Barclays Lowers PPL (NYSE:PPL) Price Target to $33.00

PPL (NYSE:PPL) had its price objective cut by equities research analysts at Barclays from $34.00 to $33.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price target suggests a potential downside of 1.60% from the company’s previous close.

Several other analysts also recently issued reports on PPL. Citigroup upped their price target on PPL from $31.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. BMO Capital Markets initiated coverage on PPL in a research report on Wednesday, December 11th. They set an “outperform” rating and a $36.00 target price for the company. JPMorgan Chase & Co. initiated coverage on shares of PPL in a research report on Friday, October 25th. They issued an “overweight” rating and a $37.00 price target on the stock. Jefferies Financial Group lowered their target price on shares of PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, December 17th. Finally, Bank of America boosted their target price on shares of PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, PPL presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

PPL Stock Performance

Shares of PPL stock opened at $33.54 on Wednesday. PPL has a 12 month low of $25.35 and a 12 month high of $35.15. The stock has a market cap of $24.75 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 2.68 and a beta of 0.83. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.17. The business has a fifty day simple moving average of $33.07 and a 200-day simple moving average of $31.94.

PPL (NYSE:PPL) last released its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. PPL had a return on equity of 9.20% and a net margin of 9.95%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter last year, the firm earned $0.43 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, sell-side analysts anticipate that PPL will post 1.72 EPS for the current fiscal year.

Insider Activity at PPL

In related news, SVP Tadd J. Henninger sold 6,639 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $32.16, for a total transaction of $213,510.24. Following the completion of the transaction, the senior vice president now owns 11,210 shares in the company, valued at $360,513.60. This trade represents a 37.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John R. Crockett III sold 9,161 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $34.35, for a total transaction of $314,680.35. Following the completion of the sale, the insider now directly owns 12,434 shares in the company, valued at approximately $427,107.90. The trade was a 42.42 % decrease in their position. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PPL

Several large investors have recently made changes to their positions in the company. Fortitude Family Office LLC increased its holdings in PPL by 195.5% in the third quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 516 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in PPL in the 3rd quarter valued at approximately $34,000. Rosenberg Matthew Hamilton boosted its holdings in PPL by 1,092.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 1,114 shares during the last quarter. Covestor Ltd grew its holdings in shares of PPL by 139.2% in the 3rd quarter. Covestor Ltd now owns 1,512 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 880 shares in the last quarter. Finally, McClarren Financial Advisors Inc. increased its position in shares of PPL by 5,759.3% in the third quarter. McClarren Financial Advisors Inc. now owns 1,582 shares of the utilities provider’s stock valued at $52,000 after acquiring an additional 1,555 shares during the last quarter. Institutional investors and hedge funds own 76.99% of the company’s stock.

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.