PPL Corp. (PPL) Lowered to Hold at Zacks Investment Research
According to Zacks, “PPL Corporation’s diverse asset portfolio and business model allow it to perform in and adapt to different market conditions. PPL Corp.’s capital investment plan primarily focuses on infrastructure construction projects for generation, transmission and distribution. The company projects total capital expenditure of approximately $15.4 billion in the 2016–2020 timeframe. PPL Corp. has reestablished its hedge levels to shield itself from any near-term decline in the GBP. Nevertheless, volatile commodity prices and regulatory risks pose challenges to PPL Corporation’s growth. The price of the company's shares dropped compared with an increase in the broader industry share price in the last twelve months. PPL Corp.’s operations are also subject to service disruptions in form of breakdown of equipment, natural calamities and sudden outages.”
Several other research firms have also issued reports on PPL. Credit Suisse Group AG reaffirmed a hold rating and issued a $44.00 price target on shares of PPL Corp. in a research report on Friday, August 5th. Jefferies Group lowered their price target on PPL Corp. from $38.00 to $37.00 and set a hold rating for the company in a research report on Wednesday, August 10th. Guggenheim lowered PPL Corp. from a buy rating to a neutral rating in a research report on Tuesday, August 9th. Argus decreased their target price on PPL Corp. from $45.00 to $41.00 and set a buy rating for the company in a research report on Friday, September 9th. Finally, Wolfe Research raised PPL Corp. from a market perform rating to an outperform rating in a research report on Wednesday, September 14th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $37.71.
PPL Corp. (NYSE:PPL) opened at 34.15 on Monday. PPL Corp. has a 12 month low of $32.08 and a 12 month high of $39.92. The company has a market cap of $23.21 billion, a price-to-earnings ratio of 12.69 and a beta of 0.41. The firm’s 50-day moving average is $33.41 and its 200-day moving average is $35.84.
PPL Corp. (NYSE:PPL) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. The firm earned $1.89 billion during the quarter, compared to analyst estimates of $2.04 billion. PPL Corp. had a return on equity of 15.66% and a net margin of 24.59%. PPL Corp.’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. On average, analysts anticipate that PPL Corp. will post $2.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.44%. PPL Corp.’s dividend payout ratio (DPR) is presently 56.30%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Exxonmobil Investment Management Inc. TX increased its position in shares of PPL Corp. by 6.8% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 175,227 shares of the company’s stock worth $6,615,000 after buying an additional 11,159 shares during the period. DNB Asset Management AS increased its position in PPL Corp. by 14.6% in the second quarter. DNB Asset Management AS now owns 58,030 shares of the company’s stock valued at $2,191,000 after buying an additional 7,400 shares during the last quarter. British Columbia Investment Management Corp increased its position in PPL Corp. by 0.9% in the second quarter. British Columbia Investment Management Corp now owns 308,281 shares of the company’s stock valued at $11,638,000 after buying an additional 2,870 shares during the last quarter. CHURCHILL MANAGEMENT Corp increased its position in PPL Corp. by 8.2% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 475,960 shares of the company’s stock valued at $17,968,000 after buying an additional 35,959 shares during the last quarter. Finally, Raymond James Trust N.A. increased its position in PPL Corp. by 4.4% in the second quarter. Raymond James Trust N.A. now owns 49,098 shares of the company’s stock valued at $1,854,000 after buying an additional 2,048 shares during the last quarter. Institutional investors own 69.01% of the company’s stock.
About PPL Corp.
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. It operates through three segments: U.K.
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