PPL Co. (NYSE:PPL) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp decreased its position in PPL Co. (NYSE:PPLFree Report) by 16.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,126 shares of the utilities provider’s stock after selling 5,521 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in PPL were worth $762,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of PPL. Kestra Private Wealth Services LLC increased its stake in shares of PPL by 19.5% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 30,164 shares of the utilities provider’s stock valued at $711,000 after acquiring an additional 4,923 shares during the last quarter. Amalgamated Bank increased its stake in shares of PPL by 3.6% during the 3rd quarter. Amalgamated Bank now owns 193,842 shares of the utilities provider’s stock valued at $4,567,000 after acquiring an additional 6,758 shares during the last quarter. Atria Wealth Solutions Inc. increased its stake in shares of PPL by 12.8% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 13,083 shares of the utilities provider’s stock valued at $309,000 after acquiring an additional 1,487 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of PPL by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,416,950 shares of the utilities provider’s stock valued at $104,063,000 after acquiring an additional 50,533 shares during the last quarter. Finally, KCM Investment Advisors LLC acquired a new position in shares of PPL during the 3rd quarter valued at about $2,032,000. Institutional investors and hedge funds own 76.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PPL shares. Wells Fargo & Company boosted their target price on PPL from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Morgan Stanley boosted their target price on PPL from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. StockNews.com upgraded PPL from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Argus upgraded PPL from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Friday, March 8th. Finally, TheStreet cut PPL from a “b-” rating to a “c” rating in a research note on Friday, February 16th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.45.

View Our Latest Analysis on PPL

PPL Price Performance

Shares of NYSE PPL opened at $28.94 on Thursday. PPL Co. has a 1-year low of $22.20 and a 1-year high of $29.89. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.28 and a quick ratio of 1.08. The business’s fifty day moving average price is $28.04 and its two-hundred day moving average price is $27.09. The firm has a market capitalization of $21.35 billion, a PE ratio of 28.09, a P/E/G ratio of 2.51 and a beta of 0.82.

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

PPL Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be given a $0.2575 dividend. This represents a $1.03 annualized dividend and a yield of 3.56%. The ex-dividend date is Monday, June 10th. PPL’s dividend payout ratio 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.

Read More

Want to see what other hedge funds are holding PPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPL Co. (NYSE:PPLFree Report).

Institutional Ownership by Quarter for PPL (NYSE:PPL)

Receive News & Ratings for PPL Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPL and related companies with MarketBeat.com's FREE daily email newsletter.