PPL’s (PPL) “Buy” Rating Reiterated at SunTrust Banks

SunTrust Banks restated their buy rating on shares of PPL (NYSE:PPL) in a research note issued to investors on Tuesday, January 9th. They currently have a $39.00 price objective on the utilities provider’s stock.

Several other brokerages have also recently weighed in on PPL. Zacks Investment Research cut PPL from a buy rating to a hold rating in a report on Monday, September 11th. Canaccord Genuity restated a buy rating and set a $48.00 target price on shares of PPL in a report on Thursday, November 30th. Macquarie cut PPL from a neutral rating to an underperform rating and set a $30.00 price objective on the stock. in a report on Tuesday, December 19th. KeyCorp reiterated a hold rating on shares of PPL in a report on Friday, October 20th. Finally, Guggenheim reiterated a hold rating and issued a $32.00 price objective on shares of PPL in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $38.50.

Shares of PPL (PPL) traded up $0.45 during trading on Tuesday, hitting $31.87. The stock had a trading volume of 6,990,000 shares, compared to its average volume of 7,220,000. The firm has a market cap of $21,940.00, a PE ratio of 14.42, a P/E/G ratio of 1.94 and a beta of 0.48. PPL has a fifty-two week low of $30.44 and a fifty-two week high of $40.20. The company has a current ratio of 0.56, a quick ratio of 0.48 and a debt-to-equity ratio of 1.79.

PPL (NYSE:PPL) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.03. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $2.03 billion. PPL had a return on equity of 15.30% and a net margin of 20.60%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 EPS. research analysts forecast that PPL will post 2.18 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 8th were issued a $0.395 dividend. This represents a $1.58 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend was Thursday, December 7th. PPL’s dividend payout ratio is presently 71.49%.

In other PPL news, Chairman Victor A. Staffieri sold 19,524 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $31.60, for a total value of $616,958.40. Following the sale, the chairman now owns 29,084 shares of the company’s stock, valued at $919,054.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Joanne H. Raphael sold 5,045 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $31.60, for a total value of $159,422.00. Following the completion of the sale, the senior vice president now directly owns 24,080 shares in the company, valued at approximately $760,928. The disclosure for this sale can be found here. Insiders sold 34,843 shares of company stock worth $1,100,422 over the last quarter. 0.40% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wilbanks Smith & Thomas Asset Management LLC raised its position in PPL by 2.1% in the second quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 10,085 shares of the utilities provider’s stock valued at $390,000 after purchasing an additional 205 shares during the period. D.A. Davidson & CO. raised its position in PPL by 4.2% in the second quarter. D.A. Davidson & CO. now owns 8,554 shares of the utilities provider’s stock valued at $330,000 after purchasing an additional 344 shares during the period. Bank of Hawaii raised its position in PPL by 0.5% in the second quarter. Bank of Hawaii now owns 95,908 shares of the utilities provider’s stock valued at $3,708,000 after purchasing an additional 511 shares during the period. Laurel Wealth Advisors Inc. raised its position in PPL by 2.5% in the second quarter. Laurel Wealth Advisors Inc. now owns 22,820 shares of the utilities provider’s stock valued at $882,000 after purchasing an additional 556 shares during the period. Finally, Ropes Wealth Advisors LLC raised its position in PPL by 6.2% in the second quarter. Ropes Wealth Advisors LLC now owns 10,251 shares of the utilities provider’s stock valued at $396,000 after purchasing an additional 601 shares during the period. 71.39% of the stock is currently owned by institutional investors.

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PPL Company Profile

PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. PPL operates through U.K.

Analyst Recommendations for PPL (NYSE:PPL)

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