PPL Corporation (NYSE:PPL) shares traded 1.29% higher at $29.11 on Wall Street last session.
PPL stock price is now 9.02% away from the 50-day moving average and 4.19% away from the 200-day moving average. The market capitalization of the company currently stands at $21.11B.
With the price target maintained at $28.50, Seaport Research Partners recently Upgraded its rating from Neutral to Buy for PPL Corporation (NYSE: PPL). On August 15, 2022, BofA Securities Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $29 to quote $33, while ‘Evercore ISI’ rates the stock as ‘Outperform’.
In other news, Bergstein Joseph P Jr, EVP and CFO sold 20,645 shares of the company’s stock on Aug 26. The stock was sold for $627,814 at an average price of $30.41. Upon completion of the transaction, the EVP and CFO now directly owns 31,469 shares in the company, valued at $0.92 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 12, President and CEO Sorgi Vincent sold 27,600 shares of the business’s stock. A total of $828,000 was realized by selling the stock at an average price of $30.00. This leaves the insider owning 111,462 shares of the company worth $3.24 million. Insiders disposed of 167,874 shares of company stock worth roughly $4.89 million over the past 1 year. A total of 0.11% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PPL stock. A new stake in PPL Corporation shares was purchased by CEREDEX VALUE ADVISORS LLC during the first quarter worth $119,157,000. CLEARBRIDGE INVESTMENTS LTD invested $67,783,000 in shares of PPL during the first quarter. In the first quarter, MIZUHO MARKETS AMERICAS LLC acquired a new stake in PPL Corporation valued at approximately $66,371,000. BALYASNY ASSET MANAGEMENT LLC acquired a new stake in PPL for approximately $43,411,000. JENNISON ASSOCIATES LLC purchased a new stake in PPL valued at around $36,334,000 in the second quarter. In total, there are 1,054 active investors with 72.90% ownership of the company’s stock.
PPL Corporation (NYSE: PPL) opened at $28.66 on Wednesday. During the past 12 months, PPL Corporation has had a low of $23.47 and a high of $30.99. As of last week, the company has a debt-to-equity ratio of 0.99, a current ratio of 0.80, and a quick ratio of 0.70. The fifty day moving average price for PPL is $26.69 and a two-hundred day moving average price translates $27.94 for the stock.
The latest earnings results from PPL Corporation (NYSE: PPL) was released for Jun, 2022. According to the Utilities – Regulated Electric Company, earnings per share came in at $0.3, inline with analysts’ expectations of $0.3. This compares to $0.27 EPS in the same period last year. The net profit margin was 9.90% and return on equity was 5.10% for PPL. The company reported revenue of $2.13 billion for the quarter, compared to $1.51 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 41.14 percent. For the current quarter, analysts expect PPL to generate $1.93B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/03/2023. Investors who held shares on 12/09/2022 were paid a $0.225 dividend. On an annualized basis, this represents a $0.90 dividend and a 3.09% percent yield. There was an ex-dividend date of 12/08/2022 for this dividend. In terms of dividend payout ratio, PPL is presently at 132.20%.
PPL Corporation(PPL) Company Profile
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through two segments: Kentucky Regulated and Pennsylvania Regulated. It serves approximately 429,000 electric and 333,000 natural gas customers in Louisville and adjacent areas in Kentucky; 538,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in five counties in southwestern Virginia. The company also provides electric services to approximately 1.4 million customers in Pennsylvania; and generates electricity from coal, gas, hydro, and solar sources in Kentucky; and sells wholesale electricity to two municipalities in Kentucky. PPL Corporation was founded in 1920 and is headquartered in Allentown, Pennsylvania.