PPL (NYSE:PPL) PT Lowered to $31.00

PPL (NYSE:PPL) had its price objective lowered by Morgan Stanley from $32.00 to $31.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

A number of other analysts also recently weighed in on the stock. Wells Fargo & Company boosted their target price on shares of PPL from $30.00 to $32.00 and gave the stock an overweight rating in a report on Thursday, May 2nd. Argus upgraded PPL from a hold rating to a buy rating and set a $30.00 price objective on the stock in a research report on Friday, March 8th. Royal Bank of Canada lifted their target price on PPL from $30.00 to $31.00 and gave the stock an outperform rating in a report on Thursday, April 11th. Barclays increased their price target on PPL from $27.00 to $28.00 and gave the company an equal weight rating in a report on Thursday, March 14th. Finally, StockNews.com raised shares of PPL from a sell rating to a hold rating in a research note on Friday, May 10th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, PPL presently has an average rating of Moderate Buy and a consensus price target of $32.36.

PPL Price Performance

NYSE:PPL opened at $27.69 on Monday. The business’s 50-day moving average is $28.33 and its 200 day moving average is $27.29. PPL has a 12 month low of $22.20 and a 12 month high of $29.89. The company has a market capitalization of $20.43 billion, a P/E ratio of 26.88, a P/E/G ratio of 2.38 and a beta of 0.82. The company has a current ratio of 1.28, a quick ratio of 1.08 and a debt-to-equity ratio of 1.12.

PPL (NYSE:PPL) last issued its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. PPL had a return on equity of 8.80% and a net margin of 9.29%. The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the prior year, the firm earned $0.48 EPS. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, equities research analysts forecast that PPL will post 1.71 earnings per share for the current fiscal year.

PPL Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be given a $0.2575 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.03 annualized dividend and a yield of 3.72%. PPL’s dividend payout ratio (DPR) is 100.00%.

Hedge Funds Weigh In On PPL

Institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP purchased a new position in PPL during the 4th quarter worth $570,789,000. Lazard Asset Management LLC raised its holdings in shares of PPL by 13,891.2% in the third quarter. Lazard Asset Management LLC now owns 11,724,495 shares of the utilities provider’s stock valued at $276,229,000 after acquiring an additional 11,640,696 shares in the last quarter. Franklin Resources Inc. lifted its stake in PPL by 11.2% in the fourth quarter. Franklin Resources Inc. now owns 10,396,322 shares of the utilities provider’s stock worth $281,740,000 after acquiring an additional 1,045,852 shares during the period. Cohen & Steers Inc. grew its holdings in PPL by 4.0% during the 4th quarter. Cohen & Steers Inc. now owns 8,952,615 shares of the utilities provider’s stock worth $242,616,000 after acquiring an additional 340,686 shares in the last quarter. Finally, Northern Trust Corp increased its position in PPL by 0.7% during the 3rd quarter. Northern Trust Corp now owns 6,850,818 shares of the utilities provider’s stock valued at $161,405,000 after purchasing an additional 45,548 shares during the period. 76.99% of the stock is 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.