PPL (NYSE:PPL) Price Target Raised to $36.00

PPL (NYSE:PPL) had its price target lifted by Barclays from $33.00 to $36.00 in a report issued on Tuesday,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

A number of other brokerages also recently weighed in on PPL. BMO Capital Markets started coverage on shares of PPL in a report on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 price target for the company. Bank of America increased their price objective on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Citigroup lifted their price target on shares of PPL from $31.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Finally, Jefferies Financial Group lowered their target price on shares of PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, December 17th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, PPL presently has an average rating of “Moderate Buy” and an average target price of $34.27.

PPL Stock Down 1.0 %

PPL stock opened at $34.53 on Tuesday. The firm’s 50-day moving average is $33.23 and its two-hundred day moving average is $32.84. The company has a market capitalization of $25.50 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 2.77 and a beta of 0.83. PPL has a 52 week low of $25.87 and a 52 week high of $35.15. The company has a current ratio of 0.86, a quick ratio of 0.71 and a debt-to-equity ratio of 1.13.

PPL (NYSE:PPL) last announced its earnings results on Thursday, February 13th. The utilities provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.09 billion. PPL had a return on equity of 8.88% and a net margin of 10.49%. On average, analysts forecast that PPL will post 1.83 earnings per share for the current fiscal year.

PPL Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $0.2725 dividend. This is a boost from PPL’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.09 annualized dividend and a yield of 3.16%. PPL’s dividend payout ratio is 90.08%.

Insiders Place Their Bets

In related news, SVP Tadd J. Henninger sold 1,424 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $33.48, for a total value of $47,675.52. Following the completion of the transaction, the senior vice president now owns 11,259 shares of the company’s stock, valued at $376,951.32. This represents a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO David J. Bonenberger sold 981 shares of PPL stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $33.48, for a total value of $32,843.88. Following the sale, the chief operating officer now directly owns 45,414 shares in the company, valued at $1,520,460.72. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,633 shares of company stock worth $346,657. 0.22% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PPL

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fortitude Family Office LLC lifted its holdings 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 period. Summit Securities Group LLC acquired a new stake in shares of PPL during the 4th quarter worth about $26,000. Kentucky Trust Co acquired a new position in PPL in the fourth quarter valued at about $32,000. Lee Danner & Bass Inc. acquired a new position in PPL in the fourth quarter valued at about $32,000. Finally, Ashton Thomas Securities LLC bought a new stake in PPL during the third quarter worth about $34,000. 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.