PPL (NYSE:PPL) Reaches New 12-Month High – Still a Buy?

Shares of PPL Co. (NYSE:PPL) reached a new 52-week high during trading on Monday . The company traded as high as $33.81 and last traded at $33.81, with a volume of 1000 shares changing hands. The stock had previously closed at $33.70.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Morgan Stanley raised their target price on shares of PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Wells Fargo & Company raised their price objective on shares of PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Jefferies Financial Group initiated coverage on shares of PPL in a research note on Thursday, September 19th. They set a “buy” rating and a $38.00 target price on the stock. 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. Finally, Barclays lifted their price target on PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.50.

PPL Stock Up 0.4 %

The company has a debt-to-equity ratio of 1.17, a current ratio of 1.29 and a quick ratio of 1.07. The business has a 50 day simple moving average of $32.60 and a 200 day simple moving average of $30.55. The stock has a market cap of $25.19 billion, a PE ratio of 30.48, a P/E/G ratio of 2.91 and a beta of 0.81.

PPL (NYSE:PPL) last announced its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.10 billion. PPL had a return on equity of 9.20% and a net margin of 9.95%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 EPS. On average, equities research analysts forecast that PPL Co. will post 1.72 EPS for the current fiscal year.

PPL Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were paid a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Tuesday, September 10th. PPL’s payout ratio is presently 91.97%.

Hedge Funds Weigh In On PPL

Hedge funds have recently bought and sold shares of the business. State Street Corp boosted its stake in shares of PPL by 5.0% during the 3rd quarter. State Street Corp now owns 36,459,099 shares of the utilities provider’s stock worth $1,215,363,000 after acquiring an additional 1,720,941 shares in the last quarter. Wellington Management Group LLP lifted its holdings in PPL by 6.2% in the 3rd quarter. Wellington Management Group LLP now owns 35,089,490 shares of the utilities provider’s stock worth $1,160,760,000 after purchasing an additional 2,050,122 shares during the last quarter. Geode Capital Management LLC boosted its position in PPL by 1.2% during the third quarter. Geode Capital Management LLC now owns 17,177,883 shares of the utilities provider’s stock worth $566,275,000 after purchasing an additional 201,417 shares during the period. Massachusetts Financial Services Co. MA boosted its position in PPL by 0.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,512,407 shares of the utilities provider’s stock worth $215,430,000 after purchasing an additional 55,594 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in PPL by 25.3% during the second quarter. Clearbridge Investments LLC now owns 5,890,854 shares of the utilities provider’s stock valued at $162,882,000 after purchasing an additional 1,189,339 shares during the last quarter. 76.99% of the stock is owned by institutional investors and hedge funds.

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.