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NEW YORK ( TheStreet) -- PPL (NYSE: PPL) hit a new 52-week high Thursday as it is currently trading at $29.64, above its previous 52-week high of $29.61 with 138,976 shares traded as of 9:36 a.m. ET. Average volume has been 5.4 million shares over the past 30 days. PPL has a market cap of $16.6 billion and is part of the utilities sector and utilities industry. Shares are up 11.1% year to date as of the close of trading on Wednesday. PPL Corporation, an energy and utility holding company, generates and sells electricity; and delivers natural gas to approximately 5.3 million utility customers primarily in the northeastern and northwestern U.S. The company has a P/E ratio of 11.6, below the average utilities industry P/E ratio of 11.7 and below the S&P 500 P/E ratio of 17.7.