Independent Advisor Alliance Buys 1,190 Shares of PPL Co. (NYSE:PPL)

Independent Advisor Alliance lifted its stake in PPL Co. (NYSE:PPLFree Report) by 6.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,427 shares of the utilities provider’s stock after acquiring an additional 1,190 shares during the period. Independent Advisor Alliance’s holdings in PPL were worth $526,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allegheny Financial Group LTD boosted its holdings in PPL by 7.5% during the fourth quarter. Allegheny Financial Group LTD now owns 11,528 shares of the utilities provider’s stock valued at $312,000 after acquiring an additional 804 shares during the period. Kingsview Wealth Management LLC raised its position in PPL by 8.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 33,151 shares of the utilities provider’s stock worth $898,000 after purchasing an additional 2,525 shares in the last quarter. Panagora Asset Management Inc. lifted its stake in PPL by 7.9% during the fourth quarter. Panagora Asset Management Inc. now owns 122,752 shares of the utilities provider’s stock worth $3,327,000 after purchasing an additional 9,032 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in PPL by 43.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 55,742 shares of the utilities provider’s stock valued at $1,511,000 after purchasing an additional 16,868 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of PPL by 2.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 401,135 shares of the utilities provider’s stock valued at $10,871,000 after purchasing an additional 9,102 shares during the period. 76.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PPL. StockNews.com upgraded shares of PPL from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Bank of America raised their price objective on shares of PPL from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Mizuho lifted their price objective on PPL from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Barclays upped their target price on shares of PPL from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Finally, Argus upgraded PPL from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Friday, March 8th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.27.

Read Our Latest Analysis on PPL

PPL Price Performance

PPL opened at $29.62 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.28 and a debt-to-equity ratio of 1.12. The company has a fifty day simple moving average of $27.56 and a 200 day simple moving average of $26.82. PPL Co. has a 12 month low of $22.20 and a 12 month high of $29.70. The stock has a market cap of $21.85 billion, a P/E ratio of 28.75, a P/E/G ratio of 2.69 and a beta of 0.81.

PPL (NYSE:PPLGet Free Report) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.39 billion. PPL had a net margin of 9.29% and a return on equity of 8.80%. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 EPS. On average, research analysts expect that PPL Co. will post 1.71 EPS for the current year.

PPL Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 10th will be issued a $0.2575 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.48%. PPL’s dividend payout ratio (DPR) is presently 100.00%.

PPL Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for PPL (NYSE:PPL)

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