BMO Capital Markets Initiates Coverage on PPL (NYSE:PPL)

BMO Capital Markets began coverage on shares of PPL (NYSE:PPL) in a report published on Wednesday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $36.00 price objective on the utilities provider’s stock.

A number of other research analysts also recently weighed in on the company. Barclays upped their target price on PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Bank of America increased their price objective on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Wells Fargo & Company boosted their target price on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Jefferies Financial Group initiated coverage on shares of PPL in a research note on Thursday, September 19th. They issued a “buy” rating and a $38.00 price target for the company. Finally, Morgan Stanley boosted their price objective on shares of PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.09.

PPL Price Performance

PPL opened at $32.29 on Wednesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.07 and a current ratio of 1.29. The stock has a market capitalization of $23.83 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 2.82 and a beta of 0.82. The stock’s 50 day moving average price is $33.11 and its 200-day moving average price is $31.14. PPL has a 52-week low of $25.35 and a 52-week high of $35.15.

PPL (NYSE:PPL) last issued its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.10 billion. PPL had a net margin of 9.95% and a return on equity of 9.20%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 EPS. On average, equities research analysts predict that PPL will post 1.72 EPS for the current year.

PPL Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be issued a $0.2575 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $1.03 dividend on an annualized basis and a yield of 3.19%. PPL’s payout ratio is currently 91.96%.

Insider Transactions at PPL

In other PPL news, insider John R. Crockett III sold 9,161 shares of PPL stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $34.35, for a total value of $314,680.35. Following the completion of the sale, the insider now owns 12,434 shares of the company’s stock, valued at approximately $427,107.90. The trade was a 42.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On PPL

A number of institutional investors and hedge funds have recently modified their holdings of PPL. Fortitude Family Office LLC lifted its holdings in PPL by 195.5% in the third quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 516 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of PPL during the 3rd quarter valued at about $34,000. Whittier Trust Co. of Nevada Inc. bought a new position in shares of PPL in the 2nd quarter worth approximately $29,000. Redwood Wealth Management Group LLC purchased a new position in shares of PPL in the second quarter worth approximately $29,000. Finally, Family Firm Inc. bought a new stake in PPL during the second quarter valued at approximately $38,000. 76.99% of the stock is currently owned by hedge funds and other 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.