PPL (NYSE:PPL) Price Target Lowered to $40.00 at JPMorgan Chase & Co.

PPL (NYSE:PPL) had its target price dropped by analysts at JPMorgan Chase & Co. from $43.00 to $40.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 19.64% from the company’s previous close.

Several other equities analysts have also commented on the company. Barclays upped their target price on PPL from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 14th. BTIG Research raised PPL to a “strong-buy” rating in a report on Wednesday, October 22nd. Wells Fargo & Company assumed coverage on shares of PPL in a report on Monday, October 27th. They issued an “overweight” rating and a $43.00 price objective for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of PPL in a research report on Wednesday, October 8th. Finally, Evercore ISI assumed coverage on shares of PPL in a research report on Monday, October 6th. They set an “outperform” rating and a $43.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $40.58.

PPL Trading Up 0.5%

Shares of PPL stock traded up $0.18 on Thursday, reaching $33.44. The company had a trading volume of 2,495,272 shares, compared to its average volume of 5,633,701. The firm’s 50 day moving average price is $36.47 and its two-hundred day moving average price is $35.77. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.66 and a current ratio of 0.77. PPL has a 52-week low of $31.22 and a 52-week high of $38.26. The firm has a market cap of $24.73 billion, a PE ratio of 22.60, a PEG ratio of 2.54 and a beta of 0.69.

PPL (NYSE:PPL) last released its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.02. PPL had a return on equity of 9.08% and a net margin of 12.16%.The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.42 earnings per share. PPL has set its FY 2025 guidance at 1.780-1.840 EPS. Sell-side analysts predict that PPL will post 1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PPL

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PPL. J.Safra Asset Management Corp purchased a new position in PPL during the 3rd quarter worth approximately $28,000. Global Wealth Strategies & Associates acquired a new stake in shares of PPL in the third quarter worth $30,000. Ancora Advisors LLC raised its position in PPL by 8,350.0% during the first quarter. Ancora Advisors LLC now owns 845 shares of the utilities provider’s stock valued at $31,000 after buying an additional 835 shares during the period. Truvestments Capital LLC lifted its stake in PPL by 5,352.9% in the 1st quarter. Truvestments Capital LLC now owns 927 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 910 shares in the last quarter. Finally, Sound Income Strategies LLC grew its stake in PPL by 322.5% during the 3rd quarter. Sound Income Strategies LLC now owns 959 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 732 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.