Today: PPL Corp. (PPL) Lowered by The Zacks Investment Research to “Hold”

Today: PPL Corp. (PPL) Lowered by The Zacks Investment Research to “Hold”

PPL Corp. (NYSE:PPL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

According to Zacks, “PPL Corporation’s diverse asset portfolio and business model allow it to perform in and adapt to different market conditions. PPL Corp.’s capital investment plan primarily focuses on infrastructure construction projects for generation, transmission and distribution. The company projects total capital expenditure of approximately $15.4 billion in the 2016–2020 timeframe. PPL Corp. has reestablished its hedge levels to shield itself from any near-term decline in the GBP. Nevertheless, volatile commodity prices and regulatory risks pose challenges to PPL Corporation’s growth. The price of the company's shares dropped compared with an increase in the broader industry share price in the last twelve months. PPL Corp.’s operations are also subject to service disruptions in form of breakdown of equipment, natural calamities and sudden outages.”

PPL has been the subject of several other reports. Bank of America Corp. cut PPL Corp. from a “buy” rating to a “neutral” rating and set a $32.00 price objective for the company. in a research report on Tuesday, November 22nd. Jefferies Group reaffirmed a “hold” rating and set a $37.00 price objective on shares of PPL Corp. in a research report on Tuesday, October 25th. Guggenheim cut PPL Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 9th. Argus reduced their price objective on PPL Corp. from $45.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, September 9th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and set a $44.00 price objective on shares of PPL Corp. in a research report on Friday, August 5th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $37.71.

Shares of PPL Corp. (NYSE:PPL) traded up 2.61% on Monday, hitting $34.19. The company had a trading volume of 2,020,345 shares. The firm has a market capitalization of $23.24 billion, a P/E ratio of 12.70 and a beta of 0.41. PPL Corp. has a 12-month low of $32.08 and a 12-month high of $39.92. The firm has a 50 day moving average of $33.36 and a 200-day moving average of $35.91.

PPL Corp. (NYSE:PPL) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. The company earned $1.89 billion during the quarter, compared to analysts’ expectations of $2.04 billion. PPL Corp. had a return on equity of 15.66% and a net margin of 24.59%. PPL Corp.’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. On average, equities analysts predict that PPL Corp. will post $2.36 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend is Wednesday, December 7th. PPL Corp.’s payout ratio is 56.30%.

Several institutional investors have recently bought and sold shares of the stock. QCI Asset Management Inc. NY increased its position in PPL Corp. by 1.8% in the second quarter. QCI Asset Management Inc. NY now owns 3,100 shares of the company’s stock valued at $117,000 after buying an additional 55 shares during the last quarter. Smithfield Trust Co. increased its position in PPL Corp. by 25.2% in the third quarter. Smithfield Trust Co. now owns 3,480 shares of the company’s stock valued at $120,000 after buying an additional 700 shares during the last quarter. Kistler Tiffany Companies LLC increased its position in PPL Corp. by 0.3% in the third quarter. Kistler Tiffany Companies LLC now owns 4,054 shares of the company’s stock valued at $140,000 after buying an additional 14 shares during the last quarter. Citizens Financial Group Inc RI increased its position in PPL Corp. by 4.2% in the second quarter. Citizens Financial Group Inc RI now owns 3,823 shares of the company’s stock valued at $145,000 after buying an additional 153 shares during the last quarter. Finally, People s United Financial Inc. increased its position in PPL Corp. by 100.0% in the third quarter. People s United Financial Inc. now owns 4,455 shares of the company’s stock valued at $154,000 after buying an additional 2,227 shares during the last quarter. 69.01% of the stock is currently owned by institutional investors.

PPL Corp. Company Profile

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. It operates through three segments: U.K.

Related posts

Leave a Comment