PPL (PPL) Lowered to In-Line at Evercore ISI

Evercore ISI lowered shares of PPL (NYSE:PPL) from an outperform rating to an in-line rating in a research note released on Thursday morning, Marketbeat.com reports.

A number of other analysts also recently commented on the stock. Bank of America downgraded shares of PPL from a neutral rating to an underperform rating and cut their price objective for the company from $29.00 to $28.00 in a report on Monday, January 14th. Zacks Investment Research upgraded shares of PPL from a sell rating to a hold rating in a report on Friday, January 11th. Desjardins reiterated an average rating and issued a $52.00 price objective on shares of PPL in a report on Monday, January 7th. Finally, ValuEngine upgraded shares of PPL from a sell rating to a hold rating in a report on Wednesday, November 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $34.44.

PPL opened at $31.29 on Thursday. PPL has a twelve month low of $25.30 and a twelve month high of $32.46. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.58 and a quick ratio of 0.51. The stock has a market cap of $22.54 billion, a P/E ratio of 13.91, a P/E/G ratio of 2.56 and a beta of 0.55.

In other PPL news, Chairman Paul W. Thompson sold 4,573 shares of the firm’s stock in a transaction that occurred on Thursday, December 27th. The shares were sold at an average price of $28.25, for a total value of $129,187.25. Following the completion of the transaction, the chairman now owns 7,419 shares of the company’s stock, valued at approximately $209,586.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joanne H. Raphael sold 22,410 shares of the firm’s stock in a transaction that occurred on Friday, December 7th. The shares were sold at an average price of $31.00, for a total transaction of $694,710.00. Following the completion of the transaction, the senior vice president now directly owns 39,209 shares of the company’s stock, valued at approximately $1,215,479. The disclosure for this sale can be found here. Insiders sold a total of 46,623 shares of company stock valued at $1,403,738 in the last three months. 0.38% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its position in PPL by 5.9% in the 4th quarter. BlackRock Inc. now owns 62,237,939 shares of the utilities provider’s stock valued at $1,763,201,000 after buying an additional 3,475,992 shares during the period. FMR LLC raised its holdings in shares of PPL by 3.1% in the 3rd quarter. FMR LLC now owns 48,751,387 shares of the utilities provider’s stock valued at $1,426,465,000 after purchasing an additional 1,474,816 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of PPL by 58.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 17,289,874 shares of the utilities provider’s stock valued at $505,902,000 after purchasing an additional 6,361,091 shares in the last quarter. Federated Investors Inc. PA raised its holdings in shares of PPL by 1.1% in the 3rd quarter. Federated Investors Inc. PA now owns 14,829,100 shares of the utilities provider’s stock valued at $433,899,000 after purchasing an additional 156,763 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of PPL by 5.3% in the 3rd quarter. Legal & General Group Plc now owns 6,919,757 shares of the utilities provider’s stock valued at $202,394,000 after purchasing an additional 348,807 shares in the last quarter. 76.08% of the stock is owned by institutional investors.

About PPL

PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates in three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves 411,000 electric and 326,000 natural gas customers in Louisville and adjacent areas in Kentucky; 525,000 customers in central, southeastern, and western Kentucky; and approximately 28,000 customers in 5 counties in southwestern Virginia, and 3 customers in Tennessee.

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