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.

PPL (NYSE:PPL) last announced its quarterly earnings data on Tuesday, August 7th. The utilities provider reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. PPL had a return on equity of 15.30% and a net margin of 18.08%. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.75 billion. equities analysts expect that PPL will post 2.34 earnings per share for the current year.

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.

About PPL

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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Analyst Recommendations for PPL (NYSE:PPL)

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