PPL Corporation (PPL) Receives “Hold” Rating from KeyCorp
KeyCorp reaffirmed their hold rating on shares of PPL Corporation (NYSE:PPL) in a research report report published on Friday. KeyCorp also issued estimates for PPL Corporation’s Q3 2017 earnings at $0.56 EPS.
Several other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of PPL Corporation from a hold rating to a sell rating in a research report on Friday, October 13th. SunTrust Banks, Inc. assumed coverage on shares of PPL Corporation in a research report on Tuesday, October 10th. They set a buy rating and a $43.00 price target for the company. ValuEngine upgraded shares of PPL Corporation from a hold rating to a buy rating in a research report on Friday, September 1st. BidaskClub upgraded shares of PPL Corporation from a sell rating to a hold rating in a research report on Friday, August 18th. Finally, Jefferies Group LLC restated a buy rating and set a $43.50 price target (up from $42.00) on shares of PPL Corporation in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. PPL Corporation has an average rating of Hold and a consensus price target of $39.35.
PPL Corporation (NYSE PPL) opened at 38.13 on Friday. The company’s 50-day moving average price is $38.34 and its 200 day moving average price is $38.59. The company has a market capitalization of $26.15 billion, a price-to-earnings ratio of 15.96 and a beta of 0.49. PPL Corporation has a 12 month low of $32.46 and a 12 month high of $40.20.
PPL Corporation (NYSE:PPL) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.02. PPL Corporation had a net margin of 22.08% and a return on equity of 15.96%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period in the prior year, the business posted $0.56 earnings per share. The company’s revenue was down 3.4% on a year-over-year basis. Analysts forecast that PPL Corporation will post $2.16 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were paid a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend was Thursday, September 7th. PPL Corporation’s dividend payout ratio (DPR) is 66.11%.
In other news, VP Joseph P. Bergstein, Jr. sold 2,983 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $39.00, for a total transaction of $116,337.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vincent Sorgi sold 5,600 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $39.00, for a total transaction of $218,400.00. Following the transaction, the insider now directly owns 97 shares of the company’s stock, valued at $3,783. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,234 shares of company stock valued at $1,742,952. Insiders own 0.40% of the company’s stock.
Large investors have recently modified their holdings of the company. Valley National Advisers Inc. raised its stake in shares of PPL Corporation by 3.2% during the first quarter. Valley National Advisers Inc. now owns 57,783 shares of the utilities provider’s stock valued at $2,161,000 after acquiring an additional 1,795 shares during the last quarter. Chemical Bank raised its stake in PPL Corporation by 15.0% in the second quarter. Chemical Bank now owns 63,026 shares of the utilities provider’s stock worth $2,437,000 after buying an additional 8,240 shares in the last quarter. Bank of Nova Scotia raised its stake in PPL Corporation by 924.3% in the first quarter. Bank of Nova Scotia now owns 156,210 shares of the utilities provider’s stock worth $5,840,000 after buying an additional 140,960 shares in the last quarter. BB&T Corp raised its stake in PPL Corporation by 4.3% in the second quarter. BB&T Corp now owns 185,257 shares of the utilities provider’s stock worth $7,163,000 after buying an additional 7,636 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in PPL Corporation by 53.6% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 18,129 shares of the utilities provider’s stock worth $678,000 after buying an additional 6,329 shares in the last quarter. 70.99% of the stock is owned by hedge funds and other institutional investors.
About PPL Corporation
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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