PPL (NYSE:PPL) Earns “Average” Rating from GMP Securities

PPL (NYSE:PPL)‘s stock had its “average” rating reaffirmed by stock analysts at GMP Securities in a research note issued to investors on Wednesday, AnalystRatings.com reports. They presently have a $59.00 price target on the utilities provider’s stock. GMP Securities’ target price points to a potential upside of 99.39% from the stock’s current price.

PPL has been the topic of several other reports. Raymond James reissued an “average” rating on shares of PPL in a research report on Monday, May 6th. UBS Group cut their price target on shares of PPL from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, May 17th. ValuEngine cut shares of PPL from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Bank of America raised shares of PPL from an “underperform” rating to a “neutral” rating in a research report on Wednesday. Finally, Mizuho started coverage on shares of PPL in a report on Monday, June 3rd. They issued a “neutral” rating and a $30.00 target price on the stock. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $36.18.

Shares of NYSE:PPL opened at $29.59 on Wednesday. The business’s 50-day simple moving average is $30.55. The company has a quick ratio of 0.53, a current ratio of 0.60 and a debt-to-equity ratio of 1.73. PPL has a one year low of $27.31 and a one year high of $32.88. The company has a market cap of $21.41 billion, a PE ratio of 12.33 and a beta of 0.51.

PPL (NYSE:PPL) last issued its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. PPL had a net margin of 23.79% and a return on equity of 14.52%. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the firm posted $0.55 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, research analysts expect that PPL will post 2.42 EPS for the current year.

In other news, insider Philip Swift sold 3,782 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $30.26, for a total value of $114,443.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Federated Investors Inc. PA grew its position in shares of PPL by 5.3% during the 1st quarter. Federated Investors Inc. PA now owns 12,830,507 shares of the utilities provider’s stock worth $407,240,000 after purchasing an additional 647,901 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of PPL by 12.2% during the 4th quarter. Geode Capital Management LLC now owns 10,366,038 shares of the utilities provider’s stock worth $293,399,000 after acquiring an additional 1,129,588 shares in the last quarter. Northern Trust Corp boosted its position in shares of PPL by 2.1% during the 1st quarter. Northern Trust Corp now owns 8,412,681 shares of the utilities provider’s stock worth $267,019,000 after acquiring an additional 169,623 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of PPL by 17.2% during the 1st quarter. Janus Henderson Group PLC now owns 5,518,786 shares of the utilities provider’s stock worth $175,178,000 after acquiring an additional 808,535 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of PPL by 20.4% during the 1st quarter. California Public Employees Retirement System now owns 4,330,832 shares of the utilities provider’s stock worth $137,461,000 after acquiring an additional 734,286 shares in the last quarter. 72.93% of the stock is currently owned by hedge funds and other institutional investors.

About PPL

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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