PPL (PPL) Cut to “Underperform” at Macquarie

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.

TRADEMARK VIOLATION WARNING: This piece was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another site, it was illegally stolen and republished in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://ledgergazette.com/2018/01/13/ppl-ppl-rating-lowered-to-underperform-at-macquarie.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.

Analyst Recommendations for PPL (NYSE:PPL)

Receive News & Ratings for PPL Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPL and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply