Analysts Set PPL Corporation (NYSE:PPL) Target Price at $36.80

Shares of PPL Corporation (NYSE:PPL - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the ten brokerages that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $36.70.

PPL has been the topic of several research analyst reports. Barclays decreased their target price on shares of PPL from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Morgan Stanley decreased their price objective on shares of PPL from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. Guggenheim increased their target price on shares of PPL from $38.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Wall Street Zen upgraded shares of PPL from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Finally, UBS Group upped their price target on PPL from $35.00 to $36.00 and gave the stock a "neutral" rating in a report on Friday, March 21st.

PPL Stock Performance

Shares of PPL stock traded down $0.33 during mid-day trading on Friday, hitting $33.67. The stock had a trading volume of 1,714,926 shares, compared to its average volume of 4,970,153. The firm has a market cap of $24.89 billion, a PE ratio of 24.94, a PEG ratio of 2.50 and a beta of 0.64. The company's 50-day simple moving average is $34.67 and its 200-day simple moving average is $34.15. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.68. PPL has a fifty-two week low of $27.24 and a fifty-two week high of $36.70.

PPL (NYSE:PPL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.07. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.15 billion. PPL had a net margin of 11.49% and a return on equity of 9.14%. The firm's revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.54 earnings per share. Sell-side analysts anticipate that PPL will post 1.83 earnings per share for the current year.

PPL Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th were issued a $0.2725 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.24%. PPL's dividend payout ratio (DPR) is presently 80.74%.

Insider Activity

In related news, COO David J. Bonenberger sold 1,767 shares of PPL stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $34.98, for a total value of $61,809.66. Following the transaction, the chief operating officer owned 45,485 shares in the company, valued at approximately $1,591,065.30. This trade represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PPL

Several hedge funds and other institutional investors have recently modified their holdings of PPL. Summit Securities Group LLC acquired a new position in PPL during the fourth quarter valued at approximately $26,000. Pinnacle Bancorp Inc. lifted its holdings in shares of PPL by 141.0% during the 1st quarter. Pinnacle Bancorp Inc. now owns 723 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 423 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in PPL by 94.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 818 shares of the utilities provider's stock worth $30,000 after purchasing an additional 397 shares during the period. Ancora Advisors LLC increased its holdings in PPL by 8,350.0% in the 1st quarter. Ancora Advisors LLC now owns 845 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 835 shares in the last quarter. Finally, Lee Danner & Bass Inc. purchased a new position in PPL in the fourth quarter valued at about $32,000. 76.99% of the stock is owned by institutional investors and hedge funds.

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.