Morgan Stanley Trims PPL (NYSE:PPL) Target Price to $31.00

PPL (NYSE:PPL) had its target price lowered by Morgan Stanley from $32.00 to $31.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

Several other research analysts also recently commented on PPL. Bank of America lifted their target price on PPL from $29.00 to $30.00 and gave the stock a buy rating in a report on Thursday, April 11th. Royal Bank of Canada raised their price target on shares of PPL from $30.00 to $31.00 and gave the stock an outperform rating in a report on Thursday, April 11th. StockNews.com upgraded shares of PPL from a sell rating to a hold rating in a research report on Friday, May 10th. Mizuho increased their price objective on shares of PPL from $27.00 to $28.00 and gave the stock a neutral rating in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company boosted their target price on shares of PPL from $30.00 to $32.00 and gave the company an overweight rating in a report on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $32.36.

PPL Trading Down 0.4 %

NYSE PPL opened at $27.69 on Monday. The business’s fifty day moving average is $28.33 and its 200 day moving average is $27.29. PPL has a twelve month low of $22.20 and a twelve month high of $29.89. The company has a market cap of $20.43 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 2.38 and a beta of 0.82. The company has a quick ratio of 1.08, a current ratio of 1.28 and a debt-to-equity ratio of 1.12.

PPL (NYSE:PPL) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.39 billion. PPL had a net margin of 9.29% and a return on equity of 8.80%. The firm’s revenue was down 4.6% compared to the same quarter last year. During the same period last year, the company earned $0.48 EPS. As a group, sell-side analysts expect that PPL will post 1.71 EPS for the current fiscal year.

PPL Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 10th will be given a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Monday, June 10th. PPL’s payout ratio is 100.00%.

Institutional Trading of PPL

Several hedge funds have recently bought and sold shares of PPL. Philadelphia Trust Co. raised its position in shares of PPL by 2.4% during the 4th quarter. Philadelphia Trust Co. now owns 16,851 shares of the utilities provider’s stock valued at $457,000 after buying an additional 400 shares in the last quarter. Mutual Advisors LLC lifted its stake in PPL by 0.9% during the third quarter. Mutual Advisors LLC now owns 46,833 shares of the utilities provider’s stock worth $1,103,000 after purchasing an additional 415 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. boosted its holdings in shares of PPL by 0.5% in the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 77,512 shares of the utilities provider’s stock worth $2,087,000 after purchasing an additional 418 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its position in shares of PPL by 5.4% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 8,192 shares of the utilities provider’s stock valued at $222,000 after purchasing an additional 421 shares during the last quarter. Finally, Wealth Alliance raised its holdings in shares of PPL by 2.3% during the 4th quarter. Wealth Alliance now owns 19,792 shares of the utilities provider’s stock valued at $536,000 after buying an additional 450 shares in the last quarter. Institutional investors and hedge funds own 76.99% of the company’s stock.

About PPL

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.