PPL (NYSE:PPL) Price Target Raised to $33.00 at Morgan Stanley

PPL (NYSE:PPLGet Rating) had its target price raised by Morgan Stanley from $32.00 to $33.00 in a research report released on Monday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

PPL has been the topic of several other research reports. TheStreet upgraded shares of PPL from a c+ rating to a b rating in a research note on Tuesday, December 6th. Barclays initiated coverage on shares of PPL in a report on Wednesday, January 18th. They issued an equal weight rating for the company. Mizuho raised their price objective on shares of PPL from $30.00 to $32.00 and gave the stock a neutral rating in a report on Thursday, January 12th. UBS Group raised their price objective on shares of PPL to $33.00 in a report on Wednesday, December 14th. Finally, Wells Fargo & Company increased their target price on shares of PPL to $34.00 in a research report on Wednesday, December 14th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $31.40.

PPL Price Performance

PPL opened at $29.32 on Monday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.69 and a current ratio of 0.82. PPL has a 1-year low of $23.47 and a 1-year high of $31.74. The company has a 50-day moving average of $29.33 and a 200-day moving average of $28.32. The company has a market capitalization of $21.59 billion, a P/E ratio of 30.86 and a beta of 0.78.

PPL (NYSE:PPLGet Rating) last issued its quarterly earnings results on Friday, November 4th. The utilities provider reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. PPL had a net margin of 9.86% and a return on equity of 7.19%. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $1.66 billion. Equities analysts expect that PPL will post 1.4 EPS for the current fiscal year.

PPL Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Thursday, December 8th. PPL’s dividend payout ratio is currently 94.74%.

Insider Buying and Selling at PPL

In other PPL news, insider David J. Bonenberger sold 29,080 shares of the stock in a transaction that occurred on Wednesday, January 4th. The shares were 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 owns 34,606 shares of the company’s stock, valued at approximately $1,038,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On PPL

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of PPL by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 93,472,081 shares of the utilities provider’s stock valued at $2,369,517,000 after purchasing an additional 3,419,854 shares during the last quarter. State Street Corp boosted its position in shares of PPL by 1.5% during the 3rd quarter. State Street Corp now owns 44,600,491 shares of the utilities provider’s stock valued at $1,140,463,000 after acquiring an additional 663,763 shares during the last quarter. Invesco Ltd. boosted its position in shares of PPL by 6.4% during the 1st quarter. Invesco Ltd. now owns 12,884,134 shares of the utilities provider’s stock valued at $367,969,000 after acquiring an additional 775,294 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of PPL by 39.8% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,358,289 shares of the utilities provider’s stock valued at $253,891,000 after acquiring an additional 2,662,870 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of PPL by 0.7% during the 2nd quarter. Legal & General Group Plc now owns 8,030,575 shares of the utilities provider’s stock valued at $217,870,000 after acquiring an additional 57,150 shares during the last quarter. 70.02% of the stock is currently owned by institutional investors.

PPL Company Profile

(Get Rating)

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.

Further Reading

Analyst Recommendations for PPL (NYSE:PPL)

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