Brokerages Set PPL Co. (NYSE:PPL) Target Price at $35.50

PPL Co. (NYSE:PPL) has been given an average rating of “Moderate Buy” by the ten research firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $35.50.

PPL has been the topic of several analyst reports. Barclays increased their price target on PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. JPMorgan Chase & Co. initiated coverage on shares of PPL in a report on Friday, October 25th. They issued an “overweight” rating and a $37.00 target price on the stock. Wells Fargo & Company upped their price target on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Morgan Stanley lifted their price objective on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Jefferies Financial Group started coverage on PPL in a research note on Thursday, September 19th. They set a “buy” rating and a $38.00 target price for the company.

PPL Stock Down 1.1 %

PPL stock opened at $34.45 on Friday. The firm has a market cap of $25.42 billion, a PE ratio of 30.76, a PEG ratio of 3.00 and a beta of 0.81. PPL has a 1 year low of $25.35 and a 1 year high of $35.00. The company has a fifty day simple moving average of $32.75 and a 200 day simple moving average of $30.65. The company has a current ratio of 1.29, a quick ratio of 1.07 and a debt-to-equity ratio of 1.17.

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

PPL Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be given a $0.2575 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $1.03 annualized dividend and a yield of 2.99%. PPL’s dividend payout ratio (DPR) is currently 91.97%.

Institutional Investors Weigh In On PPL

Institutional investors and hedge funds have recently bought and sold shares of the business. Great Valley Advisor Group Inc. boosted its position in shares of PPL by 1.7% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 17,696 shares of the utilities provider’s stock valued at $585,000 after acquiring an additional 301 shares in the last quarter. Leelyn Smith LLC lifted its stake in PPL by 0.4% during the second quarter. Leelyn Smith LLC now owns 79,887 shares of the utilities provider’s stock worth $2,209,000 after purchasing an additional 331 shares during the period. Cobblestone Capital Advisors LLC NY grew its stake in shares of PPL by 2.4% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 14,848 shares of the utilities provider’s stock valued at $491,000 after purchasing an additional 348 shares during the period. TFC Financial Management Inc. grew its stake in shares of PPL by 15.7% in the 2nd quarter. TFC Financial Management Inc. now owns 2,611 shares of the utilities provider’s stock valued at $72,000 after purchasing an additional 355 shares during the period. Finally, Centennial Wealth Advisory LLC raised its holdings in shares of PPL by 3.4% in the 2nd quarter. Centennial Wealth Advisory LLC now owns 11,250 shares of the utilities provider’s stock worth $311,000 after buying an additional 366 shares in the last quarter. Institutional investors own 76.99% of the company’s stock.

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.