Jefferies Financial Group Initiates Coverage on PPL (NYSE:PPL)

Equities research analysts at Jefferies Financial Group started coverage on shares of PPL (NYSE:PPL) in a research note issued to investors on Thursday, MarketBeat.com reports. The firm set a “buy” rating and a $38.00 price target on the utilities provider’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 17.07% from the company’s previous close.

Several other brokerages also recently issued reports on PPL. Morgan Stanley raised their target price on shares of PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Bank of America raised their price objective on PPL from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Wells Fargo & Company boosted their target price on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.75.

PPL Stock Performance

PPL opened at $32.46 on Thursday. The business’s 50-day simple moving average is $30.89 and its 200 day simple moving average is $28.88. PPL has a 52-week low of $22.20 and a 52-week high of $32.82. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.91 and a current ratio of 1.11. The firm has a market capitalization of $23.95 billion, a PE ratio of 31.51, 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. PPL had a return on equity of 9.26% and a net margin of 10.17%. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the prior year, the business posted $0.29 EPS. The business’s revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts expect that PPL will post 1.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PPL

Hedge funds have recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of PPL during the 2nd quarter worth approximately $29,000. Redwood Wealth Management Group LLC bought a new position in PPL during the 2nd quarter worth $29,000. Lynx Investment Advisory acquired a new position in PPL in the 2nd quarter valued at $38,000. Family Firm Inc. bought a new stake in shares of PPL during the 2nd quarter valued at $38,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of PPL by 46.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,507 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 480 shares during the period. 76.99% of the stock is owned by institutional investors.

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.