PPL Corporation (NYSE:PPL) updated its FY17 earnings guidance on Wednesday. The company provided EPS guidance of $2.05-2.25 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.16.
A number of equities research analysts have weighed in on the company. Barclays PLC set a $37.00 price objective on PPL Corporation and gave the company a hold rating in a report on Friday, January 20th. Goldman Sachs Group, Inc. (The) lowered PPL Corporation from a neutral rating to a sell rating and decreased their price target for the stock from $34.00 to $33.00 in a research note on Tuesday, January 17th. RBC Capital Markets reissued a hold rating and set a $37.00 price target on shares of PPL Corporation in a research note on Wednesday, January 4th. Zacks Investment Research lowered PPL Corporation from a buy rating to a hold rating in a research note on Tuesday, January 3rd. Finally, Argus reissued a buy rating and set a $39.00 price target (up previously from $2.00) on shares of PPL Corporation in a research note on Tuesday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $37.15.
Shares of PPL Corporation (NYSE:PPL) traded up 1.18% on Wednesday, reaching $35.25. The company’s stock had a trading volume of 711,636 shares. The stock has a market capitalization of $23.96 billion, a PE ratio of 13.09 and a beta of 0.40. PPL Corporation has a 1-year low of $32.08 and a 1-year high of $39.92. The stock has a 50-day moving average of $34.33 and a 200 day moving average of $34.53.
PPL Corporation (NYSE:PPL) last posted its quarterly earnings data on Wednesday, February 1st. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.08. The business earned $1.83 billion during the quarter, compared to analysts’ expectations of $2.06 billion. PPL Corporation had a net margin of 24.59% and a return on equity of 15.66%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $0.43 earnings per share. On average, equities analysts forecast that PPL Corporation will post $2.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Friday, March 10th will be issued a $0.395 dividend. This is a boost from PPL Corporation’s previous quarterly dividend of $0.38. This represents a $1.58 annualized dividend and a dividend yield of 4.54%. PPL Corporation’s dividend payout ratio (DPR) is 56.30%.
In related news, SVP Joanne H. Raphael sold 5,734 shares of the firm’s stock in a transaction that occurred on Tuesday, January 24th. The shares were sold at an average price of $34.36, for a total transaction of $197,020.24. Following the completion of the sale, the senior vice president now directly owns 25,424 shares in the company, valued at $873,568.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gregory N. Dudkin sold 10,231 shares of the firm’s stock in a transaction that occurred on Tuesday, January 24th. The stock was sold at an average price of $34.57, for a total transaction of $353,685.67. Following the sale, the insider now owns 33,065 shares of the company’s stock, valued at $1,143,057.05. The disclosure for this sale can be found here. Insiders sold 83,498 shares of company stock valued at $2,885,322 over the last quarter. Insiders own 0.42% of the company’s stock.
A number of hedge funds have recently modified their holdings of PPL. Massachusetts Financial Services Co. MA boosted its stake in shares of PPL Corporation by 0.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 11,763,029 shares of the company’s stock worth $444,055,000 after buying an additional 29,877 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of PPL Corporation by 1.6% in the second quarter. Franklin Resources Inc. now owns 6,777,772 shares of the company’s stock worth $255,861,000 after buying an additional 105,930 shares during the last quarter. Janus Capital Management LLC boosted its stake in shares of PPL Corporation by 69.9% in the second quarter. Janus Capital Management LLC now owns 3,628,802 shares of the company’s stock worth $136,987,000 after buying an additional 1,492,593 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of PPL Corporation by 3.0% in the second quarter. TIAA CREF Investment Management LLC now owns 3,407,834 shares of the company’s stock worth $128,646,000 after buying an additional 99,652 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in shares of PPL Corporation by 7.9% in the second quarter. Raymond James & Associates now owns 2,441,696 shares of the company’s stock worth $92,174,000 after buying an additional 179,507 shares during the last quarter. Hedge funds and other institutional investors own 70.15% of the company’s stock.
About PPL Corporation
PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. It operates through three segments: U.K.