PPL Corp (PPL) Given Consensus Rating of “Hold” by Analysts
Shares of PPL Corp (NYSE:PPL) have received an average rating of “Hold” from the fifteen analysts that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $34.00.
Several equities research analysts have issued reports on PPL shares. Zacks Investment Research raised shares of PPL from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Deutsche Bank cut shares of PPL from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Wells Fargo & Co boosted their price objective on shares of PPL from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Monday, September 17th. ValuEngine raised shares of PPL from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 6th. Finally, Citigroup started coverage on shares of PPL in a research report on Thursday, August 23rd. They issued a “neutral” rating and a $30.00 price objective for the company.
PPL stock opened at $30.25 on Friday. PPL has a 12 month low of $25.30 and a 12 month high of $38.55. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.58 and a quick ratio of 0.52. The stock has a market cap of $20.47 billion, a P/E ratio of 13.44, a PEG ratio of 2.50 and a beta of 0.51.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 10th were given a $0.41 dividend. The ex-dividend date was Friday, September 7th. This represents a $1.64 annualized dividend and a dividend yield of 5.42%. PPL’s payout ratio is presently 72.89%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC raised its stake in shares of PPL by 89.2% during the 2nd quarter. FMR LLC now owns 47,276,571 shares of the utilities provider’s stock worth $1,349,747,000 after acquiring an additional 22,285,268 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of PPL by 69.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,928,783 shares of the utilities provider’s stock worth $312,017,000 after acquiring an additional 4,489,564 shares in the last quarter. Luminus Management LLC raised its stake in shares of PPL by 180.4% during the 2nd quarter. Luminus Management LLC now owns 6,189,367 shares of the utilities provider’s stock worth $176,707,000 after acquiring an additional 3,981,732 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of PPL by 22.8% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 18,240,865 shares of the utilities provider’s stock worth $520,777,000 after acquiring an additional 3,388,148 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of PPL by 147.1% during the 1st quarter. Millennium Management LLC now owns 4,989,319 shares of the utilities provider’s stock worth $141,148,000 after acquiring an additional 2,970,302 shares in the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates in three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves 411,000 electric and 326,000 natural gas customers in Louisville and adjacent areas in Kentucky; 525,000 customers in central, southeastern, and western Kentucky; and approximately 28,000 customers in 5 counties in southwestern Virginia, and 3 customers in Tennessee.
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