why PPL Corp [PPL] is a Good Choice for Investors After New Price Target of $29.18

PPL Corp [NYSE: PPL] stock went on a downward path that fall over -0.72% on Wednesday, amounting to a one-week price decrease of less than -2.42%. The company report on February 21, 2024 at 5:15 PM that PPL Corporation names Greg Cornett president of Rhode Island Energy.

Cornett, a 25-year utility industry veteran, will succeed Dave Bonenberger March 4.

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PPL Corporation (NYSE: PPL) today announced 25-year utility industry veteran Greg Cornett has been named president of Rhode Island Energy (RIE). Effective March 4, Cornett will succeed Dave Bonenberger, who is moving into a new role as PPL Senior Vice President and Chief Operating Officer – Utilities.

Over the last 12 months, PPL stock dropped by -4.75%. The one-year PPL Corp stock forecast points to a potential upside of 10.08. The average equity rating for PPL stock is currently 1.85, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $19.35 billion, with 737.13 million shares outstanding and 735.67 million shares in the current float. Compared to the average trading volume of 5.78M shares, PPL stock reached a trading volume of 4078120 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on PPL Corp [PPL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PPL shares is $29.18 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 1.85. 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.

UBS have made an estimate for PPL Corp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 04, 2023. While these analysts kept the previous recommendation, Barclays raised their target price to Equal Weight. The new note on the price target was released on August 23, 2023, representing the official price target for PPL Corp stock. Previously, the target price had yet another raise to $32, while Morgan Stanley analysts kept a Overweight rating on PPL stock.

The Average True Range (ATR) for PPL Corp is set at 0.42, with the Price to Sales ratio for PPL stock in the period of the last 12 months amounting to 2.33. The Price to Book ratio for the last quarter was 1.39, with the Price to Cash per share for the same quarter was set at 0.52.

PPL Stock Performance Analysis:

PPL Corp [PPL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.42. With this latest performance, PPL shares gained by 0.92% in over the last four-week period, additionally plugging by 3.84% over the last 6 months – not to mention a drop of -4.75% 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 48.29, with the RSI for the last a single of trading hit 46.85, and the three-weeks RSI is set at 48.97 for PPL Corp [PPL]. The present Moving Average for the last 50 days of trading for this stock 26.54, while it was recorded at 26.51 for the last single week of trading, and 25.98 for the last 200 days.

Insight into PPL Corp Fundamentals:

PPL Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.73 and a Current Ratio set at 0.88.

PPL Stock EPS

With the latest financial reports released by the company, PPL Corp posted 0.48/share EPS, while the average EPS was predicted by analysts to be reported at 0.46/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.30%. 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 Corp go to 17.21%.

PPL Corp [PPL] Institutonal Ownership Details

The top three institutional holders of PPL stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PPL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PPL stock with ownership which is approximately 5.8325%.