UBS Group Raises PPL (NYSE:PPL) Price Target to $31.00

PPL (NYSE:PPL) had its price objective increased by UBS Group from $30.00 to $31.00 in a report published on Tuesday morning, BenzingaRatingsTable reports. They currently have a buy rating on the utilities provider’s stock.

A number of other brokerages have also recently commented on PPL. Bank of America lifted their price target on PPL from $26.00 to $27.00 and gave the stock a neutral rating in a research note on Friday, June 12th. Cfra cut their price objective on PPL from $55.00 to $44.00 and set a buy rating on the stock in a research report on Tuesday, May 12th. Wells Fargo & Co lowered PPL from an overweight rating to an equal weight rating in a research report on Friday, May 8th. JPMorgan Chase & Co. lifted their price objective on PPL from $37.00 to $39.00 and gave the stock an overweight rating in a research report on Thursday, May 14th. Finally, Seaport Global Securities upgraded PPL from a sell rating to a neutral rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $35.72.

PPL stock traded down $0.10 during trading hours on Tuesday, reaching $29.02. The company had a trading volume of 133,716 shares, compared to its average volume of 5,945,187. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.56 and a quick ratio of 0.50. The company has a 50-day moving average price of $26.06 and a 200 day moving average price of $27.82. The firm has a market cap of $21.89 billion, a price-to-earnings ratio of 11.84 and a beta of 0.73. PPL has a 12-month low of $18.12 and a 12-month high of $36.83.

PPL (NYSE:PPL) last announced its quarterly earnings results on Monday, August 10th. The utilities provider reported $0.55 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.55. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.89 billion. PPL had a return on equity of 14.46% and a net margin of 23.68%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 EPS. As a group, research analysts expect that PPL will post 2.42 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rothschild Investment Corp IL boosted its position in shares of PPL by 0.8% during the first quarter. Rothschild Investment Corp IL now owns 52,300 shares of the utilities provider’s stock valued at $1,291,000 after purchasing an additional 400 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in PPL by 1.2% in the second quarter. Louisiana State Employees Retirement System now owns 33,100 shares of the utilities provider’s stock worth $855,000 after acquiring an additional 400 shares in the last quarter. Beacon Investment Advisory Services Inc. boosted its holdings in PPL by 3.6% in the first quarter. Beacon Investment Advisory Services Inc. now owns 11,810 shares of the utilities provider’s stock worth $291,000 after acquiring an additional 407 shares in the last quarter. Mid Atlantic Financial Management Inc. ADV boosted its holdings in PPL by 3.5% in the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 12,361 shares of the utilities provider’s stock worth $305,000 after acquiring an additional 422 shares in the last quarter. Finally, Good Life Advisors LLC boosted its holdings in PPL by 2.9% in the second quarter. Good Life Advisors LLC now owns 15,059 shares of the utilities provider’s stock worth $392,000 after acquiring an additional 422 shares in the last quarter. Institutional investors own 66.56% of the company’s stock.

About PPL

PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 414,000 electric and 328,000 natural gas customers in Louisville and adjacent areas in Kentucky; 527,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.

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Analyst Recommendations for PPL (NYSE:PPL)

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