PPL (NYSE:PPL) Sets New 52-Week High - Here's What Happened

Key Points

• PPL Corporation (NYSE:PPL) shares reached a new 52-week high at $37.38 on Wednesday, closing slightly lower at $37.19 with a trading volume of 373,527 shares.
• Analysts have mixed opinions on PPL, with target price upgrades from Guggenheim ($40) and Barclays (strong-buy), while Morgan Stanley lowered their target to $37.
• The company reported $0.32 earnings per share for the last quarter, missing estimates, despite a revenue increase of 7.7% year-over-year, and guidance for FY 2025 EPS set between 1.750-1.870.

PPL Corporation (NYSE:PPL - Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as $37.38 and last traded at $37.19, with a volume of 373527 shares traded. The stock had previously closed at $36.73.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Guggenheim upped their target price on shares of PPL from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Wall Street Zen raised shares of PPL from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Morgan Stanley lowered their target price 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. Finally, Barclays raised shares of PPL from a "hold" rating to a "strong-buy" rating in a report on Monday, July 7th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $36.70.

PPL Trading Up 1.1%

The business's fifty day simple moving average is $35.09 and its 200 day simple moving average is $34.91. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 1.07. The stock has a market cap of $27.46 billion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 2.60 and a beta of 0.64.

PPL (NYSE:PPL - Get Free Report) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.05). The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.99 billion. PPL had a net margin of 11.22% and a return on equity of 8.81%. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. PPL has set its FY 2025 guidance at 1.750-1.870 EPS. As a group, analysts expect that PPL Corporation will post 1.83 EPS for the current year.

Insider Buying and Selling at PPL

In related news, COO David J. Bonenberger sold 2,165 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $35.86, for a total value of $77,636.90. Following the completion of the transaction, the chief operating officer directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.22% of the company's stock.

Hedge Funds Weigh In On PPL

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. boosted its position in PPL by 141.0% during the first quarter. Pinnacle Bancorp Inc. now owns 723 shares of the utilities provider's stock worth $26,000 after purchasing an additional 423 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in 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 during the period. Ancora Advisors LLC boosted its position in shares of PPL by 8,350.0% in the first quarter. Ancora Advisors LLC now owns 845 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 835 shares during the period. TruNorth Capital Management LLC bought a new stake in shares of PPL in the first quarter valued at about $32,000. Finally, Truvestments Capital LLC boosted its position in shares of PPL by 5,352.9% in the first quarter. Truvestments Capital LLC now owns 927 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 910 shares during the period. 76.99% of the stock is owned by institutional investors.

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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