PPL’s (NYSE:PPL) “Hold” Rating Reiterated at Guggenheim
Several other analysts have also weighed in on the company. Zacks Investment Research upgraded PPL from a hold rating to a buy rating and set a $44.00 price objective for the company in a report on Tuesday, September 5th. Canaccord Genuity reaffirmed a buy rating and set a $48.00 target price on shares of PPL in a report on Thursday, November 30th. KeyCorp reissued a hold rating on shares of PPL in a research note on Friday, October 20th. SunTrust Banks reaffirmed a buy rating and issued a $42.00 target price on shares of PPL in a research report on Tuesday, December 26th. Finally, Macquarie lowered PPL from a neutral rating to an underperform rating and set a $30.00 target price on the stock. in a research report on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $38.50.
PPL (NYSE PPL) opened at $31.53 on Wednesday. PPL has a 52-week low of $30.44 and a 52-week high of $40.20. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.56 and a quick ratio of 0.48. The stock has a market capitalization of $22,037.74, a P/E ratio of 13.92, a price-to-earnings-growth ratio of 1.97 and a beta of 0.48.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 8th were issued a dividend of $0.395 per share. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $1.58 dividend on an annualized basis and a yield of 5.01%. PPL’s dividend payout ratio is 71.49%.
In other news, Chairman Victor A. Staffieri sold 19,524 shares of PPL stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $31.60, for a total value of $616,958.40. Following the completion of the sale, the chairman now directly owns 29,084 shares of the company’s stock, valued at approximately $919,054.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Joanne H. Raphael sold 5,045 shares of PPL stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $31.60, for a total value of $159,422.00. Following the transaction, the senior vice president now owns 24,080 shares in the company, valued at $760,928. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Wilbanks Smith & Thomas Asset Management LLC lifted its holdings in shares of PPL by 2.1% in the second quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 10,085 shares of the utilities provider’s stock valued at $390,000 after purchasing an additional 205 shares in the last quarter. D.A. Davidson & CO. increased its position in PPL by 4.2% during the second quarter. D.A. Davidson & CO. now owns 8,554 shares of the utilities provider’s stock worth $330,000 after buying an additional 344 shares during the last quarter. Bank of Hawaii grew its position in shares of PPL by 0.5% in the second quarter. Bank of Hawaii now owns 95,908 shares of the utilities provider’s stock valued at $3,708,000 after purchasing an additional 511 shares during the last quarter. Laurel Wealth Advisors Inc. grew its position in shares of PPL by 2.5% in the second quarter. Laurel Wealth Advisors Inc. now owns 22,820 shares of the utilities provider’s stock valued at $882,000 after purchasing an additional 556 shares during the last quarter. Finally, Ropes Wealth Advisors LLC grew its position in shares of PPL by 6.2% in the second quarter. Ropes Wealth Advisors LLC now owns 10,251 shares of the utilities provider’s stock valued at $396,000 after purchasing an additional 601 shares during the last quarter. Institutional investors own 71.39% of the company’s stock.
PPL 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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