Advisors Asset Management Inc. Decreases Stock Holdings in PPL Co. (NYSE:PPL)

Advisors Asset Management Inc. lessened its stake in PPL Co. (NYSE:PPL) by 19.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,201 shares of the utilities provider’s stock after selling 13,444 shares during the period. Advisors Asset Management Inc.’s holdings in PPL were worth $1,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PPL. Fortitude Family Office LLC grew its position 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 worth $26,000 after buying an additional 516 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in PPL in the third quarter worth $34,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of PPL during the 2nd quarter valued at $29,000. Redwood Wealth Management Group LLC acquired a new stake in shares of PPL in the 2nd quarter worth $29,000. Finally, Lynx Investment Advisory purchased a new position in PPL during the 2nd quarter worth $38,000. Hedge funds and other institutional investors own 76.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Bank of America raised their price target on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Jefferies Financial Group assumed coverage on shares of PPL in a research report on Thursday, September 19th. They set a “buy” rating and a $38.00 target price on the stock. Morgan Stanley raised their price target on shares of PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Wells Fargo & Company upped their target price on PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.50.

PPL Stock Down 1.1 %

Shares of PPL stock opened at $34.45 on Monday. PPL Co. has a twelve month low of $25.35 and a twelve month high of $35.00. The stock has a market cap of $25.42 billion, a P/E ratio of 30.76, a P/E/G ratio of 3.00 and a beta of 0.81. The stock has a 50 day moving average of $32.75 and a 200 day moving average of $30.68. The company has a current ratio of 1.29, a quick ratio of 1.07 and a debt-to-equity ratio of 1.17.

PPL (NYSE:PPL) last issued its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 earnings per share 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 during the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The company’s revenue was up 1.1% compared to the same quarter last year. As a group, sell-side analysts expect that PPL Co. will post 1.72 EPS for the current year.

PPL Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be given a $0.2575 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $1.03 annualized dividend and a dividend yield of 2.99%. PPL’s dividend payout ratio (DPR) is 91.97%.

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.