Jefferies Financial Group Begins Coverage on PPL (NYSE:PPL)

Analysts at Jefferies Financial Group started coverage on shares of PPL (NYSE:PPL) in a note issued to investors on Thursday, MarketBeat reports. The firm set a “buy” rating and a $38.00 price target on the utilities provider’s stock. Jefferies Financial Group’s target price indicates a potential upside of 17.07% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Bank of America lifted their price target on shares of PPL from $33.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Wells Fargo & Company upped their price target on shares of PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Morgan Stanley raised 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. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, PPL has a consensus rating of “Moderate Buy” and a consensus target price of $33.75.

PPL Stock Up 2.1 %

Shares of PPL opened at $32.46 on Thursday. The firm has a 50 day simple moving average of $30.89 and a two-hundred day simple moving average of $28.88. The company has a market cap of $23.95 billion, a P/E ratio of 31.51, a P/E/G ratio of 2.79 and a beta of 0.82. PPL has a one year low of $22.20 and a one year high of $32.82. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.11 and a quick ratio of 0.91.

PPL (NYSE:PPL) last posted its quarterly earnings results on Friday, August 2nd. The utilities provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. PPL had a return on equity of 9.26% and a net margin of 10.17%. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the firm earned $0.29 EPS. PPL’s revenue was up 3.2% on a year-over-year basis. Research analysts forecast that PPL will post 1.72 EPS for the current fiscal year.

Institutional Investors Weigh In On PPL

Several large investors have recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. bought a new stake in PPL during the second quarter valued at $29,000. Redwood Wealth Management Group LLC acquired a new stake in PPL during the second quarter worth approximately $29,000. Lynx Investment Advisory bought a new stake in PPL in the second quarter worth approximately $38,000. Family Firm Inc. bought a new stake in PPL in the second quarter worth approximately $38,000. Finally, EverSource Wealth Advisors LLC lifted its stake in PPL by 46.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,507 shares of the utilities provider’s stock valued at $41,000 after buying an additional 480 shares during the period. 76.99% of the stock is currently owned by institutional investors and hedge funds.

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.