PPL Corp (PPL) is Downgraded by BofA/Merrill to Neutral

PPL Corp (PPL) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Nov 22, 2016.

On the company’s financial health, PPL Corp reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Nov 1, 2016. Analyst had a consensus of $0.58. The company had revenue of $1889.00 million for the quarter, compared to analysts expectations of $1968.06 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.

PPL Corp opened for trading at $32.89 and hit $33.1 on the upside on Monday, eventually ending the session at $32.84, with a gain of 0.03% or 0.01 points. The heightened volatility saw the trading volume jump to 29,01,138 shares. Company has a market cap of $22,319 M.

Investors should note that on Nov 18, 2016, PPL Corp announced a cash dividend of $0.3800. The company’s management has announced Dec 7, 2016 as the ex-dividend date and fixed the record date on Dec 9, 2016. The payable date has been fixed on Jan 3, 2017.

In a different news, on Jul 12, 2016, Robert A Symons (Chief Exec of a PPL Subsidiary) sold 13,901 shares at $37.40 per share price. According to the SEC, on Jul 12, 2016, Joseph P Jr Bergstein (VP-IR and Treasurer) sold 1,581 shares at $37.06 per share price. On Jun 20, 2016, Gregory N Dudkin (President of a PPL Subsidiary) sold 34,102 shares at $38.84 per share price, according to the Form-4 filing with the securities and exchange commission.

PPL Corporation (PPL) is an energy and utility holding company. Through its subsidiaries PPL delivers electricity to customers in the United Kingdom Pennsylvania Kentucky Virginia and Tennessee; delivers natural gas to customers in Kentucky; generates electricity from power plants in the northeastern northwestern and southeastern United States and markets wholesale or retail energy in the northeastern and northwestern parts of the United States. PPL operates in four segments: The U.K. Regulated Segment comprising PPL Global comprising WPD Ltd’s (WPD) regulated electricity distribution operations; Kentucky Regulated segment comprising the operations of LG&E and KU Energy LLC which owns and operates regulated public utilities; the Pennsylvania Regulated segment comprising PPL Electric Utilities Corporation’s operations and the Supply segment comprising the activities of PPL Energy Supply LLC’s subsidiaries.

PPL Corp

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