PPL Corporation (NYSE:PPL - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The stock traded as high as $36.81 and last traded at $36.71, with a volume of 2473759 shares changing hands. The stock had previously closed at $36.20.
Analyst Ratings Changes
PPL has been the subject of a number of analyst reports. Wall Street Zen raised shares of PPL from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Barclays raised PPL from a "hold" rating to a "strong-buy" rating in a report on Monday, July 7th. Guggenheim increased their price objective on PPL from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Morgan Stanley lowered their target price on PPL from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $36.70.
Check Out Our Latest Stock Analysis on PPL
PPL Trading Up 0.0%
The company has a current ratio of 0.81, a quick ratio of 0.68 and a debt-to-equity ratio of 1.11. The firm has a 50-day moving average price of $34.45 and a 200-day moving average price of $34.50. The company has a market capitalization of $27.05 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 2.62 and a beta of 0.64.
PPL (NYSE:PPL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.53 by $0.07. PPL had a net margin of 11.49% and a return on equity of 9.14%. The firm had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.15 billion. During the same period in the previous year, the business earned $0.54 earnings per share. PPL's revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, sell-side analysts predict that PPL Corporation will post 1.83 EPS for the current year.
PPL Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th were issued a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Tuesday, June 10th. PPL's payout ratio is 80.74%.
Insider Activity
In other news, COO David J. Bonenberger sold 1,767 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $34.98, for a total transaction of $61,809.66. Following the completion of the sale, the chief operating officer owned 45,485 shares in the company, valued at approximately $1,591,065.30. This represents a 3.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.28% of the company's stock.
Hedge Funds Weigh In On PPL
A number of hedge funds and other institutional investors have recently modified their holdings of PPL. Venturi Wealth Management LLC grew its holdings in shares of PPL by 5.6% during the second quarter. Venturi Wealth Management LLC now owns 12,141 shares of the utilities provider's stock valued at $411,000 after buying an additional 646 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of PPL by 11.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 13,590 shares of the utilities provider's stock valued at $461,000 after acquiring an additional 1,437 shares in the last quarter. First National Bank & Trust Co. of Newtown increased its stake in shares of PPL by 7.6% in the second quarter. First National Bank & Trust Co. of Newtown now owns 18,218 shares of the utilities provider's stock worth $617,000 after acquiring an additional 1,279 shares during the last quarter. Old Port Advisors acquired a new position in shares of PPL in the second quarter worth $708,000. Finally, GAMMA Investing LLC raised its holdings in shares of PPL by 4.2% during the second quarter. GAMMA Investing LLC now owns 23,187 shares of the utilities provider's stock worth $786,000 after acquiring an additional 939 shares in the last quarter. Institutional investors and hedge funds own 76.99% of the company's stock.
About PPL
(
Get Free Report)
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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