why PPL Corporation [PPL] is a Good Choice for Investors After New Price Target of $29.63

PPL Corporation [NYSE: PPL] surged by $0.5 during the normal trading session on Tuesday and reaching a high of $26.225 during the day while it closed the day at $25.96. The company report on October 24, 2022 that PPL and Elia Group subsidiaries announce agreement to develop and propose innovative transmission solutions to connect future offshore wind capacity to onshore grid in New England.

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PPL Corporation (NYSE: PPL), through its subsidiary PPL TransLink Inc., and Elia Group, through its subsidiary WindGrid, today announced an agreement to develop and propose innovative transmission solutions to reliably and efficiently integrate future offshore wind capacity to the onshore grid in the New England region.

The two companies signed a memorandum of understanding to work together to develop, build and operate transmission assets. This will combine PPL’s extensive experience in building and operating large-scale onshore transmission in the U.S. with Elia Group’s proven track record in building, integrating and operating offshore transmission, including high-voltage direct current (HVDC) networks.

PPL Corporation stock has also gained 2.24% of its value over the past 7 days. However, PPL stock has declined by -7.55% in the 3 months of the year. Over the past six months meanwhile, it has lost -11.25% and lost -13.64% year-on date.

The market cap for PPL stock reached $18.59 billion, with 735.98 million shares outstanding and 735.37 million shares in the current float. Compared to the average trading volume of 4.91M shares, PPL reached a trading volume of 5297070 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about PPL Corporation [PPL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PPL shares is $29.63 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PPL stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Seaport Research Partners have made an estimate for PPL Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 06, 2022. While these analysts kept the previous recommendation, BofA Securities raised their target price from $29 to $33. The new note on the price target was released on August 15, 2022, representing the official price target for PPL Corporation stock. Previously, the target price had yet another raise to $30, while Evercore ISI analysts kept a Outperform rating on PPL stock.

The Average True Range (ATR) for PPL Corporation is set at 0.75, with the Price to Sales ratio for PPL stock in the period of the last 12 months amounting to 2.87. The Price to Book ratio for the last quarter was 1.38, with the Price to Cash per share for the same quarter was set at 0.47.

PPL stock trade performance evaluation

PPL Corporation [PPL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.24. With this latest performance, PPL shares dropped by -5.60% in over the last four-week period, additionally sinking by -11.25% over the last 6 months – not to mention a drop of -10.48% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PPL stock in for the last two-week period is set at 48.48, with the RSI for the last a single of trading hit 54.67, and the three-weeks RSI is set at 45.88 for PPL Corporation [PPL]. The present Moving Average for the last 50 days of trading for this stock 27.83, while it was recorded at 25.49 for the last single week of trading, and 28.20 for the last 200 days.

PPL Corporation [PPL]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and PPL Corporation [PPL] shares currently have an operating margin of +24.62 and a Gross Margin at +28.20. PPL Corporation’s Net Margin is presently recorded at +0.31.

Return on Equity for this stock inclined to 0.13, with Return on Assets sitting at 0.04.

PPL Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.60.

Earnings per share (EPS) analysis for PPL Corporation [PPL] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PPL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for PPL Corporation go to 17.47%.

PPL Corporation [PPL]: Insider Ownership positions

There are presently around $13,362 million, or 71.90% of PPL stock, in the hands of institutional investors. The top three institutional holders of PPL stocks are: VANGUARD GROUP INC with ownership of 90,052,227, which is approximately 2.575% of the company’s market cap and around 0.11% of the total institutional ownership; BLACKROCK INC., holding 58,991,645 shares of the stock with an approximate value of $1.53 billion in PPL stocks shares; and STATE STREET CORP, currently with $1.14 billion in PPL stock with ownership of nearly 2.753% of the company’s market capitalization.

Positions in PPL Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 362 institutional holders increased their position in PPL Corporation [NYSE:PPL] by around 62,001,132 shares. Additionally, 382 investors decreased positions by around 34,374,114 shares, while 130 investors held positions by with 418,326,919 shares. The mentioned changes placed institutional holdings at 514,702,165 shares, according to the latest SEC report filing. PPL stock had 67 new institutional investments in for a total of 9,346,339 shares, while 90 institutional investors sold positions of 6,101,285 shares during the same period.


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