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 1.68% to 63.15 million shares with purchase of 1.05 million shares. This fresh investment now brings its stake to 8.21% valued currently at $1.68 billion. In addition, BlackRock Fund Advisors raised its holdings by 2.47 million to 48.54 million shares. And The Caisse de dépôt et placement.. has lifted its position by 7.92% or 1.67 million shares – to 22.81 million shares.
With over 4.6 million PPL Corporation (PPL) shares trading Tuesday and a closing price of $27.92 on the day, the dollar volume was approximately $128.43 million. The shares have shown a negative weekly performance of -1.48% and its price on 08/25/20 lost nearly -1.59%. Currently, there are 768.77M common shares owned by the public and among those 767.93M 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: 14 analysts who have offered their price forecasts for PPL have a consensus price objective of $30.46. The analysts have set the share’s price value over the next 12 months at a high of $35.00 and a low of $25.00 should the stock experience a downside. Incidentally, analysts’ outlook for the PPL Corporation stock is 2.50 for the next 12 months. The average price target is 3.32% above its last price level and an upside to the estimated low will see the stock lose -11.68% over that period. But an upside of 20.23% will see the stock hit the forecast high price target while mean target price for the stock is $30.50.
Insiders at the company have transacted a total of 63 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 31 of these insider trades were purchases, accounting for 1,386,493 shares. Insider sales of the common stock occurred on 32 occasions, with total insider shares sold totaling 1,175,314 shares.
The top 3 mutual fund holders in PPL Corporation are Vanguard Total Stock Market Index, Caisse de Dépôt & Placement du Qu, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 21.83 million shares of the company’s stock, all valued at over $581.16 million. The company sold 83072.0 shares recently to bring their total holdings to about 2.84% of the shares outstanding. Caisse de Dépôt & Placement du Qu sold -4.15 million shares to see its total holdings shrink to 16.58 million shares valued at over $441.46 million and representing 2.16% of the shares outstanding. Vanguard 500 Index Fund sold 97182.0 shares to bring its total holdings to over 15.86 million shares at a value of $422.07 million. Vanguard 500 Index Fund now owns shares totaling to 2.06% of the shares outstanding.
Shares of PPL Corporation (NYSE: PPL) opened at $28.41, up $0.04 from a prior closing price of $28.37. However, the script later closed the day at $27.92, down -1.59%. The company’s stock has a 5-day price change of -1.48% and 4.41% over the past three months. PPL shares are trading -22.19% year to date (YTD), with the 12-month market performance down to -5.29% lower. It has a 12-month low price of $18.12 and touched a high of $36.83 over the same period. Currently, 4.6 million shares have been traded, compared to an average intraday trading volume of 5.62 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 1.00%, 5.15%, and -5.79% respectively.
Institutional ownership of PPL Corporation (NYSE: PPL) shares accounts for 69.10% of the company’s 768.77M shares outstanding. Mutual fund holders own 28.55%, while other institutional holders and individual stakeholders account for 39.90% and 0.21% respectively.
It has a market capitalization of $21.45B and a beta (3y monthly) value of 0.78. The stock’s trailing 12-month PE ratio is 12.13, while the earnings-per-share (ttm) stands at $2.30. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.90% over the week and 2.49% over the month.
Analysts forecast that PPL Corporation (PPL) will achieve an EPS of $0.61 for the current quarter, $0.57 for the next quarter and $2.46 for 2021. The lowest estimate earnings-per-share for the quarter is $0.59 while analysts give the company a high EPS estimate of $0.65. Comparatively, EPS for the current quarter was $0.61 a year ago. Earnings per share for the fiscal year are expected to decrease by -8.00%, and 1.53% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate PPL Corporation (PPL) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 9 of the 14 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. Mizuho stated their Neutral rating for the stock in a research note on August 19, 2020, with the firm’s price target at. Seaport Global Securities coverage for the PPL Corporation (PPL) stock in a research note released on August 11, 2020 offered a Neutral rating with a price target of. Seaport Global Securities was of a view on June 09, 2020 that the stock is Sell, while Mizuho gave the stock Buy rating on May 29, 2020, issuing a price target of $30. Seaport Global Securities on their part issued Neutral rating on May 20, 2020.