PPL (NYSE:PPL) Price Target Increased to $37.00 by Analysts at Wells Fargo & Company

PPL (NYSE:PPL) had its price objective lifted by Wells Fargo & Company from $35.00 to $37.00 in a research report released on Monday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

PPL has been the topic of a number of other research reports. Morgan Stanley increased their price objective on PPL from $31.00 to $33.00 and gave the company an overweight rating in a report on Friday, August 23rd. Bank of America increased their price target on shares of PPL from $33.00 to $34.00 and gave the company a buy rating in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, PPL currently has a consensus rating of Moderate Buy and an average price target of $33.36.

PPL Stock Up 0.7 %

Shares of NYSE:PPL opened at $32.68 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 1.12. PPL has a fifty-two week low of $22.20 and a fifty-two week high of $32.82. The stock has a market cap of $24.11 billion, a price-to-earnings ratio of 31.73, a price-to-earnings-growth ratio of 2.73 and a beta of 0.82. The firm’s 50 day moving average price is $30.55 and its 200 day moving average price is $28.75.

PPL (NYSE:PPL) last announced its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.92 billion. PPL had a net margin of 10.17% and a return on equity of 9.26%. The company’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS. As a group, equities research analysts predict that PPL will post 1.72 earnings per share for the current fiscal year.

PPL Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be paid a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Tuesday, September 10th. PPL’s dividend payout ratio is currently 100.00%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Panagora Asset Management Inc. increased its position in PPL by 7.9% in the 4th quarter. Panagora Asset Management Inc. now owns 122,752 shares of the utilities provider’s stock valued at $3,327,000 after acquiring an additional 9,032 shares during the period. Kingsview Wealth Management LLC increased its holdings in shares of PPL by 8.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 33,151 shares of the utilities provider’s stock valued at $898,000 after purchasing an additional 2,525 shares during the period. Independent Advisor Alliance raised its stake in shares of PPL by 6.5% during the fourth quarter. Independent Advisor Alliance now owns 19,427 shares of the utilities provider’s stock worth $526,000 after purchasing an additional 1,190 shares during the last quarter. Kentucky Retirement Systems lifted its holdings in shares of PPL by 4.1% during the fourth quarter. Kentucky Retirement Systems now owns 58,978 shares of the utilities provider’s stock worth $1,598,000 after purchasing an additional 2,348 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its position in PPL by 3.9% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 26,261 shares of the utilities provider’s stock valued at $712,000 after buying an additional 977 shares during the last quarter. 76.99% of the stock is currently 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.