PPL Co. (NYSE:PPL) Shares Acquired by Magellan Asset Management Ltd

Magellan Asset Management Ltd increased its position in shares of PPL Co. (NYSE:PPL) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 548,247 shares of the utilities provider’s stock after acquiring an additional 18,431 shares during the period. Magellan Asset Management Ltd owned about 0.07% of PPL worth $14,507,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Greenleaf Trust lifted its holdings in PPL by 3.2% during the 1st quarter. Greenleaf Trust now owns 11,571 shares of the utilities provider’s stock worth $322,000 after buying an additional 363 shares in the last quarter. Wealth Alliance boosted its holdings in PPL by 2.2% in the first quarter. Wealth Alliance now owns 17,995 shares of the utilities provider’s stock valued at $500,000 after purchasing an additional 386 shares during the period. IVC Wealth Advisors LLC grew its stake in PPL by 5.3% during the 2nd quarter. IVC Wealth Advisors LLC now owns 7,879 shares of the utilities provider’s stock worth $208,000 after purchasing an additional 400 shares in the last quarter. Compass Wealth Management LLC increased its holdings in PPL by 40.0% during the 2nd quarter. Compass Wealth Management LLC now owns 1,400 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 400 shares during the period. Finally, Centennial Wealth Advisory LLC raised its position in PPL by 3.9% in the 2nd quarter. Centennial Wealth Advisory LLC now owns 11,025 shares of the utilities provider’s stock valued at $292,000 after purchasing an additional 412 shares in the last quarter. 73.09% of the stock is owned by institutional investors and hedge funds.

PPL Stock Performance

Shares of NYSE PPL traded down $0.06 during trading hours on Tuesday, reaching $26.11. The stock had a trading volume of 1,621,355 shares, compared to its average volume of 5,438,509. The firm has a 50-day moving average of $24.61 and a 200-day moving average of $25.83. The firm has a market cap of $19.25 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 2.22 and a beta of 0.83. The company has a current ratio of 0.96, a quick ratio of 0.79 and a debt-to-equity ratio of 1.03. PPL Co. has a fifty-two week low of $22.20 and a fifty-two week high of $31.74.

PPL Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.68%. PPL’s dividend payout ratio (DPR) is presently 86.49%.

Analyst Ratings Changes

A number of equities analysts have recently commented on PPL shares. Guggenheim lowered their price objective on PPL from $31.00 to $27.00 in a research report on Monday, October 9th. TheStreet downgraded shares of PPL from a “b-” rating to a “c” rating in a research report on Friday, August 4th. Barclays decreased their price objective on shares of PPL from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 24th. Citigroup initiated coverage on PPL in a report on Thursday, October 5th. They issued a “neutral” rating and a $42.00 target price on the stock. Finally, StockNews.com raised PPL from a “sell” rating to a “hold” rating in a research report on Friday, October 13th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $30.13.

PPL Company Profile

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.5 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.