PPL (NYSE:PPL) Hits New 12-Month High - Here's Why

Key Points

• PPL Corporation's stock reached a new 52-week high at $37.10, closing at $37.01, with a trading volume of 567,909 shares.
• The company has received upgraded ratings from several analysts, with Guggenheim raising its price target to $40.00 and Barclays moving to a strong-buy rating.
• PPL reported earnings of $0.32 per share for the last quarter, missing expectations, but increased its revenue to $2.03 billion, a 7.7% year-over-year increase.

PPL Corporation (NYSE:PPL - Get Free Report)'s share price hit a new 52-week high on Wednesday . The stock traded as high as $37.10 and last traded at $37.01, with a volume of 567909 shares changing hands. The stock had previously closed at $36.90.

Analysts Set New Price Targets

A number of research firms recently commented on PPL. Guggenheim lifted their price target on PPL from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Wall Street Zen raised PPL from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Morgan Stanley dropped their price target on PPL from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. Finally, Barclays raised shares of PPL from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 7th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, PPL presently has a consensus rating of "Buy" and an average price target of $36.70.

PPL Price Performance

The firm has a market capitalization of $27.29 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 2.60 and a beta of 0.64. The stock's 50 day moving average price is $34.81 and its two-hundred day moving average price is $34.79. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 0.49.

PPL (NYSE:PPL - Get Free Report) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.05). PPL had a net margin of 11.22% and a return on equity of 8.81%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the previous year, the business posted $0.38 EPS. The firm's quarterly revenue was up 7.7% on a year-over-year basis. On average, equities research analysts anticipate that PPL Corporation will post 1.83 EPS for the current year.

PPL Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th were given a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, June 10th. PPL's dividend payout ratio is 81.34%.

Insider Transactions at PPL

In other news, COO David J. Bonenberger sold 2,165 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $35.86, for a total transaction of $77,636.90. Following the completion of the sale, the chief operating officer owned 45,560 shares of the company's stock, valued at approximately $1,633,781.60. This trade represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.22% of the stock is owned by company insiders.

Institutional Trading of PPL

Several hedge funds have recently modified their holdings of the company. Pinnacle Bancorp Inc. grew its holdings in PPL by 141.0% during the 1st quarter. Pinnacle Bancorp Inc. now owns 723 shares of the utilities provider's stock worth $26,000 after acquiring an additional 423 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in shares of PPL by 94.3% during the first 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 in the last quarter. Ancora Advisors LLC lifted its position 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 acquiring an additional 835 shares in the last quarter. TruNorth Capital Management LLC bought a new stake in PPL in the 1st quarter valued at $32,000. Finally, Truvestments Capital LLC increased its stake in PPL by 5,352.9% in the 1st quarter. Truvestments Capital LLC now owns 927 shares of the utilities provider's stock valued at $33,000 after buying an additional 910 shares during the last quarter. 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.

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