PPL Co. (NYSE:PPL) Stock Position Lifted by Intech Investment Management LLC

Intech Investment Management LLC lifted its stake in PPL Co. (NYSE:PPL) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,638 shares of the utilities provider’s stock after acquiring an additional 2,670 shares during the quarter. Intech Investment Management LLC’s holdings in PPL were worth $2,171,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PPL. Fortitude Family Office LLC raised its stake in shares of PPL by 195.5% during the 3rd quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 516 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in PPL in the second quarter worth approximately $29,000. Redwood Wealth Management Group LLC acquired a new position in shares of PPL during the 2nd quarter worth $29,000. Ashton Thomas Securities LLC bought a new position in shares of PPL during the 3rd quarter valued at $34,000. Finally, Lynx Investment Advisory acquired a new stake in shares of PPL in the 2nd quarter valued at $38,000. 76.99% of the stock is currently owned by hedge funds and other institutional investors.

PPL Trading Down 1.1 %

PPL stock opened at $34.45 on Monday. 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 $25.42 billion, a price-to-earnings ratio of 30.76, a price-to-earnings-growth ratio of 3.00 and a beta of 0.81. The business has a 50 day moving average price of $32.75 and a two-hundred day moving average price of $30.68. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.17.

PPL (NYSE:PPL) last announced its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. PPL had a net margin of 9.95% and a return on equity of 9.20%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the previous year, the firm posted $0.43 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities analysts forecast that PPL Co. will post 1.72 EPS for the current year.

PPL Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have weighed in on PPL shares. Barclays boosted their price target on PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Jefferies Financial Group began coverage on PPL in a research report on Thursday, September 19th. They set a “buy” rating and a $38.00 target price for the company. Wells Fargo & Company increased their price target on PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a report 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 objective for the company. Finally, Morgan Stanley lifted their target price on shares of PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.