Morgan Stanley Analysts Give PPL (NYSE:PPL) a $30.00 Price Target

Morgan Stanley set a $30.00 price target on PPL (NYSE:PPL) in a report issued on Friday, TipRanks reports. The brokerage currently has a hold rating on the utilities provider’s stock.

Several other equities research analysts have also recently weighed in on the company. Evercore ISI set a $31.00 price target on PPL and gave the stock a hold rating in a research note on Wednesday, August 7th. GMP Securities reaffirmed an average rating and issued a $59.00 price target on shares of PPL in a research note on Wednesday, August 7th. Mizuho started coverage on PPL in a research note on Monday, June 3rd. They issued a neutral rating and a $30.00 price target on the stock. Bank of America raised PPL from an underperform rating to a neutral rating in a research note on Wednesday, August 7th. Finally, UBS Group reduced their price target on PPL from $37.00 to $36.00 and set a buy rating on the stock in a research note on Friday, May 17th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. PPL has a consensus rating of Hold and a consensus price target of $35.75.

PPL stock traded up $0.04 during midday trading on Friday, hitting $29.45. The stock had a trading volume of 5,826,798 shares, compared to its average volume of 4,464,769. The firm has a market cap of $21.23 billion, a price-to-earnings ratio of 12.27 and a beta of 0.51. The business has a 50-day moving average of $30.15 and a two-hundred day moving average of $31.01. PPL has a 52-week low of $27.31 and a 52-week high of $32.88. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.55 and a quick ratio of 0.48.

PPL (NYSE:PPL) last issued its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.02. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.86 billion. PPL had a return on equity of 14.57% and a net margin of 22.97%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share. Research analysts predict that PPL will post 2.42 earnings per share for the current year.

In other news, insider Philip Swift sold 3,782 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $30.26, for a total value of $114,443.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.34% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PPL. First Personal Financial Services boosted its position in shares of PPL by 2.1% during the first quarter. First Personal Financial Services now owns 16,457 shares of the utilities provider’s stock valued at $522,000 after buying an additional 345 shares during the last quarter. Baker Ellis Asset Management LLC lifted its holdings in PPL by 0.9% in the second quarter. Baker Ellis Asset Management LLC now owns 39,673 shares of the utilities provider’s stock valued at $1,230,000 after acquiring an additional 350 shares during the period. 6 Meridian lifted its holdings in PPL by 2.2% in the second quarter. 6 Meridian now owns 16,281 shares of the utilities provider’s stock valued at $505,000 after acquiring an additional 358 shares during the period. Private Capital Group LLC lifted its holdings in PPL by 35.2% in the second quarter. Private Capital Group LLC now owns 1,502 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 391 shares during the period. Finally, World Asset Management Inc lifted its holdings in PPL by 0.8% in the second quarter. World Asset Management Inc now owns 51,946 shares of the utilities provider’s stock valued at $1,611,000 after acquiring an additional 396 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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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