Outlook Wealth Advisors LLC cut its stake in shares of PPL Corp (NYSE:PPL) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,150 shares of the utilities provider’s stock after selling 1,438 shares during the period. Outlook Wealth Advisors LLC’s holdings in PPL were worth $446,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. TRUE Private Wealth Advisors bought a new stake in shares of PPL during the second quarter valued at about $25,000. Kings Point Capital Management purchased a new position in shares of PPL during the second quarter worth about $28,000. Kavar Capital Partners LLC purchased a new position in shares of PPL during the second quarter worth about $35,000. Manchester Financial Inc. purchased a new position in shares of PPL during the second quarter worth about $38,000. Finally, Stonebridge Capital Advisors LLC purchased a new position in shares of PPL during the second quarter worth about $38,000. Hedge funds and other institutional investors own 71.83% of the company’s stock.
Several brokerages have recently commented on PPL. Morgan Stanley set a $30.00 price objective on PPL and gave the stock a “hold” rating in a report on Friday, August 16th. Bank of America raised PPL from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 7th. Evercore ISI set a $31.00 price objective on PPL and gave the stock a “hold” rating in a report on Wednesday, August 7th. ValuEngine lowered PPL from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research raised PPL from a “sell” rating to a “hold” rating and set a $34.00 price objective for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $36.80.
PPL traded down $0.15 during midday trading on Friday, hitting $31.95. The stock had a trading volume of 2,717,655 shares, compared to its average volume of 5,334,923. The company has a market cap of $23.05 billion, a P/E ratio of 13.31 and a beta of 0.50. The business has a fifty day moving average of $30.80 and a 200 day moving average of $30.67. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.48 and a current ratio of 0.55. PPL Corp has a 1 year low of $27.31 and a 1 year high of $32.88.
PPL (NYSE:PPL) last issued its earnings results on Tuesday, August 6th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.02. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.86 billion. PPL had a return on equity of 14.57% and a net margin of 22.97%. PPL’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 earnings per share. On average, equities research analysts anticipate that PPL Corp will post 2.42 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were paid a $0.4125 dividend. This represents a $1.65 annualized dividend and a yield of 5.17%. The ex-dividend date of this dividend was Monday, September 9th. PPL’s dividend payout ratio is currently 68.75%.
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 414,000 electric and 328,000 natural gas customers in Louisville and adjacent areas in Kentucky; 527,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.
Featured Story: Book Value Per Share – BVPS
Want to see what other hedge funds are holding PPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPL Corp (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.