KBC Group NV Raises Position in PPL Co. (NYSE:PPL)

KBC Group NV grew its position in PPL Co. (NYSE:PPL) by 4.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,729 shares of the utilities provider’s stock after acquiring an additional 2,817 shares during the period. KBC Group NV’s holdings in PPL were worth $2,009,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC boosted its holdings in shares of PPL by 195.5% in the third quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 516 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of PPL in the second quarter valued at about $29,000. Redwood Wealth Management Group LLC purchased a new stake in shares of PPL in the second quarter valued at about $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of PPL in the third quarter valued at about $34,000. Finally, Lynx Investment Advisory purchased a new stake in shares of PPL in the second quarter valued at about $38,000. Hedge funds and other institutional investors own 76.99% of the company’s stock.

PPL Stock Performance

Shares of PPL opened at $34.00 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.07 and a debt-to-equity ratio of 1.17. The stock has a market cap of $25.09 billion, a P/E ratio of 30.36, a PEG ratio of 2.91 and a beta of 0.81. The company has a 50-day moving average of $32.56 and a two-hundred day moving average of $30.51. PPL Co. has a 12-month low of $25.35 and a 12-month high of $34.04.

PPL (NYSE:PPL) last announced its earnings results on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 net margin of 9.95% and a return on equity of 9.20%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 earnings per share. As a group, research analysts predict that PPL Co. will post 1.72 EPS for the current fiscal year.

PPL Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were given a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Tuesday, September 10th. PPL’s dividend payout ratio is presently 91.96%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PPL. Jefferies Financial Group assumed coverage on shares of PPL in a report on Thursday, September 19th. They issued a “buy” rating and a $38.00 target price on the stock. Barclays raised their price objective 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. Wells Fargo & Company raised their price objective 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. Morgan Stanley raised their price objective 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. Finally, Bank of America raised their price objective on shares of PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

About PPL

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.