Shares of PPL Corporation (NYSE:PPL – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the thirteen research firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $41.6667.
A number of research analysts recently commented on PPL shares. Barclays increased their price target on PPL from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Mizuho upgraded PPL to a “hold” rating in a report on Friday, July 3rd. Seaport Research Partners set a $42.00 target price on PPL in a research report on Monday, April 20th. JPMorgan Chase & Co. upped their target price on PPL from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of PPL in a research note on Wednesday, July 22nd.
Read Our Latest Research Report on PPL
PPL Stock Performance
PPL (NYSE:PPL – Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. PPL had a net margin of 13.09% and a return on equity of 9.41%. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the prior year, the company posted $0.60 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, research analysts forecast that PPL will post 1.94 EPS for the current fiscal year.
PPL Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th were issued a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.14 annualized dividend and a yield of 3.3%. PPL’s dividend payout ratio is currently 69.51%.
Insiders Place Their Bets
In related news, CFO Ashley F. Johnson sold 34,993 shares of PPL stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $22.08, for a total value of $772,645.44. Following the completion of the transaction, the chief financial officer directly owned 561,482 shares in the company, valued at approximately $12,397,522.56. This trade represents a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kristen Robinson sold 37,107 shares of the business’s stock in a transaction dated Wednesday, July 15th. The shares were sold at an average price of $25.05, for a total value of $929,530.35. Following the completion of the sale, the director directly owned 222,897 shares of the company’s stock, valued at approximately $5,583,569.85. This represents a 14.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.34% of the company’s stock.
Institutional Investors Weigh In On PPL
Several institutional investors and hedge funds have recently made changes to their positions in PPL. Reaves W H & Co. Inc. grew its holdings in shares of PPL by 2.0% during the 4th quarter. Reaves W H & Co. Inc. now owns 4,424,814 shares of the utilities provider’s stock valued at $154,957,000 after purchasing an additional 88,531 shares during the last quarter. Captrust Financial Advisors lifted its stake in PPL by 62.8% in the 4th quarter. Captrust Financial Advisors now owns 115,776 shares of the utilities provider’s stock valued at $4,054,000 after purchasing an additional 44,657 shares during the last quarter. Pinebridge Investments LLC bought a new position in PPL in the 4th quarter valued at approximately $1,060,000. Allstate Corp boosted its position in PPL by 101.4% in the fourth quarter. Allstate Corp now owns 54,701 shares of the utilities provider’s stock valued at $1,916,000 after buying an additional 27,538 shares in the last quarter. Finally, Strategic Investment Advisors MI boosted its position in PPL by 256.5% in the first quarter. Strategic Investment Advisors MI now owns 35,277 shares of the utilities provider’s stock valued at $1,348,000 after buying an additional 25,382 shares in the last quarter. 76.99% of the stock is owned by institutional investors and hedge funds.
About PPL
PPL Corporation is an energy company that owns and operates electric transmission and distribution infrastructure and provides related customer services. The company’s core business centers on delivering electricity to residential, commercial and industrial customers through regulated utility operations, maintaining grid reliability, responding to outages and managing customer billing and account services.
PPL’s activities include construction and maintenance of distribution and transmission lines, meter and grid management, and programs to support energy efficiency and the interconnection of distributed resources.
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