PPL Corp’s (PPL) “Equal Weight” Rating Reiterated at Barclays PLC
Barclays PLC restated their equal weight rating on shares of PPL Corp (NYSE:PPL) in a research report released on Sunday morning. They currently have a $41.00 target price on the utilities provider’s stock, up from their previous target price of $38.00.
A number of other equities analysts have also recently commented on the company. Deutsche Bank AG boosted their price target on PPL Corp from $36.00 to $38.00 and gave the stock a hold rating in a report on Tuesday, April 11th. Royal Bank of Canada reissued a hold rating and set a $37.00 price target on shares of PPL Corp in a report on Wednesday, January 4th. Jefferies Group LLC boosted their price objective on PPL Corp from $35.00 to $36.50 and gave the stock a hold rating in a research report on Thursday, February 2nd. Goldman Sachs Group Inc lowered PPL Corp from a neutral rating to a sell rating and reduced their price objective for the stock from $34.00 to $33.00 in a research report on Tuesday, January 17th. Finally, Zacks Investment Research lowered PPL Corp from a buy rating to a hold rating in a research report on Tuesday, January 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $37.75.
PPL Corp (NYSE:PPL) traded up 0.34% during mid-day trading on Friday, reaching $37.93. The company’s stock had a trading volume of 3,919,936 shares. The company has a market cap of $25.82 billion, a price-to-earnings ratio of 13.59 and a beta of 0.45. The stock’s 50 day moving average is $37.22 and its 200 day moving average is $34.95. PPL Corp has a 12 month low of $32.08 and a 12 month high of $39.92.
PPL Corp (NYSE:PPL) last released its quarterly earnings results on Wednesday, February 1st. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.08. The business earned $1.83 billion during the quarter, compared to the consensus estimate of $2.06 billion. PPL Corp had a return on equity of 16.76% and a net margin of 25.30%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 EPS. Equities research analysts predict that PPL Corp will post $2.16 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Friday, March 10th were paid a dividend of $0.395 per share. The ex-dividend date was Wednesday, March 8th. This is an increase from PPL Corp’s previous quarterly dividend of $0.38. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.17%. PPL Corp’s dividend payout ratio (DPR) is currently 54.48%.
In other PPL Corp news, SVP Joanne H. Raphael sold 5,734 shares of the firm’s stock in a transaction that occurred on Tuesday, January 24th. The shares were sold at an average price of $34.36, for a total value of $197,020.24. Following the completion of the sale, the senior vice president now directly owns 25,424 shares in the company, valued at $873,568.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman William H. Spence sold 67,533 shares of the firm’s stock in a transaction that occurred on Tuesday, January 24th. The shares were sold at an average price of $34.57, for a total transaction of $2,334,615.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 157,521 shares of company stock worth $5,621,198. Insiders own 0.42% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Epoch Investment Partners Inc. boosted its position in PPL Corp by 3.4% in the third quarter. Epoch Investment Partners Inc. now owns 17,128,768 shares of the utilities provider’s stock worth $592,141,000 after buying an additional 567,257 shares during the last quarter. Northern Trust Corp raised its stake in shares of PPL Corp by 1.4% in the third quarter. Northern Trust Corp now owns 7,480,135 shares of the utilities provider’s stock valued at $258,588,000 after buying an additional 104,613 shares during the period. Norges Bank bought a new stake in shares of PPL Corp during the fourth quarter valued at about $168,881,000. Thompson Siegel & Walmsley LLC raised its stake in shares of PPL Corp by 39.5% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 3,753,962 shares of the utilities provider’s stock valued at $127,822,000 after buying an additional 1,062,016 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of PPL Corp by 15.5% in the third quarter. Wells Fargo & Company MN now owns 3,317,990 shares of the utilities provider’s stock valued at $114,704,000 after buying an additional 445,853 shares during the period. Institutional investors own 71.29% of the company’s stock.
PPL Corp Company Profile
PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. PPL operates through U.K.
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