PPL (NYSE:PPL) Coverage Initiated at BMO Capital Markets

BMO Capital Markets began coverage on shares of PPL (NYSE:PPL) in a report issued on Wednesday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $36.00 price target on the utilities provider’s stock. BMO Capital Markets’ target price indicates a potential upside of 11.49% from the company’s previous close.

A number of other equities analysts have also recently weighed in on PPL. Jefferies Financial Group initiated coverage on shares of PPL in a research report on Thursday, September 19th. They set a “buy” rating and a $38.00 price objective for the company. Barclays raised their price target on shares of PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Bank of America increased their target price on PPL from $34.00 to $35.00 and gave the company a “buy” rating in a report on Monday, November 4th. Wells Fargo & Company lifted their price target on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. began coverage on PPL in a research note on Friday, October 25th. They issued an “overweight” rating and a $37.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.09.

PPL Price Performance

NYSE:PPL opened at $32.29 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.17. PPL has a 52 week low of $25.35 and a 52 week high of $35.15. The stock’s 50-day moving average price is $33.13 and its 200-day moving average price is $31.11. 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.

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

Insider Buying and Selling

In related news, insider John R. Crockett III sold 9,161 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $34.35, for a total value of $314,680.35. Following the completion of the transaction, the insider now directly owns 12,434 shares in the company, valued at approximately $427,107.90. This represents a 42.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On PPL

Several large investors have recently modified their holdings of PPL. Great Valley Advisor Group Inc. lifted its position in PPL by 1.7% in the third quarter. Great Valley Advisor Group Inc. now owns 17,696 shares of the utilities provider’s stock valued at $585,000 after buying an additional 301 shares during the last quarter. Leelyn Smith LLC lifted its holdings in shares of PPL by 0.4% in the 2nd quarter. Leelyn Smith LLC now owns 79,887 shares of the utilities provider’s stock worth $2,209,000 after acquiring an additional 331 shares during the last quarter. Cobblestone Capital Advisors LLC NY lifted its holdings in shares of PPL by 2.4% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 14,848 shares of the utilities provider’s stock worth $491,000 after acquiring an additional 348 shares during the last quarter. TFC Financial Management Inc. boosted its position in shares of PPL by 15.7% during the 2nd quarter. TFC Financial Management Inc. now owns 2,611 shares of the utilities provider’s stock worth $72,000 after purchasing an additional 355 shares during the period. Finally, Centennial Wealth Advisory LLC increased its holdings in PPL by 3.4% in the 2nd quarter. Centennial Wealth Advisory LLC now owns 11,250 shares of the utilities provider’s stock valued at $311,000 after purchasing an additional 366 shares during the last quarter. Institutional investors and hedge funds own 76.99% of the company’s stock.

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.