Analysts Set PPL Co. (NYSE:PPL) Target Price at $34.00

Shares of PPL Co. (NYSE:PPL) have earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $34.00.

A number of research analysts have recently issued reports on PPL shares. Jefferies Financial Group dropped their price target 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. Citigroup lifted their price objective on PPL from $31.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Bank of America upped their price objective on shares of PPL from $34.00 to $35.00 and gave the company a “buy” rating in a report on Monday, November 4th. Barclays reduced their target price on PPL from $34.00 to $33.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. assumed coverage on PPL in a research note on Friday, October 25th. They set an “overweight” rating and a $37.00 price target for the company.

PPL Trading Up 1.0 %

Shares of PPL stock opened at $33.94 on Thursday. The stock has a 50-day moving average of $32.89 and a 200-day moving average of $32.34. PPL has a 1-year low of $25.35 and a 1-year high of $35.15. The stock has a market cap of $25.04 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 2.71 and a beta of 0.83. The company has a current ratio of 1.29, a quick ratio of 1.07 and a debt-to-equity ratio of 1.17.

PPL Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th were issued a $0.2575 dividend. This represents a $1.03 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Tuesday, December 10th. PPL’s dividend payout ratio (DPR) is currently 91.97%.

Insider Activity at PPL

In related news, SVP Tadd J. Henninger sold 1,424 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $33.48, for a total value of $47,675.52. Following the sale, the senior vice president now directly owns 11,259 shares of the company’s stock, valued at $376,951.32. This trade represents a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO David J. Bonenberger sold 981 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 $32,843.88. Following the sale, the chief operating officer now directly owns 45,414 shares of the company’s stock, valued at $1,520,460.72. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,794 shares of company stock worth $661,338. 0.22% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PPL

Institutional investors have recently modified their holdings of the company. State Street Corp boosted its position in PPL by 5.0% during the third quarter. State Street Corp now owns 36,459,099 shares of the utilities provider’s stock valued at $1,215,363,000 after buying an additional 1,720,941 shares during the period. Wellington Management Group LLP raised its stake in PPL by 6.2% in the third quarter. Wellington Management Group LLP now owns 35,089,490 shares of the utilities provider’s stock worth $1,160,760,000 after buying an additional 2,050,122 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of PPL by 12.0% in the 3rd quarter. Franklin Resources Inc. now owns 34,758,947 shares of the utilities provider’s stock valued at $1,115,824,000 after purchasing an additional 3,731,412 shares during the period. Geode Capital Management LLC boosted its holdings in shares of PPL by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 17,177,883 shares of the utilities provider’s stock valued at $566,275,000 after buying an additional 201,417 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in PPL by 0.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,512,407 shares of the utilities provider’s stock worth $215,430,000 after acquiring an additional 55,594 shares in the last quarter. 76.99% of the stock is currently owned by 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.