Shares of PPL Corporation (NYSE:PPL) have been assigned a consensus recommendation of “Hold” from the eleven research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $38.81.
PPL has been the subject of a number of recent analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $43.50 price objective (up from $42.00) on shares of PPL Corporation in a research report on Wednesday. Zacks Investment Research raised PPL Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Wednesday, July 12th. Barclays PLC reissued an “equal weight” rating and set a $41.00 price target (up from $38.00) on shares of PPL Corporation in a report on Sunday, April 23rd. BidaskClub cut PPL Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, Goldman Sachs Group, Inc. (The) raised PPL Corporation from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $35.00 to $38.00 in a report on Monday, June 26th.
Shares of PPL Corporation (NYSE PPL) opened at 38.75 on Friday. The firm’s 50 day moving average is $38.38 and its 200 day moving average is $37.71. PPL Corporation has a 1-year low of $32.08 and a 1-year high of $40.20. The firm has a market capitalization of $26.58 billion, a PE ratio of 16.22 and a beta of 0.49.
PPL Corporation (NYSE:PPL) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.02. PPL Corporation had a return on equity of 15.96% and a net margin of 22.08%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the firm posted $0.56 earnings per share. The business’s revenue was down 3.4% on a year-over-year basis. Analysts anticipate that PPL Corporation will post $2.16 EPS for the current fiscal year.
In related news, VP Joseph P. Bergstein, Jr. sold 2,929 shares of the business’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $38.55, for a total transaction of $112,912.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Gregory N. Dudkin sold 8,228 shares of the business’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $39.55, for a total value of $325,417.40. Following the sale, the insider now owns 39,693 shares in the company, valued at approximately $1,569,858.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,740 shares of company stock worth $773,067. Corporate insiders own 0.42% of the company’s stock.
Large investors have recently modified their holdings of the company. Gulf International Bank UK Ltd raised its stake in shares of PPL Corporation by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 211,038 shares of the utilities provider’s stock worth $7,890,000 after buying an additional 2,750 shares in the last quarter. Raymond James Trust N.A. raised its stake in shares of PPL Corporation by 5.1% in the first quarter. Raymond James Trust N.A. now owns 53,296 shares of the utilities provider’s stock worth $1,994,000 after buying an additional 2,585 shares in the last quarter. Trust Co raised its stake in shares of PPL Corporation by 0.8% in the fourth quarter. Trust Co now owns 12,175 shares of the utilities provider’s stock worth $415,000 after buying an additional 101 shares in the last quarter. Catawba Capital Management VA purchased a new stake in shares of PPL Corporation during the first quarter worth $208,000. Finally, Pure Financial Advisors Inc. raised its stake in shares of PPL Corporation by 1.1% in the first quarter. Pure Financial Advisors Inc. now owns 7,460 shares of the utilities provider’s stock worth $279,000 after buying an additional 82 shares in the last quarter. Institutional investors and hedge funds own 71.05% of the company’s stock.
PPL Corporation Company Profile
PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. PPL operates through U.K.
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