Advisors Asset Management Inc. Trims Stake in PPL Co. (NYSE:PPL)

Advisors Asset Management Inc. cut its holdings in shares of PPL Co. (NYSE:PPL) by 19.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,201 shares of the utilities provider’s stock after selling 13,444 shares during the quarter. 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.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC boosted its stake in PPL by 195.5% during the third 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 period. Ashton Thomas Securities LLC acquired a new position in shares of PPL in the 3rd quarter worth approximately $34,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of PPL during the 2nd quarter worth approximately $29,000. Redwood Wealth Management Group LLC acquired a new stake in PPL in the 2nd quarter valued at approximately $29,000. Finally, Lynx Investment Advisory acquired a new stake in PPL in the 2nd quarter valued at approximately $38,000. 76.99% of the stock is owned by institutional investors and hedge funds.

PPL Stock Performance

NYSE:PPL 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 company has a debt-to-equity ratio of 1.17, a current ratio of 1.29 and a quick ratio of 1.07. 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 moving average price is $32.75 and its 200 day moving average price is $30.68.

PPL (NYSE:PPL) last released its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.10 billion. PPL had a return on equity of 9.20% and a net margin of 9.95%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.43 EPS. On average, sell-side analysts anticipate that PPL Co. will post 1.72 earnings per share for the current fiscal year.

PPL Announces Dividend

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 issued a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Tuesday, December 10th. PPL’s payout ratio is 91.97%.

Analysts Set New Price Targets

Several research analysts have recently commented on PPL shares. Jefferies Financial Group started coverage on PPL in a research report on Thursday, September 19th. They set a “buy” rating and a $38.00 price target for the company. Barclays lifted their target price on PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Bank of America increased their price target on shares of PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. assumed coverage on shares of PPL in a report on Friday, October 25th. They issued an “overweight” rating and a $37.00 price objective for the company. Finally, Morgan Stanley increased 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 research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.50.

PPL 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.