PPL (NYSE:PPL) Coverage Initiated at JPMorgan Chase & Co.

Equities research analysts at JPMorgan Chase & Co. assumed coverage on shares of PPL (NYSE:PPL) in a research note issued on Friday, Briefing.com reports. The brokerage set an “overweight” rating and a $37.00 price target on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 12.56% from the company’s previous close.

PPL has been the topic of several other reports. Morgan Stanley boosted their target price on shares of PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Wells Fargo & Company lifted their price target on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Barclays upped their price target on PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a report on Monday. Jefferies Financial Group began coverage on PPL in a report on Thursday, September 19th. They set a “buy” rating and a $38.00 price objective for the company. Finally, Bank of America upped their target price on PPL from $33.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, PPL presently has an average rating of “Moderate Buy” and a consensus price target of $35.40.

PPL Trading Down 0.8 %

NYSE:PPL opened at $32.87 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 1.12. The stock’s 50 day simple moving average is $32.20 and its 200-day simple moving average is $29.77. PPL has a 12-month low of $23.99 and a 12-month high of $33.38. The firm has a market cap of $24.25 billion, a P/E ratio of 28.83, a PEG ratio of 2.79 and a beta of 0.82.

PPL (NYSE:PPL) last announced its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.92 billion. PPL had a net margin of 10.17% and a return on equity of 9.26%. PPL’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 EPS. Equities analysts anticipate that PPL will post 1.72 EPS for the current year.

Institutional Trading of PPL

A number of hedge funds have recently added to or reduced their stakes in PPL. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of PPL during the 2nd quarter worth about $29,000. Redwood Wealth Management Group LLC acquired a new position in shares of PPL in the 2nd quarter valued at $29,000. Lynx Investment Advisory purchased a new stake in shares of PPL during the 2nd quarter valued at $38,000. Family Firm Inc. acquired a new stake in shares of PPL during the 2nd quarter worth $38,000. Finally, Central Pacific Bank Trust Division purchased a new position in shares of PPL in the 1st quarter worth $42,000. 76.99% of the stock is owned by institutional investors and hedge funds.

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.