PPL (PPL) Earns Buy Rating from SunTrust Banks

SunTrust Banks reaffirmed their buy rating on shares of PPL (NYSE:PPL) in a research note issued to investors on Tuesday. SunTrust Banks currently has a $39.00 price target on the utilities provider’s stock.

PPL has been the subject of a number of other reports. Zacks Investment Research cut shares of PPL from a buy rating to a hold rating in a research note on Monday, September 11th. Macquarie lowered shares of PPL from a neutral rating to an underperform rating and set a $30.00 price target for the company. in a research report on Tuesday, December 19th. Guggenheim reissued a hold rating and set a $32.00 price target on shares of PPL in a research report on Wednesday, January 3rd. Canaccord Genuity reissued a buy rating and set a $48.00 price target on shares of PPL in a research report on Thursday, November 30th. Finally, KeyCorp reissued a hold rating on shares of PPL in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $38.72.

PPL (PPL) traded down $0.43 during mid-day trading on Tuesday, reaching $30.90. 6,591,849 shares of the company were exchanged, compared to its average volume of 7,630,200. The firm has a market cap of $21,270.00, a PE ratio of 13.98, a PEG ratio of 1.90 and a beta of 0.48. The company has a quick ratio of 0.48, a current ratio of 0.56 and a debt-to-equity ratio of 1.79. PPL has a one year low of $30.44 and a one year high of $40.20.

PPL (NYSE:PPL) last released its earnings results on Wednesday, November 1st. The utilities provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $2.03 billion. PPL had a net margin of 20.60% and a return on equity of 15.30%. PPL’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the business earned $0.63 EPS. sell-side analysts anticipate that PPL will post 2.18 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th were issued a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 5.11%. The ex-dividend date was Thursday, December 7th. PPL’s dividend payout ratio (DPR) is 71.49%.

Large investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC increased its holdings in shares of PPL by 1.9% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,784,213 shares of the utilities provider’s stock valued at $67,711,000 after purchasing an additional 33,483 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of PPL by 8.4% during the 3rd quarter. California Public Employees Retirement System now owns 1,825,189 shares of the utilities provider’s stock valued at $69,266,000 after purchasing an additional 140,670 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its holdings in shares of PPL by 34.2% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 187,554 shares of the utilities provider’s stock valued at $7,117,000 after purchasing an additional 47,827 shares in the last quarter. KBC Group NV increased its holdings in shares of PPL by 5.0% during the 3rd quarter. KBC Group NV now owns 76,705 shares of the utilities provider’s stock valued at $2,911,000 after purchasing an additional 3,633 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of PPL by 17.4% during the 3rd quarter. New York State Common Retirement Fund now owns 1,741,770 shares of the utilities provider’s stock valued at $66,100,000 after purchasing an additional 258,600 shares in the last quarter. 71.24% of the stock is owned by hedge funds and other institutional investors.

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About PPL

PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. PPL operates through U.K.

Analyst Recommendations for PPL (NYSE:PPL)

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