PPL (NYSE:PPL) Rating Increased to Strong-Buy at Citigroup

Citigroup upgraded shares of PPL (NYSE:PPL) from a hold rating to a strong-buy rating in a report released on Monday,Zacks.com reports.

A number of other research analysts have also weighed in on the company. Jefferies Financial Group decreased their target price on PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Barclays upped their price objective on shares of PPL from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 25th. Finally, BMO Capital Markets started coverage on shares of PPL in a research report on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 price target for the company. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PPL currently has a consensus rating of “Moderate Buy” and an average price target of $34.70.

PPL Stock Down 0.8 %

NYSE PPL opened at $34.02 on Monday. PPL has a one year low of $25.93 and a one year high of $35.91. The stock’s 50 day simple moving average is $33.60 and its 200 day simple moving average is $33.05. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.86 and a quick ratio of 0.71. The firm has a market cap of $25.11 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 2.77 and a beta of 0.76.

PPL (NYSE:PPL) last announced its earnings results on Thursday, February 13th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). PPL had a net margin of 10.49% and a return on equity of 8.88%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.09 billion. As a group, sell-side analysts forecast that PPL will post 1.83 earnings per share for the current fiscal year.

PPL Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a $0.2725 dividend. This represents a $1.09 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from PPL’s previous quarterly dividend of $0.26. PPL’s dividend payout ratio is 90.08%.

Insider Activity at PPL

In related news, insider John R. Crockett III sold 1,589 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $33.12, for a total transaction of $52,627.68. Following the sale, the insider now owns 10,845 shares of the company’s stock, valued at $359,186.40. This trade represents a 12.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Tadd J. Henninger sold 6,639 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $32.16, for a total transaction of $213,510.24. Following the sale, the senior vice president now directly owns 11,210 shares of the company’s stock, valued at $360,513.60. The trade was a 37.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,779 shares of company stock worth $386,515. 0.22% of the stock is owned by company insiders.

Institutional Trading of PPL

Several institutional investors and hedge funds have recently bought and sold shares of PPL. Summit Securities Group LLC acquired a new position in shares of PPL in the fourth quarter worth about $26,000. Kentucky Trust Co purchased a new stake in PPL during the 4th quarter valued at about $32,000. Lee Danner & Bass Inc. purchased a new position in PPL during the fourth quarter worth approximately $32,000. Ashton Thomas Securities LLC purchased a new position in PPL during the third quarter worth about $34,000. Finally, Rosenberg Matthew Hamilton raised its position in PPL by 1,092.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 1,114 shares during the period. 76.99% of the stock is currently 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.