DRW Securities LLC bought a new position in shares of PPL Co. (NYSE:PPL - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 36,832 shares of the utilities provider's stock, valued at approximately $1,218,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PPL. Fortitude Family Office LLC raised its holdings in shares of PPL by 195.5% in the 3rd quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 516 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in PPL in the second quarter valued at approximately $29,000. Redwood Wealth Management Group LLC acquired a new stake in shares of PPL in the second quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new position in shares of PPL during the 3rd quarter worth approximately $34,000. Finally, Lynx Investment Advisory bought a new position in shares of PPL during the 2nd quarter worth approximately $38,000. 76.99% of the stock is owned by institutional investors.
Insider Activity
In other news, insider John R. Crockett III sold 9,161 shares of PPL stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $34.35, for a total value of $314,680.35. Following the completion of the sale, the insider now directly owns 12,434 shares in the company, valued at $427,107.90. The trade was a 42.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.22% of the company's stock.
PPL Stock Performance
PPL traded up $0.44 during midday trading on Tuesday, reaching $34.84. The company had a trading volume of 6,547,530 shares, compared to its average volume of 4,910,997. The business has a 50-day moving average price of $32.83 and a two-hundred day moving average price of $30.76. PPL Co. has a 12-month low of $25.35 and a 12-month high of $35.00. The stock has a market cap of $25.71 billion, a PE ratio of 31.11, a P/E/G ratio of 2.97 and a beta of 0.81. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.07 and a current ratio of 1.29.
PPL (NYSE:PPL - Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.10 billion. PPL had a return on equity of 9.20% and a net margin of 9.95%. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 earnings per share. On average, sell-side analysts expect that PPL Co. will post 1.72 earnings per share for the current fiscal year.
PPL Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.2575 per share. The ex-dividend date is Tuesday, December 10th. This represents a $1.03 annualized dividend and a yield of 2.96%. PPL's payout ratio is 91.97%.
Analyst Upgrades and Downgrades
PPL has been the subject of several research reports. Bank of America raised their price target on PPL from $34.00 to $35.00 and gave the company a "buy" rating in a report on Monday, November 4th. Morgan Stanley upped their price target on shares of PPL from $31.00 to $33.00 and gave the company an "overweight" rating in a research note on Friday, August 23rd. Wells Fargo & Company increased their target price on PPL from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Monday, September 16th. Barclays boosted their price target on PPL from $30.00 to $34.00 and gave the company an "equal weight" rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group initiated coverage on shares of PPL in a report on Thursday, September 19th. They set a "buy" rating and a $38.00 target price on the stock. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $35.50.
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About PPL
(
Free Report)
PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.
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