Covestor Ltd Has $50,000 Holdings in PPL Co. (NYSE:PPL)

Covestor Ltd grew its stake in shares of PPL Co. (NYSE:PPL) by 139.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,512 shares of the utilities provider’s stock after buying an additional 880 shares during the period. Covestor Ltd’s holdings in PPL were worth $50,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PPL. Fortitude Family Office LLC boosted its stake in 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 acquiring an additional 516 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of PPL during the second quarter worth $29,000. Redwood Wealth Management Group LLC bought a new stake in shares of PPL in the 2nd quarter valued at $29,000. Lynx Investment Advisory acquired a new stake in PPL during the 2nd quarter worth $38,000. Finally, Family Firm Inc. bought a new position in PPL during the second quarter worth about $38,000. 76.99% of the stock is currently owned by institutional investors and hedge funds.

PPL Stock Down 0.8 %

PPL stock opened at $33.23 on Friday. PPL Co. has a twelve month low of $25.35 and a twelve month high of $33.60. The company has a market cap of $24.52 billion, a price-to-earnings ratio of 29.67, a P/E/G ratio of 2.84 and a beta of 0.81. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.17. The business has a 50 day moving average price of $32.48 and a two-hundred day moving average price of $30.36.

PPL (NYSE:PPL) last issued its earnings results on Friday, November 1st. The utilities provider reported $0.42 earnings per share for the quarter, hitting 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 net margin of 9.95% and a return on equity of 9.20%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.43 earnings per share. Analysts anticipate that PPL Co. will post 1.72 EPS for the current fiscal year.

PPL Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were issued a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Tuesday, September 10th. PPL’s payout ratio is currently 91.96%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wells Fargo & Company raised their price target on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Bank of America raised 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. JPMorgan Chase & Co. began coverage on shares of PPL in a report on Friday, October 25th. They issued an “overweight” rating and a $37.00 price target for the company. Morgan Stanley raised their price objective on shares of PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Jefferies Financial Group started coverage on shares of PPL in a research note on Thursday, September 19th. They issued a “buy” rating and a $38.00 target price for the company. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.