PPL (NYSE:PPL) Shares Cross Above 200-Day Moving Average – Here’s Why

Shares of PPL Co. (NYSE:PPL) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $31.50 and traded as high as $32.59. PPL shares last traded at $32.46, with a volume of 3,592,613 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Jefferies Financial Group dropped their target price on shares of PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Citigroup raised their target price on shares of PPL from $31.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Bank of America upped their target price on PPL from $34.00 to $35.00 and gave the company a “buy” rating in a report on Monday, November 4th. BMO Capital Markets started coverage on PPL in a research report on Wednesday, December 11th. They set an “outperform” rating and a $36.00 price objective for the company. Finally, Wells Fargo & Company increased their target price on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, PPL presently has an average rating of “Moderate Buy” and a consensus target price of $34.09.

PPL Stock Performance

The stock has a market cap of $23.86 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 2.78 and a beta of 0.82. The company’s 50 day simple moving average is $33.12 and its 200 day simple moving average is $31.51. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.07 and a current ratio of 1.29.

PPL (NYSE:PPL) last posted its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. PPL had a net margin of 9.95% and a return on equity of 9.20%. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter last year, the business earned $0.43 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts anticipate that PPL Co. will post 1.72 earnings per share for the current year.

PPL Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th were paid a $0.2575 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $1.03 annualized dividend and a dividend yield of 3.19%. PPL’s dividend payout ratio is currently 91.96%.

Insider Buying and Selling

In other news, SVP Tadd J. Henninger sold 6,639 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $32.16, for a total transaction of $213,510.24. Following the sale, the senior vice president now directly owns 11,210 shares of the company’s stock, valued at $360,513.60. The trade was a 37.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John R. Crockett III sold 9,161 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $34.35, for a total value of $314,680.35. Following the completion of the transaction, the insider now owns 12,434 shares of the company’s stock, valued at $427,107.90. This trade represents a 42.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On PPL

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of PPL by 5.0% in the third quarter. State Street Corp now owns 36,459,099 shares of the utilities provider’s stock valued at $1,215,363,000 after purchasing an additional 1,720,941 shares in the last quarter. Wellington Management Group LLP lifted its stake in PPL by 6.2% in the 3rd quarter. Wellington Management Group LLP now owns 35,089,490 shares of the utilities provider’s stock worth $1,160,760,000 after acquiring an additional 2,050,122 shares in the last quarter. Franklin Resources Inc. boosted its position in PPL by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 34,758,947 shares of the utilities provider’s stock worth $1,115,824,000 after acquiring an additional 3,731,412 shares during the period. Geode Capital Management LLC grew its stake in PPL by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 17,177,883 shares of the utilities provider’s stock valued at $566,275,000 after acquiring an additional 201,417 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of PPL by 0.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,512,407 shares of the utilities provider’s stock valued at $215,430,000 after purchasing an additional 55,594 shares during the period. 76.99% of the stock is currently owned by hedge funds and other institutional investors.

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.