PPL (NYSE:PPL) Price Target Increased to $30.00 by Analysts at Morgan Stanley

PPL (NYSE:PPL) had its price target boosted by analysts at Morgan Stanley from $28.00 to $30.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 14.72% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating on shares of PPL in a report on Monday, October 2nd. Barclays reduced their price target on shares of PPL from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 24th. UBS Group downgraded shares of PPL from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $29.00 to $25.00 in a report on Wednesday, October 4th. Citigroup began coverage on PPL in a report on Thursday, October 5th. They issued a “neutral” rating and a $42.00 target price on the stock. Finally, TheStreet lowered PPL from a “b-” rating to a “c” rating in a research note on Friday, August 4th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.13.

PPL Price Performance

Shares of NYSE PPL traded down $0.02 during mid-day trading on Tuesday, reaching $26.15. The company’s stock had a trading volume of 1,121,567 shares, compared to its average volume of 5,432,695. The stock has a fifty day moving average of $24.61 and a two-hundred day moving average of $25.83. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.96 and a quick ratio of 0.79. PPL has a 52 week low of $22.20 and a 52 week high of $31.74. The firm has a market capitalization of $19.28 billion, a PE ratio of 23.55, a P/E/G ratio of 2.22 and a beta of 0.83.

Institutional Trading of PPL

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Coppell Advisory Solutions Corp. purchased a new stake in PPL in the 4th quarter valued at about $25,000. West Tower Group LLC bought a new stake in PPL during the second quarter valued at about $26,000. Altshuler Shaham Ltd purchased a new stake in shares of PPL during the third quarter valued at about $26,000. Worth Asset Management LLC bought a new stake in shares of PPL in the 1st quarter valued at about $27,000. Finally, Compass Wealth Management LLC purchased a new position in shares of PPL in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 73.09% of the company’s stock.

PPL Company Profile

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.5 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.