PPL (NYSE:PPL) Reaches New 52-Week High – Here’s Why

PPL Co. (NYSE:PPL)’s share price reached a new 52-week high on Monday . The company traded as high as $33.81 and last traded at $33.81, with a volume of 1000 shares traded. The stock had previously closed at $33.70.

Wall Street Analysts Forecast Growth

PPL has been the topic of several research analyst reports. Morgan Stanley raised their price target on PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Bank of America increased their target price on PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Jefferies Financial Group began coverage on PPL in a research report on Thursday, September 19th. They issued a “buy” rating and a $38.00 price target on the stock. Wells Fargo & Company increased their price objective on PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Barclays boosted their target price on shares of PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $35.50.

PPL Stock Up 0.4 %

The firm has a market capitalization of $25.19 billion, a price-to-earnings ratio of 30.48, a price-to-earnings-growth ratio of 2.91 and a beta of 0.81. The business has a 50 day moving average of $32.60 and a 200 day moving average of $30.55. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.29 and a quick ratio of 1.07.

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

PPL Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were paid a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Tuesday, September 10th. PPL’s dividend payout ratio is 91.97%.

Institutional Investors Weigh In On PPL

Several large investors have recently modified their holdings of PPL. Great Valley Advisor Group Inc. boosted its stake in PPL by 1.7% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 17,696 shares of the utilities provider’s stock valued at $585,000 after buying an additional 301 shares in the last quarter. Leelyn Smith LLC lifted its holdings in shares of PPL by 0.4% during the second quarter. Leelyn Smith LLC now owns 79,887 shares of the utilities provider’s stock valued at $2,209,000 after acquiring an additional 331 shares during the period. Cobblestone Capital Advisors LLC NY boosted 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 in the last quarter. TFC Financial Management Inc. grew its holdings 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 worth $72,000 after purchasing an additional 355 shares during the last quarter. Finally, Centennial Wealth Advisory LLC increased its position in shares of PPL by 3.4% during the 2nd quarter. Centennial Wealth Advisory LLC now owns 11,250 shares of the utilities provider’s stock worth $311,000 after purchasing an additional 366 shares in the last quarter. 76.99% of the stock is currently 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.