National Bank analyst National Bank downgraded PPL (PPL) to Hold on November 9. The company’s shares closed last Tuesday at $29.53.
PPL has an analyst consensus of Moderate Buy, with a price target consensus of $33.30, which is a 10.7% upside from current levels. In a report issued on November 9, RBC Capital also maintained a Hold rating on the stock with a $30.00 price target.
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Based on PPL’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.89 billion and net profit of $281 million. In comparison, last year the company earned revenue of $1.93 billion and had a net profit of $475 million.
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PPL Corp. is a utility holding company, which engages in the generation, transmission, and distribution of electricity. It operates through the following segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. The U.K. Regulated segment includes regulated electricity distribution operations of Western Power Distribution. The Kentucky Regulated segment comprises of LKE’s regulated electricity generation, transmission, and distribution operations of Louisville Gas and Electric Company and Kentucky Utilities Company; as well as regulated distribution and sale of natural gas of Louisville Gas and Electric Company. The Pennsylvania Regulated segment consists of regulated electricity transmission and distribution operations of PPL Electric Utilities Corporation. The company was founded in 1994 and is headquartered in Allentown, PA.
