RBC Capital analyst Shelby Tucker maintained a Hold rating on PPL (PPL) yesterday and set a price target of $30.00. The company’s shares closed last Monday at $27.77.
According to TipRanks.com, Tucker is a 5-star analyst with an average return of 7.2% and a 69.6% success rate. Tucker covers the Utilities sector, focusing on stocks such as Public Service Enterprise, American Electric Power, and Nextera Energy Partners.
Currently, the analyst consensus on PPL is a Moderate Buy with an average price target of $30.21, representing a 5.5% upside. In a report issued on October 5, Morgan Stanley also maintained a Hold rating on the stock with a $31.00 price target.
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Based on PPL’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.74 billion and net profit of $344 million. In comparison, last year the company earned revenue of $1.8 billion and had a net profit of $441 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.
