The Vanguard Group, Inc. recently announced the acquisition of new stake in PPL Corporation (NYSE:PPL). The institutional investor has increased its shareholding in the Utilities company by 3.93% to 90.17 million shares with purchase of 3.41 million shares. This fresh investment now brings its stake to 12.25% valued currently at $2.39 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 0.66 million to 44.6 million shares. And Geode Capital Management LLC has lifted its position by 2.29% or 0.35 million shares – to 15.53 million shares.
With over 7.62 million PPL Corporation (PPL) shares trading Tuesday and a closing price of $28.74 on the day, the dollar volume was approximately $218.95 million. The shares have shown a negative half year performance of -3.75% and its price on 11/22/22 gained nearly 1.84%. Currently, there are 736.25M common shares owned by the public and among those 735.50M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 13 analysts who have offered their price forecasts for PPL have a consensus price objective of $29.21. The analysts have set the share’s price value over the next 12 months at a high of $32.00 and a low of $26.00. The average price target is 1.34% above its recent price level and a downside to the estimated low will see the stock lose -10.54% over that period. But an upside of 10.19% will see the stock hit the forecast high price target while median target price for the stock is $29.50.
Insiders at the company have transacted a total of 56 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 261,147 shares. Insider sales of the common stock occurred on 29 occasions, with total insider shares sold totaling 167,874 shares.
The top 3 mutual fund holders in PPL Corporation are Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 22.06 million shares of the company’s stock, all valued at over $584.5 million. The company bought an additional 0.1 million shares recently to bring their total holdings to about 3.00% of the shares outstanding. Vanguard Mid Cap Index Fund bought 0.21 million shares to see its total holdings expand to 17.2 million shares valued at over $455.53 million and representing 2.34% of the shares outstanding. Vanguard 500 Index Fund bought 0.16 million shares to bring its total holdings to over 16.84 million shares at a value of $446.21 million. Vanguard 500 Index Fund now owns shares totaling to 2.29% of the shares outstanding.
Shares of PPL Corporation (NYSE: PPL) opened at $28.37, up $0.15 from a prior closing price of $28.22. However, the script later moved the day high at 28.83, up 1.84%. The company’s stock has a 5-day price change of 4.55% and -4.90% over the past three months. PPL shares are trading -4.39% year to date (YTD), with the 12-month market performance up to 0.81% higher. It has a 12-month low price of $23.47 and touched a high of $30.99 over the same period. PPL has an average intraday trading volume of 4.69 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.64%, 7.58%, and 2.86% respectively.
Institutional ownership of PPL Corporation (NYSE: PPL) shares accounts for 72.90% of the company’s 736.25M shares outstanding. Mutual fund holders own 28.67%, while other institutional holders and individual stakeholders account for 42.62% and 0.27% respectively.
It has a market capitalization of $20.85B and a beta (3y monthly) value of 0.80. The stock’s trailing 12-month PE ratio is 29.97, while the earnings-per-share (ttm) stands at $0.96. The company has a PEG of 1.72 and a Quick Ratio of 0.70 with the debt-to-equity ratio at 0.99. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.53% over the week and 2.02% over the month.
Analysts forecast that PPL Corporation (PPL) will achieve an EPS of $0.42 for the current quarter, $0.28 for the next quarter and $1.61 for 2023. The lowest estimate earnings-per-share for the quarter is $0.39 while analysts give the company a high EPS estimate of $0.49. Comparatively, EPS for the current quarter was $0.36 a year ago. Earnings per share for the fiscal year are expected to decrease by -97.20%, and 15.16% over the next financial year. EPS should grow at an annualized rate of 17.47% over the next five years, compared to -61.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate PPL Corporation (PPL) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 1 of the 13 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PPL, a number of firms have released research notes about the stock. Seaport Research Partners stated their Buy rating for the stock in a research note on October 06, 2022, with the firm’s price target at $28.50. BofA Securities coverage for the PPL Corporation (PPL) stock in a research note released on August 15, 2022 offered a Buy rating with a price target of $33. Evercore ISI was of a view on July 07, 2022 that the stock is Outperform, while Credit Suisse gave the stock Outperform rating on April 26, 2022, issuing a price target of $33. Credit Suisse on their part issued Outperform rating on April 11, 2022.