Allentown-based PPL posted second-quarter net income of $483 million after reporting a $757 million loss in the same period a year ago, when the company spun off its competitive energy-supply business into Talen Energy Corp.
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Several equities analysts recently weighed in on PPL shares.
Investors evaluating PPL stock at the current market price of $36.64/share should know the company will next release quarterly results for the June 2016 quarter.
PPL Corporation (NYSE:PPL) down -2.55% for the past 5 days, is under coverage of 19 analysts who collectively assign a hold rating on stock. The company’s revenue was up.2% compared to the same quarter past year.
Shares of PPL Corp (NYSE:PPL) fell -1.06% to reach at $36.25 during the course of session.
Insider Activity: Corporate insiders look pessimistic about the outlook of the company stock that they seem to offload shares while they have 9.56 jumped so far this year.
Zacks Rank: Currently, PPL Corp. has a Zacks Rank #3 (Hold). Meanwhile, global electricity delivery fell 0.9% year over year. Moreover, Reaves W H & Co Inc has 2.4% invested in the company for 1.76 million shares. The stock’s price moved below its 200 day moving average of $37.15. The company earned $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. Finally, Nordea Investment Management AB boosted its position in shares of PPL Corp.by 14.0% in the second quarter. Vetr raised shares of PPL Corp. from a hold rating to a buy rating and set a $40.00 price objective on the stock in a research report on Thursday, July 14th. The firm lowered its rating on PPL from Buy to Hold. The shares were sold at an average price of $38.84, for a total value of $1,324,521.68. The 15 stock analysts who cover the stock have an average PT at $39.47, with individual targets in the range of $37 to $42. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
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Separately, TheStreet Ratings objectively rated this stock according to its “risk-adjusted” total return prospect over a 12-month investment horizon. Also, VP Joseph P. Bergstein, Jr. sold 1,581 shares of the firm’s stock in a transaction on Friday, July 8th. This includes investments to make the energy grid smarter, more reliable and more resilient. Through its subsidiaries PPL delivers electricity to customers in the United Kingdom Pennsylvania Kentucky Virginia and Tennessee; delivers natural gas to customers in Kentucky; generates electricity from power plants in the northeastern northwestern and southeastern United States and markets wholesale or retail energy in the northeastern and northwestern parts of the United States.
