Guggenheim Reaffirms “Hold” Rating for PPL (PPL)
Guggenheim reaffirmed their hold rating on shares of PPL (NYSE:PPL) in a research note issued to investors on Wednesday morning. They currently have a $32.00 target price on the utilities provider’s stock.
Several other brokerages have also recently issued reports on PPL. Zacks Investment Research cut PPL from a buy rating to a hold rating in a report on Monday, September 11th. Canaccord Genuity reaffirmed a buy rating and issued a $48.00 target price on shares of PPL in a report on Thursday, November 30th. SunTrust Banks reaffirmed a buy rating and issued a $42.00 target price on shares of PPL in a report on Tuesday, December 26th. Macquarie cut PPL from a neutral rating to an underperform rating and set a $30.00 target price on the stock. in a report on Tuesday, December 19th. Finally, KeyCorp reaffirmed a hold rating on shares of PPL in a report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $39.06.
Shares of PPL (NYSE PPL) traded up $0.20 during mid-day trading on Wednesday, hitting $30.95. The stock had a trading volume of 7,201,300 shares, compared to its average volume of 7,023,781. PPL has a 1 year low of $30.44 and a 1 year high of $40.20. The company has a quick ratio of 0.48, a current ratio of 0.56 and a debt-to-equity ratio of 1.79. The company has a market capitalization of $21,307.96, a PE ratio of 13.46, a price-to-earnings-growth ratio of 1.90 and a beta of 0.48.
PPL (NYSE:PPL) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.03. PPL had a return on equity of 15.30% and a net margin of 20.60%. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the firm posted $0.63 earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year. research analysts forecast that PPL will post 2.18 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 8th were given a $0.395 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $1.58 annualized dividend and a yield of 5.11%. PPL’s dividend payout ratio is currently 71.49%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. QUANTRES ASSET MANAGEMENT Ltd grew its position in PPL by 253.1% in the fourth quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 28,600 shares of the utilities provider’s stock worth $885,000 after acquiring an additional 20,500 shares in the last quarter. Fulton Bank N.A. grew its position in PPL by 3.0% in the fourth quarter. Fulton Bank N.A. now owns 93,227 shares of the utilities provider’s stock worth $2,886,000 after acquiring an additional 2,717 shares in the last quarter. Prudential Financial Inc. grew its position in PPL by 16.5% in the third quarter. Prudential Financial Inc. now owns 5,030,604 shares of the utilities provider’s stock worth $190,912,000 after acquiring an additional 714,250 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in PPL by 1.9% in the third quarter. Parametric Portfolio Associates LLC now owns 1,784,213 shares of the utilities provider’s stock worth $67,711,000 after acquiring an additional 33,483 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in PPL in the third quarter worth about $1,164,000. Institutional investors own 71.24% of the company’s stock.
PPL 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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