Macquarie lowered shares of PPL (NYSE:PPL) from a neutral rating to an underperform rating in a research report released on Tuesday, December 19th, MarketBeat.com reports. Macquarie currently has $30.00 price objective on the utilities provider’s stock.
A number of other brokerages also recently issued reports on PPL. Zacks Investment Research downgraded 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. KeyCorp reiterated a hold rating on shares of PPL in a research note on Friday, October 20th. SunTrust Banks started coverage on shares of PPL in a research note on Tuesday, October 10th. They issued a buy rating and a $43.00 price target for the company. Finally, Canaccord Genuity reissued a buy rating and set a $48.00 price objective on shares of PPL in a report on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. PPL has a consensus rating of Hold and an average price target of $38.72.
Shares of PPL (NYSE:PPL) traded up $0.20 during trading on Tuesday, reaching $31.08. 6,844,823 shares of the company were exchanged, compared to its average volume of 7,191,678. PPL has a one year low of $30.44 and a one year high of $40.20. The company has a quick ratio of 0.48, a current ratio of 0.56 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $21,400.00, a P/E ratio of 14.06, a P/E/G ratio of 1.90 and a beta of 0.48.
PPL (NYSE:PPL) last issued its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. PPL had a net margin of 20.60% and a return on equity of 15.30%. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. analysts predict that PPL will post 2.18 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th were issued a dividend of $0.395 per share. The ex-dividend date was Thursday, December 7th. This represents a $1.58 dividend on an annualized basis and a yield of 5.08%. PPL’s payout ratio is currently 71.49%.
A number of hedge funds have recently added to or reduced their stakes in the business. Tocqueville Asset Management L.P. raised its holdings in PPL by 0.6% during the second quarter. Tocqueville Asset Management L.P. now owns 21,500 shares of the utilities provider’s stock worth $831,000 after purchasing an additional 135 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC increased its holdings in shares of PPL by 2.1% in the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 10,085 shares of the utilities provider’s stock valued at $390,000 after acquiring an additional 205 shares during the period. Parallel Advisors LLC increased its holdings in shares of PPL by 7.6% in the 2nd quarter. Parallel Advisors LLC now owns 4,570 shares of the utilities provider’s stock valued at $175,000 after acquiring an additional 321 shares during the period. D.A. Davidson & CO. increased its holdings in shares of PPL by 4.2% in the 2nd quarter. D.A. Davidson & CO. now owns 8,554 shares of the utilities provider’s stock valued at $330,000 after acquiring an additional 344 shares during the period. Finally, Bank of Hawaii increased its holdings in shares of PPL by 0.5% in the 2nd quarter. Bank of Hawaii now owns 95,908 shares of the utilities provider’s stock valued at $3,708,000 after acquiring an additional 511 shares during the period. 71.24% of the stock is currently owned by institutional investors.
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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.
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