PPL (NYSE:PPL) Reaches New 1-Year High – Here’s Why

PPL Co. (NYSE:PPL)’s share price reached a new 52-week high on Wednesday . The company traded as high as $35.04 and last traded at $34.94, with a volume of 141380 shares traded. The stock had previously closed at $34.84.

Analyst Upgrades and Downgrades

PPL has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Jefferies Financial Group initiated coverage on shares of PPL in a research report on Thursday, September 19th. They issued a “buy” rating and a $38.00 price objective on the stock. Bank of America upped their price objective on shares of PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Wells Fargo & Company lifted their target price on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. assumed coverage on shares of PPL in a research note on Friday, October 25th. They set an “overweight” rating and a $37.00 price target on the stock. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, PPL presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

PPL Stock Performance

The stock’s fifty day simple moving average is $32.95 and its 200-day simple moving average is $30.82. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $25.83 billion, a PE ratio of 31.25, a PEG ratio of 2.97 and a beta of 0.81.

PPL (NYSE:PPL) last released its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.10 billion. PPL had a return on equity of 9.20% and a net margin of 9.95%. PPL’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the business posted $0.43 EPS. On average, research analysts predict that PPL Co. will post 1.72 earnings per share for the current fiscal year.

PPL Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be given a $0.2575 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $1.03 annualized dividend and a dividend yield of 2.94%. PPL’s dividend payout ratio is presently 91.96%.

Insider Activity at PPL

In related news, insider John R. Crockett III sold 9,161 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $34.35, for a total value of $314,680.35. Following the sale, the insider now owns 12,434 shares of the company’s stock, valued at approximately $427,107.90. This represents a 42.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.22% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PPL

Hedge funds have recently bought and sold shares of the stock. Fortitude Family Office LLC boosted its stake in shares of PPL by 195.5% during the third quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 516 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of PPL during the 2nd quarter worth about $29,000. Redwood Wealth Management Group LLC purchased a new stake in shares of PPL during the second quarter worth about $29,000. Ashton Thomas Securities LLC acquired a new position in shares of PPL in the third quarter valued at approximately $34,000. Finally, Lynx Investment Advisory purchased a new position in shares of PPL during the second quarter valued at approximately $38,000. Hedge funds and other institutional investors own 76.99% of the company’s stock.

PPL Company Profile

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.