PPL (NYSE:PPL) Price Target Raised to $36.00

PPL (NYSE:PPL - Free Report) had its price target increased by UBS Group from $35.00 to $36.00 in a report released on Friday,Benzinga reports. They currently have a neutral rating on the utilities provider's stock.

Several other research analysts have also issued reports on the company. Morgan Stanley increased their price target on PPL from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Thursday. Citigroup upgraded PPL from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Jefferies Financial Group decreased their price target on shares of PPL from $39.00 to $38.00 and set a "buy" rating for the company in a research note on Tuesday, December 17th. Barclays upped their target price on shares of PPL from $33.00 to $36.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 25th. Finally, BMO Capital Markets started coverage on PPL in a research note on Wednesday, December 11th. They set an "outperform" rating and a $36.00 price target for the company. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $35.27.

PPL Trading Up 0.3 %

PPL stock traded up $0.12 during mid-day trading on Friday, reaching $34.88. The company's stock had a trading volume of 1,926,028 shares, compared to its average volume of 4,802,091. The company has a market cap of $25.75 billion, a price-to-earnings ratio of 28.82, a price-to-earnings-growth ratio of 2.77 and a beta of 0.76. PPL has a 12 month low of $25.93 and a 12 month high of $35.91. The business's 50 day moving average price is $33.99 and its 200 day moving average price is $33.20. The company has a current ratio of 0.86, a quick ratio of 0.71 and a debt-to-equity ratio of 1.13.

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PPL (NYSE:PPL - Get Free Report) last released its earnings results on Thursday, February 13th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). PPL had a net margin of 10.49% and a return on equity of 8.88%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.09 billion. On average, equities research analysts predict that PPL will post 1.83 EPS for the current year.

PPL Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a $0.2725 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.09 annualized dividend and a yield of 3.12%. This is a boost from PPL's previous quarterly dividend of $0.26. PPL's payout ratio is currently 90.08%.

Insider Buying and Selling at PPL

In related news, COO David J. Bonenberger sold 981 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $33.48, for a total transaction of $32,843.88. Following the completion of the transaction, the chief operating officer now owns 45,414 shares in the company, valued at approximately $1,520,460.72. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christine M. Martin sold 1,146 shares of PPL stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $34.78, for a total transaction of $39,857.88. Following the completion of the sale, the insider now directly owns 37,167 shares in the company, valued at approximately $1,292,668.26. This represents a 2.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,140 shares of company stock worth $173,005 in the last quarter. 0.22% of the stock is currently owned by company insiders.

Institutional Trading of PPL

Several hedge funds and other institutional investors have recently modified their holdings of PPL. GSA Capital Partners LLP purchased a new position in shares of PPL during the 3rd quarter valued at about $273,000. OneDigital Investment Advisors LLC grew its position in PPL by 12.8% during the third quarter. OneDigital Investment Advisors LLC now owns 8,231 shares of the utilities provider's stock valued at $272,000 after acquiring an additional 936 shares during the last quarter. Empowered Funds LLC raised its stake in shares of PPL by 8.7% during the third quarter. Empowered Funds LLC now owns 12,407 shares of the utilities provider's stock worth $410,000 after acquiring an additional 988 shares in the last quarter. Prospera Financial Services Inc lifted its holdings in shares of PPL by 13.9% in the 3rd quarter. Prospera Financial Services Inc now owns 34,674 shares of the utilities provider's stock worth $1,147,000 after acquiring an additional 4,239 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of PPL in the 3rd quarter valued at $526,000. Institutional investors 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.