JPMorgan Chase & Co. Lowers PPL (NYSE:PPL) Price Target to $42.00

by · The Cerbat Gem

PPL (NYSE:PPL – Get Free Report) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $43.00 to $42.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 17.31% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. Jefferies Financial Group raised their price objective on shares of PPL from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Mizuho lifted their target price on PPL from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, March 16th. Wells Fargo & Company reiterated an “overweight” rating on shares of PPL in a research report on Tuesday, April 21st. Barclays cut their target price on PPL from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Morgan Stanley cut their target price on PPL from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.83.

Check Out Our Latest Stock Report on PPL

PPL Stock Up 0.2%

PPL stock traded up $0.05 during midday trading on Thursday, reaching $35.80. The company’s stock had a trading volume of 1,941,792 shares, compared to its average volume of 8,561,368. PPL has a fifty-two week low of $33.17 and a fifty-two week high of $40.10. The company has a quick ratio of 0.88, a current ratio of 1.00 and a debt-to-equity ratio of 1.27. The company has a market cap of $26.94 billion, a P/E ratio of 21.83, a P/E/G ratio of 2.48 and a beta of 0.60. The business has a 50-day simple moving average of $38.11 and a 200-day simple moving average of $36.73.

PPL (NYSE:PPL – Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The utilities provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. PPL had a return on equity of 9.41% and a net margin of 13.09%.The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same period last year, the firm earned $0.60 earnings per share. PPL’s quarterly revenue was up 10.8% on a year-over-year basis. On average, research analysts expect that PPL will post 1.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PPL

Institutional investors have recently bought and sold shares of the company. J.Safra Asset Management Corp acquired a new position in PPL in the 3rd quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in PPL by 293.8% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,071 shares of the utilities provider’s stock valued at $37,000 after buying an additional 799 shares during the period. Lodestone Wealth Management LLC acquired a new position in PPL in the 4th quarter valued at $48,000. Aventura Private Wealth LLC acquired a new position in PPL in the 4th quarter valued at $49,000. Finally, Quent Capital LLC acquired a new position in PPL during the 3rd quarter worth approximately $54,000. 76.99% of the stock is owned by institutional investors and hedge funds.

About PPL

(Get Free Report)

PPL Corporation is an energy company that owns and operates electric transmission and distribution infrastructure and provides related customer services. The company’s core business centers on delivering electricity to residential, commercial and industrial customers through regulated utility operations, maintaining grid reliability, responding to outages and managing customer billing and account services.

PPL’s activities include construction and maintenance of distribution and transmission lines, meter and grid management, and programs to support energy efficiency and the interconnection of distributed resources.

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