PPL (PPL) Receives “Buy” Rating from Canaccord Genuity
Canaccord Genuity reiterated their buy rating on shares of PPL (NYSE:PPL) in a research note published on Thursday morning. The firm currently has a $48.00 target price on the utilities provider’s stock.
Several other research firms have also weighed in on PPL. Zacks Investment Research lowered shares of PPL from a buy rating to a hold rating in a research note on Monday, September 11th. ValuEngine upgraded shares of PPL from a hold rating to a buy rating in a research note on Friday, September 1st. Jefferies Group reiterated a buy rating and issued a $43.50 price objective (up previously from $42.00) on shares of PPL in a research note on Wednesday, August 9th. BidaskClub upgraded shares of PPL from a sell rating to a hold rating in a research note on Friday, August 18th. Finally, KeyCorp reiterated a hold rating on shares of PPL in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $41.28.
PPL (NYSE:PPL) traded down $0.40 during trading on Thursday, reaching $36.27. 3,115,748 shares of the company’s stock traded hands, compared to its average volume of 3,216,158. The firm has a market cap of $24,970.00, a price-to-earnings ratio of 15.88, a PEG ratio of 2.40 and a beta of 0.50. The company has a current ratio of 0.56, a quick ratio of 0.48 and a debt-to-equity ratio of 1.79. PPL has a 1 year low of $32.69 and a 1 year high of $40.20.
PPL (NYSE:PPL) last released its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.03. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $2.03 billion. PPL had a net margin of 20.60% and a return on equity of 15.30%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 EPS. research analysts expect that PPL will post 2.17 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be paid a dividend of $0.395 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.58 annualized dividend and a dividend yield of 4.36%. PPL’s dividend payout ratio (DPR) is 71.49%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. UBS Asset Management Americas Inc. increased its stake in shares of PPL by 14.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 2,714,803 shares of the utilities provider’s stock worth $104,954,000 after purchasing an additional 349,588 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its stake in shares of PPL by 2.3% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,632,511 shares of the utilities provider’s stock worth $99,904,000 after purchasing an additional 60,397 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of PPL by 0.3% during the 2nd quarter. Lord Abbett & CO. LLC now owns 2,435,800 shares of the utilities provider’s stock worth $94,168,000 after purchasing an additional 7,000 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in shares of PPL by 0.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,997,296 shares of the utilities provider’s stock worth $75,797,000 after purchasing an additional 15,900 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of PPL by 8.4% during the 3rd quarter. California Public Employees Retirement System now owns 1,825,189 shares of the utilities provider’s stock worth $69,266,000 after purchasing an additional 140,670 shares during the last quarter. Institutional investors own 71.31% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “PPL (PPL) Receives “Buy” Rating from Canaccord Genuity” was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States and international trademark and copyright legislation. The original version of this story can be accessed at https://www.watchlistnews.com/ppl-ppl-receives-buy-rating-from-canaccord-genuity/1737573.html.
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.
Receive News & Ratings for PPL Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPL Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.