PPL (NYSE:PPL) was upgraded by Evercore ISI from an “in-line” rating to an “outperform” rating in a research report issued on Wednesday, May 9th, MarketBeat reports.
PPL has been the topic of several other reports. SunTrust Banks set a $37.00 price objective on shares of PPL and gave the company a “buy” rating in a report on Monday, February 12th. ValuEngine upgraded shares of PPL from a “hold” rating to a “buy” rating in a report on Thursday, January 11th. Royal Bank of Canada upgraded shares of PPL from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $28.32 to $33.00 in a report on Tuesday, March 6th. TheStreet lowered shares of PPL from a “b-” rating to a “c+” rating in a report on Thursday, January 18th. Finally, Deutsche Bank upgraded shares of PPL from a “hold” rating to a “buy” rating and cut their price target for the stock from $39.00 to $36.00 in a research note on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $37.15.
Shares of PPL opened at $26.74 on Wednesday. The stock has a market capitalization of $18.88 billion, a P/E ratio of 11.40, a P/E/G ratio of 1.96 and a beta of 0.51. PPL has a 12-month low of $26.88 and a 12-month high of $27.34. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.52 and a current ratio of 0.59.
PPL (NYSE:PPL) last issued its quarterly earnings data on Thursday, May 3rd. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.08. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.09 billion. PPL had a net margin of 15.44% and a return on equity of 15.24%. PPL’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 EPS. analysts expect that PPL will post 2.3 earnings per share for the current year.
In other news, Chairman Victor A. Staffieri sold 4,232 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $29.20, for a total transaction of $123,574.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gregory N. Dudkin sold 2,378 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $29.19, for a total value of $69,413.82. Following the transaction, the insider now directly owns 23,562 shares of the company’s stock, valued at $687,774.78. The disclosure for this sale can be found here. Insiders have sold 8,815 shares of company stock worth $257,352 over the last quarter. Insiders own 0.38% of the company’s stock.
Several institutional investors have recently made changes to their positions in PPL. Hexavest Inc. grew its position in shares of PPL by 1.6% during the fourth quarter. Hexavest Inc. now owns 1,765,554 shares of the utilities provider’s stock worth $54,644,000 after buying an additional 27,387 shares in the last quarter. Atria Investments LLC grew its position in shares of PPL by 18.4% during the fourth quarter. Atria Investments LLC now owns 90,704 shares of the utilities provider’s stock worth $2,807,000 after buying an additional 14,106 shares in the last quarter. BLB&B Advisors LLC grew its position in shares of PPL by 1.5% during the fourth quarter. BLB&B Advisors LLC now owns 183,230 shares of the utilities provider’s stock worth $5,671,000 after buying an additional 2,783 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV grew its position in shares of PPL by 32.6% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 23,970 shares of the utilities provider’s stock worth $742,000 after buying an additional 5,891 shares in the last quarter. Finally, Bank of Montreal Can grew its position in shares of PPL by 41.9% during the fourth quarter. Bank of Montreal Can now owns 2,654,343 shares of the utilities provider’s stock worth $82,152,000 after buying an additional 783,951 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.
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 in three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves 411,000 electric and 326,000 natural gas customers in Louisville and adjacent areas in Kentucky; 525,000 customers in central, southeastern, and western Kentucky; and approximately 28,000 customers in 5 counties in southwestern Virginia, and 3 customers in Tennessee.
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