PPL (NYSE:PPL) Trading 2.2% Higher – Here’s What Happened

PPL Co. (NYSE:PPL) shares rose 2.2% on Friday . The stock traded as high as $35.69 and last traded at $35.75. Approximately 813,998 shares changed hands during trading, a decline of 82% from the average daily volume of 4,458,177 shares. The stock had previously closed at $34.98.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PPL shares. UBS Group increased their target price on shares of PPL from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Friday, March 21st. BMO Capital Markets began coverage on PPL in a research note on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 price objective for the company. Barclays upped their target price on PPL from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, February 25th. Jefferies Financial Group decreased their price objective on shares of PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, December 17th. Finally, Morgan Stanley increased their price objective on shares of PPL from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.27.

PPL Stock Up 2.1 %

The firm has a market cap of $26.36 billion, a PE ratio of 29.51, a P/E/G ratio of 2.77 and a beta of 0.76. The company has a quick ratio of 0.71, a current ratio of 0.86 and a debt-to-equity ratio of 1.13. The firm’s 50 day moving average is $34.23 and its 200-day moving average is $33.29.

PPL (NYSE:PPL) last posted its quarterly earnings data 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). The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.09 billion. PPL had a return on equity of 8.88% and a net margin of 10.49%. As a group, equities research analysts expect that PPL Co. will post 1.83 earnings per share for the current fiscal year.

PPL Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.2725 per share. This is a positive change from PPL’s previous quarterly dividend of $0.26. This represents a $1.09 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Monday, March 10th. PPL’s dividend payout ratio is presently 90.08%.

Insider Buying and Selling

In related news, COO David J. Bonenberger sold 981 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $33.48, for a total value of $32,843.88. Following the transaction, the chief operating officer now directly owns 45,414 shares of the company’s stock, valued at approximately $1,520,460.72. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christine M. Martin sold 1,146 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $34.78, for a total value of $39,857.88. Following the sale, the insider now directly owns 37,167 shares of the company’s stock, valued at approximately $1,292,668.26. This trade represents a 2.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,140 shares of company stock valued at $173,005. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On PPL

Hedge funds and other institutional investors have recently modified their holdings of the company. Boston Partners raised its holdings in PPL by 8,266.9% in the fourth quarter. Boston Partners now owns 9,518,141 shares of the utilities provider’s stock valued at $309,060,000 after buying an additional 9,404,382 shares during the period. Norges Bank purchased a new position in shares of PPL in the 4th quarter valued at $228,509,000. Raymond James Financial Inc. acquired a new position in shares of PPL during the 4th quarter valued at $147,480,000. Franklin Resources Inc. boosted its position in PPL by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 34,758,947 shares of the utilities provider’s stock worth $1,115,824,000 after purchasing an additional 3,731,412 shares during the period. Finally, Invesco Ltd. increased its holdings in PPL by 14.0% in the 4th quarter. Invesco Ltd. now owns 27,465,566 shares of the utilities provider’s stock valued at $891,532,000 after purchasing an additional 3,380,745 shares in the last quarter. 76.99% of the stock is owned by institutional investors and hedge funds.

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.