PPL (PPL) Upgraded to Buy at Deutsche Bank

Deutsche Bank upgraded shares of PPL (NYSE:PPL) from a hold rating to a buy rating in a research report sent to investors on Thursday, January 18th, MarketBeat Ratings reports. The brokerage currently has $36.00 price target on the utilities provider’s stock, down from their previous price target of $39.00.

Several other research firms also recently commented on PPL. Canaccord Genuity reaffirmed a buy rating and issued a $48.00 target price on shares of PPL in a research report on Thursday, November 30th. Zacks Investment Research cut PPL from a hold rating to a sell rating in a research note on Friday, October 13th. SunTrust Banks reiterated a buy rating and issued a $42.00 price target on shares of PPL in a research note on Tuesday, December 26th. Macquarie cut PPL from a neutral rating to an underperform rating and set a $30.00 price target for the company. in a research note on Tuesday, December 19th. Finally, KeyCorp reiterated a hold rating on shares of PPL in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $37.95.

PPL (PPL) traded up $0.40 during trading on Thursday, hitting $30.46. The stock had a trading volume of 6,192,598 shares, compared to its average volume of 6,510,000. PPL has a 52 week low of $29.20 and a 52 week high of $40.20. The company has a quick ratio of 0.48, a current ratio of 0.56 and a debt-to-equity ratio of 1.79. The firm has a market capitalization of $20,970.00, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 1.85 and a beta of 0.46.

In other news, insider Gregory N. Dudkin sold 9,320 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $31.67, for a total value of $295,164.40. Following the completion of the transaction, the insider now directly owns 25,940 shares in the company, valued at approximately $821,519.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Victor A. Staffieri sold 19,524 shares of the stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $31.60, for a total value of $616,958.40. Following the completion of the transaction, the chairman now owns 29,084 shares of the company’s stock, valued at $919,054.40. The disclosure for this sale can be found here. Insiders have sold 44,163 shares of company stock valued at $1,395,587 over the last 90 days. Corporate insiders own 0.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Parametric Portfolio Associates LLC lifted its position in PPL by 1.9% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,784,213 shares of the utilities provider’s stock valued at $67,711,000 after acquiring an additional 33,483 shares in the last quarter. California Public Employees Retirement System grew its position in shares of PPL by 8.4% during the 3rd quarter. California Public Employees Retirement System now owns 1,825,189 shares of the utilities provider’s stock valued at $69,266,000 after purchasing an additional 140,670 shares in the last quarter. Cornerstone Capital Management Holdings LLC. grew its position in shares of PPL by 34.2% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 187,554 shares of the utilities provider’s stock valued at $7,117,000 after purchasing an additional 47,827 shares in the last quarter. KBC Group NV grew its position in shares of PPL by 5.0% during the 3rd quarter. KBC Group NV now owns 76,705 shares of the utilities provider’s stock valued at $2,911,000 after purchasing an additional 3,633 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of PPL by 17.4% during the 3rd quarter. New York State Common Retirement Fund now owns 1,741,770 shares of the utilities provider’s stock valued at $66,100,000 after purchasing an additional 258,600 shares in the last quarter. Institutional investors own 70.50% of the company’s stock.

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About PPL

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. PPL operates through U.K.

Analyst Recommendations for PPL (NYSE:PPL)

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