Trade Report: Today, PPL Corp. (PPL) Lowered by Bank of America Corp.

Today, PPL Corp. (PPL) Lowered by Bank of America Corp.

Bank of America Corp. lowered shares of PPL Corp. (NYSE:PPL) from a buy rating to a neutral rating in a research report released on Tuesday. They currently have $32.00 price target on the stock.

PPL has been the topic of a number of other research reports. Jefferies Group restated a hold rating and issued a $37.00 target price on shares of PPL Corp. in a research note on Tuesday, October 25th. Guggenheim lowered shares of PPL Corp. from a buy rating to a neutral rating in a research note on Tuesday, August 9th. Argus cut their target price on shares of PPL Corp. from $45.00 to $41.00 and set a buy rating on the stock in a research note on Friday, September 9th. Credit Suisse Group AG restated a hold rating and issued a $44.00 target price on shares of PPL Corp. in a research note on Friday, August 5th. Finally, Wolfe Research upgraded shares of PPL Corp. from a market perform rating to an outperform rating in a research note on Wednesday, September 14th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $37.77.

Shares of PPL Corp. (NYSE:PPL) opened at 32.81 on Tuesday. The stock has a market cap of $22.30 billion, a price-to-earnings ratio of 12.19 and a beta of 0.41. PPL Corp. has a one year low of $32.08 and a one year high of $39.92. The firm has a 50-day moving average price of $33.32 and a 200-day moving average price of $35.95.

PPL Corp. (NYSE:PPL) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. PPL Corp. had a net margin of 24.59% and a return on equity of 15.66%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the previous year, the business posted $0.51 EPS. The firm’s revenue was up .6% compared to the same quarter last year. Analysts anticipate that PPL Corp. will post $2.36 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 9th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend is Wednesday, December 7th. PPL Corp.’s dividend payout ratio (DPR) is 56.30%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Trust N.A. boosted its position in PPL Corp. by 4.4% in the second quarter. Raymond James Trust N.A. now owns 49,098 shares of the company’s stock valued at $1,854,000 after buying an additional 2,048 shares during the period. Cullinan Associates Inc. boosted its position in PPL Corp. by 26.7% in the second quarter. Cullinan Associates Inc. now owns 97,720 shares of the company’s stock valued at $3,689,000 after buying an additional 20,570 shares during the period. Kistler Tiffany Companies LLC boosted its position in PPL Corp. by 97.2% in the second quarter. Kistler Tiffany Companies LLC now owns 4,040 shares of the company’s stock valued at $153,000 after buying an additional 1,991 shares during the period. Fulton Bank N.A. boosted its position in PPL Corp. by 6.8% in the second quarter. Fulton Bank N.A. now owns 103,269 shares of the company’s stock valued at $3,899,000 after buying an additional 6,544 shares during the period. Finally, Boothbay Fund Management LLC bought a new position in PPL Corp. during the first quarter valued at about $395,000. Hedge funds and other institutional investors own 68.25% of the company’s stock.

About PPL Corp.

Related posts

Leave a Comment