PPL Corp (PPL) Given Consensus Rating of “Hold” by Analysts
Shares of PPL Corp (NYSE:PPL) have been given a consensus rating of “Hold” by the fifteen analysts that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $34.00.
Several research analysts have issued reports on PPL shares. Zacks Investment Research cut shares of PPL from a “hold” rating to a “sell” rating in a report on Tuesday, June 5th. UBS Group decreased their target price on shares of PPL from $37.00 to $34.00 and set a “buy” rating for the company in a report on Friday, June 8th. Morgan Stanley decreased their target price on shares of PPL from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Wednesday, June 13th. Deutsche Bank cut shares of PPL from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Finally, Citigroup started coverage on shares of PPL in a report on Thursday, August 23rd. They issued a “neutral” rating and a $30.00 target price for the company.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PPL. FMR LLC raised its holdings in shares of PPL by 89.2% during the second quarter. FMR LLC now owns 47,276,571 shares of the utilities provider’s stock valued at $1,349,747,000 after purchasing an additional 22,285,268 shares during the last quarter. BlackRock Inc. raised its holdings in shares of PPL by 17.2% during the first quarter. BlackRock Inc. now owns 60,971,163 shares of the utilities provider’s stock valued at $1,724,873,000 after purchasing an additional 8,934,723 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of PPL by 69.7% during the second quarter. Bank of New York Mellon Corp now owns 10,928,783 shares of the utilities provider’s stock valued at $312,017,000 after purchasing an additional 4,489,564 shares during the last quarter. Luminus Management LLC raised its holdings in shares of PPL by 180.4% during the second quarter. Luminus Management LLC now owns 6,189,367 shares of the utilities provider’s stock valued at $176,707,000 after purchasing an additional 3,981,732 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of PPL by 22.8% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 18,240,865 shares of the utilities provider’s stock valued at $520,777,000 after purchasing an additional 3,388,148 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.
PPL (NYSE:PPL) last issued its quarterly earnings results on Tuesday, August 7th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. PPL had a net margin of 18.08% and a return on equity of 15.30%. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.75 billion. research analysts expect that PPL will post 2.34 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Monday, September 10th will be issued a dividend of $0.41 per share. The ex-dividend date is Friday, September 7th. This represents a $1.64 annualized dividend and a dividend yield of 5.62%. PPL’s payout ratio is 72.89%.
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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