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.
COPYRIGHT VIOLATION WARNING: This piece was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this piece on another domain, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.dispatchtribunal.com/2018/02/12/ppl-ppl-raised-to-buy-at-deutsche-bank.html.
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.
Receive News & Ratings for PPL Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPL and related companies with MarketBeat.com's FREE daily email newsletter.