13th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). PPL had a return on equity of 8.88% and a net margin of 10.49%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.09 billion. Equities analysts predict that PPL will post 1.83 EPS for the current year.

PPL Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 3.20%. 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 90.08%.

Insider Activity

In related news, SVP Tadd J. Henninger sold 6,639 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $32.16, for a total transaction of $213,510.24. Following the transaction, the senior vice president now owns 11,210 shares in the company, valued at $360,513.60. This represents a 37.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John R. Crockett III sold 1,589 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $33.12, for a total transaction of $52,627.68. Following the transaction, the insider now owns 10,845 shares in the company, valued at approximately $359,186.40. This trade represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,779 shares of company stock worth $386,515. Corporate insiders own 0.22% of the company’s stock.

Institutional Trading of PPL

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its stake in shares of PPL by 2.4% in the 4th quarter. Global Retirement Partners LLC now owns 12,530 shares of the utilities provider’s stock valued at $407,000 after acquiring an additional 299 shares during the last quarter. Norinchukin Bank The increased its stake in PPL by 1.1% during the 4th quarter. Norinchukin Bank The now owns 28,002 shares of the utilities provider’s stock worth $909,000 after purchasing an additional 299 shares in the last quarter. Great Valley Advisor Group Inc. increased its stake in PPL by 1.7% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 17,696 shares of the utilities provider’s stock worth $585,000 after purchasing an additional 301 shares in the last quarter. Opal Wealth Advisors LLC increased its stake in PPL by 4.7% during the 4th quarter. Opal Wealth Advisors LLC now owns 6,797 shares of the utilities provider’s stock worth $221,000 after purchasing an additional 305 shares in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. increased its stake in PPL by 0.4% during the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 78,296 shares of the utilities provider’s stock worth $2,480,000 after purchasing an additional 313 shares in the last quarter. 76.99% of the stock is owned by institutional investors.

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.