PPL (NYSE:PPL) Hits New 1-Year High After Analyst Upgrade

PPL Co. (NYSE:PPLGet Rating)’s stock price reached a new 52-week high during mid-day trading on Tuesday after Morgan Stanley raised their price target on the stock from $32.00 to $33.00. Morgan Stanley currently has an overweight rating on the stock. PPL traded as high as $33.71 and last traded at $28.87, with a volume of 31386 shares. The stock had previously closed at $29.32.

A number of other research firms have also issued reports on PPL. Mizuho lifted their target price on PPL from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, January 12th. UBS Group lifted their price target on PPL to $33.00 in a research note on Wednesday, December 14th. Barclays initiated coverage on PPL in a research note on Wednesday, January 18th. They issued an “equal weight” rating on the stock. StockNews.com initiated coverage on PPL in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Guggenheim dropped their price target on PPL from $33.00 to $27.00 in a research note on Monday, October 24th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, PPL presently has an average rating of “Moderate Buy” and an average target price of $31.40.

Insiders Place Their Bets

In other PPL news, insider David J. Bonenberger sold 29,080 shares of the firm’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $30.00, for a total transaction of $872,400.00. Following the completion of the sale, the insider now directly owns 34,606 shares in the company, valued at approximately $1,038,180. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On PPL

Institutional investors have recently bought and sold shares of the business. MinichMacGregor Wealth Management LLC acquired a new stake in shares of PPL during the 4th quarter valued at about $25,000. Worth Asset Management LLC acquired a new stake in shares of PPL during the 1st quarter valued at about $27,000. CI Investments Inc. lifted its holdings in shares of PPL by 989.9% during the 3rd quarter. CI Investments Inc. now owns 970 shares of the utilities provider’s stock valued at $25,000 after buying an additional 881 shares during the last quarter. CX Institutional acquired a new stake in shares of PPL during the 2nd quarter valued at about $30,000. Finally, Gradient Investments LLC lifted its holdings in shares of PPL by 56.3% during the 3rd quarter. Gradient Investments LLC now owns 1,238 shares of the utilities provider’s stock valued at $31,000 after buying an additional 446 shares during the last quarter. 70.02% of the stock is currently owned by institutional investors and hedge funds.

PPL Trading Up 0.6 %

The firm has a market capitalization of $21.71 billion, a price-to-earnings ratio of 31.04 and a beta of 0.78. The company has a current ratio of 0.82, a quick ratio of 0.69 and a debt-to-equity ratio of 0.93. The company has a fifty day moving average price of $29.37 and a 200-day moving average price of $28.34.

PPL (NYSE:PPLGet Rating) last announced its quarterly earnings results on Friday, November 4th. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. PPL had a return on equity of 7.19% and a net margin of 9.86%. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $1.66 billion. On average, equities research analysts predict that PPL Co. will post 1.4 EPS for the current year.

PPL Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Friday, December 9th were issued a $0.225 dividend. The ex-dividend date of this dividend was Thursday, December 8th. This represents a $0.90 annualized dividend and a yield of 3.05%. PPL’s dividend payout ratio (DPR) is currently 94.74%.

PPL Company Profile

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PPL Corp. engages in the generation, transmission and distribution of electricity. It operates through the two reportable segments: Kentucky Regulated & Pennsylvania Regulated. The Kentucky Regulated segment consists of LKE’s regulated electricity generation, transmission and distribution operations of Louisville Gas and Electric Company and Kentucky Utilities Company as well as regulated distribution and sale of natural gas of Louisville Gas and Electric Company.

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