PPL (PPL) Price Target Raised to $30.00
PPL (NYSE:PPL) had its target price upped by research analysts at Morgan Stanley from $29.00 to $30.00 in a report released on Tuesday, Marketbeat Ratings reports. The firm presently has a “hold” rating on the utilities provider’s stock. Morgan Stanley’s target price would indicate a potential downside of 0.27% from the company’s previous close.
Several other analysts have also recently issued reports on the stock. TheStreet upgraded shares of PPL from a “c+” rating to a “b-” rating in a research note on Tuesday, August 28th. Citigroup began coverage on shares of PPL in a research note on Thursday, August 23rd. They issued a “neutral” rating and a $30.00 target price on the stock. Deutsche Bank cut shares of PPL from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Zacks Investment Research upgraded shares of PPL from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Finally, UBS Group lowered their target price on shares of PPL from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, June 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $34.80.
NYSE PPL traded down $0.10 on Tuesday, hitting $30.08. The stock had a trading volume of 37,725 shares, compared to its average volume of 6,499,588. PPL has a 52-week low of $25.30 and a 52-week high of $39.77. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.58 and a quick ratio of 0.52. The stock has a market capitalization of $20.81 billion, a PE ratio of 13.36, a P/E/G ratio of 2.54 and a beta of 0.50.
Several institutional investors have recently bought and sold shares of PPL. Archford Capital Strategies LLC raised its position in shares of PPL by 444.8% during the 2nd quarter. Archford Capital Strategies LLC now owns 3,868 shares of the utilities provider’s stock valued at $110,000 after buying an additional 3,158 shares in the last quarter. Live Your Vision LLC boosted its holdings in shares of PPL by 75.3% in the 2nd quarter. Live Your Vision LLC now owns 4,190 shares of the utilities provider’s stock valued at $119,000 after buying an additional 1,800 shares in the last quarter. McKinley Carter Wealth Services Inc. bought a new stake in shares of PPL in the 1st quarter valued at about $120,000. Squar Milner Financial Services LLC bought a new stake in shares of PPL in the 2nd quarter valued at about $125,000. Finally, Smithfield Trust Co. boosted its holdings in shares of PPL by 131.1% in the 1st quarter. Smithfield Trust Co. now owns 4,958 shares of the utilities provider’s stock valued at $141,000 after buying an additional 2,813 shares in the last quarter. Hedge funds and other institutional investors own 80.18% of the company’s stock.
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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