PPL (NYSE:PPL) Sets New 52-Week High at $32.56

PPL Co. (NYSE:PPL - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $32.56 and last traded at $32.56, with a volume of 1154 shares changing hands. The stock had previously closed at $32.46.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PPL. Bank of America raised their price target on shares of PPL from $33.00 to $34.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Morgan Stanley upped their price target on shares of PPL from $31.00 to $33.00 and gave the stock an "overweight" rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company increased their price objective on PPL from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Monday. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $33.36.

PPL Price Performance

The firm has a market capitalization of $24.11 billion, a price-to-earnings ratio of 31.73, a PEG ratio of 2.73 and a beta of 0.82. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.11 and a quick ratio of 0.91. The stock's 50 day moving average price is $30.55 and its two-hundred day moving average price is $28.75.

PPL (NYSE:PPL - Get Free Report) last issued its quarterly earnings results on Friday, August 2nd. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.05. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.92 billion. PPL had a return on equity of 9.26% and a net margin of 10.17%. The firm's revenue was up 3.2% compared to the same quarter last year. During the same period last year, the business posted $0.29 earnings per share. On average, equities research analysts anticipate that PPL Co. will post 1.72 EPS for the current year.

PPL Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be issued a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Tuesday, September 10th. PPL's dividend payout ratio (DPR) is presently 100.00%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of PPL during the second quarter valued at approximately $29,000. Redwood Wealth Management Group LLC bought a new stake in PPL in the 2nd quarter valued at $29,000. Lynx Investment Advisory acquired a new position in shares of PPL in the 2nd quarter valued at $38,000. Family Firm Inc. bought a new position in shares of PPL during the 2nd quarter worth about $38,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of PPL by 46.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,507 shares of the utilities provider's stock valued at $41,000 after acquiring an additional 480 shares in 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.