PPL (PPL) Now Covered by Analysts at Citigroup
Stock analysts at Citigroup initiated coverage on shares of PPL (NYSE:PPL) in a research note issued to investors on Thursday, August 23rd, MarketBeat reports. The brokerage set a “neutral” rating and a $30.00 price target on the utilities provider’s stock. Citigroup’s price target would indicate a potential downside of 0.53% from the stock’s previous close.
Several other brokerages also recently commented on PPL. Deutsche Bank downgraded PPL from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. ValuEngine downgraded PPL from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Morgan Stanley boosted their price objective on PPL from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Monday, July 16th. Zacks Investment Research upgraded PPL from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Finally, Evercore ISI upgraded PPL from an “in-line” rating to an “outperform” rating in a research report on Wednesday, May 9th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $34.30.
Shares of PPL stock traded down $0.11 during trading hours on Thursday, hitting $30.16. The company’s stock had a trading volume of 3,017,411 shares, compared to its average volume of 4,273,708. PPL has a 12-month low of $25.30 and a 12-month high of $39.41. The company has a market capitalization of $21.09 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 2.57 and a beta of 0.50. The company has a quick ratio of 0.52, a current ratio of 0.58 and a debt-to-equity ratio of 1.80.
Large investors have recently bought and sold shares of the stock. Live Your Vision LLC raised its position in PPL by 75.3% during the second quarter. Live Your Vision LLC now owns 4,190 shares of the utilities provider’s stock valued at $119,000 after purchasing an additional 1,800 shares during the period. Haverford Trust Co. raised its position in PPL by 9.9% during the first quarter. Haverford Trust Co. now owns 20,039 shares of the utilities provider’s stock valued at $567,000 after purchasing an additional 1,811 shares during the period. IFM Investors Pty Ltd raised its position in PPL by 9.6% during the first quarter. IFM Investors Pty Ltd now owns 20,886 shares of the utilities provider’s stock valued at $591,000 after purchasing an additional 1,832 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in PPL by 1.9% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 108,238 shares of the utilities provider’s stock valued at $3,062,000 after purchasing an additional 2,000 shares during the period. Finally, Summit Trail Advisors LLC raised its position in PPL by 19.3% during the first quarter. Summit Trail Advisors LLC now owns 12,715 shares of the utilities provider’s stock valued at $179,000 after purchasing an additional 2,060 shares during the period. Institutional investors own 80.18% of the company’s stock.
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates in three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves 411,000 electric and 326,000 natural gas customers in Louisville and adjacent areas in Kentucky; 525,000 customers in central, southeastern, and western Kentucky; and approximately 28,000 customers in 5 counties in southwestern Virginia, and 3 customers in Tennessee.
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