PPL (NYSE:PPL) Reaches New 52-Week High – Here’s What Happened

PPL Co. (NYSE:PPL) hit a new 52-week high during mid-day trading on Saturday . The company traded as high as $35.97 and last traded at $35.70, with a volume of 10031838 shares changing hands. The stock had previously closed at $34.98.

Analyst Ratings Changes

Several research firms recently commented on PPL. Barclays lifted their target price 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. Morgan Stanley boosted their price objective on shares of PPL from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Citigroup raised PPL from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. BMO Capital Markets initiated coverage on PPL in a research report on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 price target on the stock. Finally, Jefferies Financial Group lowered their price objective on PPL from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.27.

PPL Stock Performance

The stock has a market capitalization of $26.36 billion, a price-to-earnings ratio of 29.51, a price-to-earnings-growth ratio of 2.77 and a beta of 0.76. The company has a 50 day simple moving average of $34.23 and a 200-day simple moving average of $33.28. The company has a quick ratio of 0.71, a current ratio of 0.86 and a debt-to-equity ratio of 1.13.

PPL (NYSE:PPL) last released 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). The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.09 billion. PPL had a net margin of 10.49% and a return on equity of 8.88%. As a group, equities research analysts expect that PPL Co. will post 1.83 EPS for the current fiscal year.

PPL Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from PPL’s previous quarterly dividend of $0.26. This represents a $1.09 annualized dividend and a dividend yield of 3.05%. PPL’s dividend payout ratio (DPR) is currently 90.08%.

Insider Activity at PPL

In other PPL news, insider Christine M. Martin sold 1,146 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $34.78, for a total value of $39,857.88. Following the transaction, the insider now directly owns 37,167 shares of the company’s stock, valued at approximately $1,292,668.26. This trade represents a 2.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John R. Crockett III sold 1,589 shares of the business’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 directly owns 10,845 shares of the company’s stock, valued at approximately $359,186.40. The trade was a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,140 shares of company stock valued at $173,005 in the last three months. Corporate insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On PPL

A number of hedge funds have recently added to or reduced their stakes in PPL. Summit Securities Group LLC bought a new position in shares of PPL in the fourth quarter valued at approximately $26,000. Kentucky Trust Co bought a new position in PPL during the 4th quarter valued at $32,000. Lee Danner & Bass Inc. bought a new position in PPL during the 4th quarter valued at $32,000. Rosenberg Matthew Hamilton boosted its holdings in PPL by 1,092.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 1,114 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of PPL by 84.5% in the 4th quarter. Larson Financial Group LLC now owns 1,264 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 579 shares in the last quarter. Institutional investors and hedge funds own 76.99% of the company’s stock.

PPL Company Profile

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.