Citigroup Forecasts Strong Price Appreciation for PPL (NYSE:PPL) Stock

PPL (NYSE:PPL) had its price target lifted by stock analysts at Citigroup from $31.00 to $36.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. Citigroup’s target price would suggest a potential upside of 11.49% from the stock’s current price.

A number of other research firms have also weighed in on PPL. BMO Capital Markets initiated coverage on shares of PPL in a research report on Wednesday. They set an “outperform” rating and a $36.00 price target on the stock. Jefferies Financial Group assumed coverage on shares of PPL in a research report on Thursday, September 19th. They set a “buy” rating and a $38.00 price target on the stock. Wells Fargo & Company lifted their target price on shares of PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Barclays lifted their target price on shares of PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. initiated coverage on shares of PPL in a research note on Friday, October 25th. They set an “overweight” rating and a $37.00 target price on the stock. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.09.

PPL Price Performance

PPL stock opened at $32.29 on Thursday. The firm has a market cap of $23.83 billion, a PE ratio of 28.83, a P/E/G ratio of 2.82 and a beta of 0.82. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.07 and a current ratio of 1.29. The firm’s fifty day moving average is $33.11 and its 200 day moving average is $31.14. PPL has a one year low of $25.35 and a one year high of $35.15.

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

Insider Activity at PPL

In related news, insider John R. Crockett III sold 9,161 shares of PPL stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $34.35, for a total value of $314,680.35. Following the completion of the transaction, the insider now owns 12,434 shares in the company, valued at approximately $427,107.90. The trade was a 42.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. grew its holdings in shares of PPL by 12.0% in the third quarter. Franklin Resources Inc. now owns 34,758,947 shares of the utilities provider’s stock valued at $1,115,824,000 after purchasing an additional 3,731,412 shares in the last quarter. Tidal Investments LLC grew its holdings in PPL by 11.9% during the 3rd quarter. Tidal Investments LLC now owns 16,114 shares of the utilities provider’s stock worth $533,000 after acquiring an additional 1,710 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in PPL by 32.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 41,169 shares of the utilities provider’s stock worth $1,362,000 after acquiring an additional 10,043 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in PPL by 85.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 111,288 shares of the utilities provider’s stock worth $3,834,000 after acquiring an additional 51,366 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co acquired a new position in PPL during the 3rd quarter worth approximately $225,000. Institutional investors and hedge funds own 76.99% of the company’s stock.

About PPL

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.