PPL Hits New 1-Year High at $34.66 (PPL)
PPL (NYSE:PPL) shares hit a new 52-week high during trading on Wednesday , StockRatingsNetwork reports. The stock traded as high as $34.66 and last traded at $34.59, with a volume of 3,497,699 shares traded. The stock had previously closed at $34.34.
A number of analysts have recently weighed in on PPL shares. Analysts at RBC Capital raised their price target on shares of PPL from $31.00 to $34.00 in a research note on Friday, May 9th. Separately, analysts at Jefferies Group raised their price target on shares of PPL from $37.00 to $38.00 in a research note on Friday, May 2nd. Finally, analysts at Zacks reiterated a “neutral” rating on shares of PPL in a research note on Tuesday, April 29th. They now have a $35.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $34.67.
The stock’s 50-day moving average is $33. and its 200-day moving average is $31.54. The company has a market cap of $21.868 billion and a price-to-earnings ratio of 21.44. PPL also was the target of a large decline in short interest in May. As of May 15th, there was short interest totalling 8,189,880 shares, a decline of 39.6% from the April 30th total of 13,558,003 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average daily volume of 5,058,095 shares, the short-interest ratio is currently 1.6 days.
PPL (NYSE:PPL) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.80 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.71 by $0.09. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. On average, analysts predict that PPL will post $2.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.3725 per share. This represents a $1.49 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Friday, June 6th.
PPL Corporation (NYSE:PPL) is an energy and utility holding company.
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