PPL (PPL) Price Target Cut to $36.00 by Analysts at UBS Group

PPL (NYSE:PPL) had its price objective reduced by UBS Group from $37.00 to $36.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. UBS Group currently has a buy rating on the utilities provider’s stock.

A number of other research analysts also recently issued reports on PPL. Evercore ISI downgraded shares of PPL from an outperform rating to an in-line rating in a research report on Thursday, February 7th. SunTrust Banks restated a buy rating and issued a $35.00 price target on shares of PPL in a research report on Wednesday, February 13th. Royal Bank of Canada downgraded shares of PPL from an outperform rating to a sector perform rating and boosted their price target for the stock from $32.00 to $33.00 in a research report on Friday, March 8th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of PPL from a hold rating to a sell rating in a research report on Thursday, March 14th. Finally, Raymond James reiterated an average rating on shares of PPL in a research report on Monday, May 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. PPL currently has a consensus rating of Hold and a consensus target price of $34.56.

NYSE:PPL opened at $29.69 on Friday. The company has a market cap of $21.42 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 2.46 and a beta of 0.52. PPL has a one year low of $25.30 and a one year high of $32.88. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.53 and a current ratio of 0.60.

PPL (NYSE:PPL) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.03). The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.19 billion. PPL had a return on equity of 14.52% and a net margin of 23.79%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 EPS. On average, analysts expect that PPL will post 2.42 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 10th will be given a dividend of $0.4125 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.56%. PPL’s payout ratio is presently 68.75%.

In related news, Chairman William H. Spence sold 225,365 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $32.50, for a total transaction of $7,324,362.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in PPL. Liberty Wealth Management LLC bought a new stake in PPL during the 4th quarter valued at $27,000. Private Capital Group LLC increased its stake in PPL by 68.6% during the 1st quarter. Private Capital Group LLC now owns 1,111 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 452 shares in the last quarter. Sandy Spring Bank increased its stake in PPL by 109.1% during the 4th quarter. Sandy Spring Bank now owns 1,171 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 611 shares in the last quarter. Resources Investment Advisors Inc. increased its stake in PPL by 129.8% during the 1st quarter. Resources Investment Advisors Inc. now owns 1,241 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 701 shares in the last quarter. Finally, Genesee Capital Advisors LLC bought a new stake in PPL during the 1st quarter valued at $43,000. Institutional investors own 74.95% of the company’s stock.

PPL Company Profile

PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 414,000 electric and 328,000 natural gas customers in Louisville and adjacent areas in Kentucky; 527,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.

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Analyst Recommendations for PPL (NYSE:PPL)

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