UBS Group Forecasts Strong Price Appreciation for PPL (NYSE:PPL) Stock

PPL (NYSE:PPL) had its price objective raised by UBS Group from $35.00 to $36.00 in a research note published on Friday,Benzinga reports. UBS Group currently has a neutral rating on the utilities provider’s stock.

Other research analysts have also issued research reports about the stock. BMO Capital Markets began coverage on shares of PPL in a report on Wednesday, December 11th. They set an “outperform” rating and a $36.00 price target for the company. Morgan Stanley raised their price target on shares of PPL from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup upgraded shares of PPL from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Barclays raised their price objective on shares of PPL from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 25th. Finally, Jefferies Financial Group reduced their price objective on shares of PPL from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, PPL presently has an average rating of “Moderate Buy” and a consensus target price of $35.27.

PPL Stock Down 0.6 %

Shares of NYSE PPL opened at $34.78 on Friday. The company has a 50 day simple moving average of $33.99 and a 200 day simple moving average of $33.19. The firm has a market cap of $25.67 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 2.77 and a beta of 0.76. PPL has a 1 year low of $25.93 and a 1 year high of $35.91. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.86 and a quick ratio of 0.71.

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

PPL Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a $0.2725 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.09 annualized dividend and a yield of 3.13%. This is an increase from PPL’s previous quarterly dividend of $0.26. PPL’s dividend payout ratio (DPR) is presently 90.08%.

Insider Activity at PPL

In related news, insider John R. Crockett III sold 1,589 shares of PPL stock in a transaction on Monday, January 27th. The shares were sold at an average price of $33.12, for a total value of $52,627.68. Following the completion of the sale, the insider now owns 10,845 shares of the company’s stock, valued at approximately $359,186.40. This trade represents a 12.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Tadd J. Henninger sold 1,424 shares of PPL stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $33.48, for a total transaction of $47,675.52. Following the transaction, the senior vice president now directly owns 11,259 shares in the company, valued at $376,951.32. This represents a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,140 shares of company stock valued at $173,005. 0.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On PPL

Hedge funds have recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in PPL during the 4th quarter worth $26,000. Kentucky Trust Co purchased a new position in PPL during the 4th quarter worth $32,000. Lee Danner & Bass Inc. purchased a new position in PPL during the 4th quarter worth $32,000. Rosenberg Matthew Hamilton boosted its holdings in PPL by 1,092.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 1,114 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in PPL by 84.5% during the 4th quarter. Larson Financial Group LLC now owns 1,264 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 579 shares during the last quarter. 76.99% of the stock is owned by hedge funds and other institutional investors.

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.