Massachusetts Financial Services Co. MA Buys 55,594 Shares of PPL Co. (NYSE:PPL)

Massachusetts Financial Services Co. MA lifted its stake in shares of PPL Co. (NYSE:PPL - Free Report) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,512,407 shares of the utilities provider's stock after purchasing an additional 55,594 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.88% of PPL worth $215,430,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PPL. Point72 Asset Management L.P. increased its stake in PPL by 91.3% in the second quarter. Point72 Asset Management L.P. now owns 5,821,936 shares of the utilities provider's stock valued at $160,977,000 after purchasing an additional 2,778,820 shares in the last quarter. Electron Capital Partners LLC increased its position in shares of PPL by 71.3% during the second quarter. Electron Capital Partners LLC now owns 4,306,007 shares of the utilities provider's stock worth $119,061,000 after acquiring an additional 1,792,200 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of PPL by 25.3% during the second quarter. Clearbridge Investments LLC now owns 5,890,854 shares of the utilities provider's stock worth $162,882,000 after acquiring an additional 1,189,339 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of PPL by 5,390.2% during the third quarter. Assenagon Asset Management S.A. now owns 563,015 shares of the utilities provider's stock worth $18,625,000 after acquiring an additional 552,760 shares in the last quarter. Finally, Yaupon Capital Management LP increased its position in shares of PPL by 83.1% during the first quarter. Yaupon Capital Management LP now owns 1,139,592 shares of the utilities provider's stock worth $31,373,000 after acquiring an additional 517,300 shares in the last quarter. 76.99% of the stock is currently owned by institutional investors and hedge funds.

PPL Stock Performance

NYSE:PPL traded down $0.40 during mid-day trading on Friday, reaching $34.45. 11,916,292 shares of the company's stock were exchanged, compared to its average volume of 5,452,720. PPL Co. has a one year low of $25.35 and a one year high of $35.00. The firm has a market capitalization of $25.42 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 3.00 and a beta of 0.81. The business's fifty day simple moving average is $32.75 and its two-hundred day simple moving average is $30.65. 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 released its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.42 EPS for the quarter, hitting analysts' consensus estimates of $0.42. PPL had a net margin of 9.95% and a return on equity of 9.20%. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same period last year, the firm earned $0.43 earnings per share. PPL's revenue for the quarter was up 1.1% compared to the same quarter last year. Analysts anticipate that PPL Co. will post 1.72 earnings per share for the current fiscal year.

PPL Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be issued a $0.2575 dividend. This represents a $1.03 annualized dividend and a yield of 2.99%. The ex-dividend date is Tuesday, December 10th. PPL's dividend payout ratio is currently 91.97%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PPL shares. Bank of America increased their target price on shares of PPL from $34.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Wells Fargo & Company increased their price target on shares of PPL from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Monday, September 16th. JPMorgan Chase & Co. initiated coverage on shares of PPL in a research note on Friday, October 25th. They issued an "overweight" rating and a $37.00 price target for the company. Barclays increased their price target on shares of 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 research note on Thursday, September 19th. They issued a "buy" rating and a $38.00 price target for the company. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $35.50.

PPL Company Profile

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.