Park Place Capital Corp Cuts Stock Position in PPL Co. (NYSE:PPL)

Park Place Capital Corp lowered its position in PPL Co. (NYSE:PPL) by 15.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,551 shares of the utilities provider’s stock after selling 1,373 shares during the period. Park Place Capital Corp’s holdings in PPL were worth $250,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in PPL in the 2nd quarter worth approximately $29,000. Redwood Wealth Management Group LLC acquired a new stake in PPL in the 2nd quarter worth approximately $29,000. Lynx Investment Advisory acquired a new stake in PPL in the 2nd quarter worth approximately $38,000. Family Firm Inc. acquired a new stake in PPL in the 2nd quarter worth approximately $38,000. Finally, Central Pacific Bank Trust Division acquired a new stake in PPL in the 1st quarter worth approximately $42,000. Hedge funds and other institutional investors own 76.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PPL. Bank of America lifted their target price on shares of PPL from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Wells Fargo & Company lifted their target price on shares of PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Jefferies Financial Group assumed coverage on shares of PPL in a research note on Thursday, September 19th. They set a “buy” rating and a $38.00 price objective for the company. Finally, Morgan Stanley lifted their price objective on shares of PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.80.

PPL Price Performance

Shares of NYSE PPL opened at $32.14 on Wednesday. The firm has a market cap of $23.71 billion, a PE ratio of 31.20, a PEG ratio of 2.82 and a beta of 0.82. The firm has a fifty day moving average of $31.75 and a 200 day moving average of $29.36. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.91 and a current ratio of 1.11. PPL Co. has a one year low of $23.34 and a one year high of $33.38.

PPL (NYSE:PPL) last issued its quarterly earnings results on Friday, August 2nd. The utilities provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.33 by $0.05. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.92 billion. PPL had a net margin of 10.17% and a return on equity of 9.26%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS. As a group, research analysts predict that PPL Co. will post 1.72 EPS for the current fiscal year.

PPL Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders 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 dividend yield of 3.20%. The ex-dividend date was Tuesday, September 10th. PPL’s payout ratio is 100.00%.

PPL Company Profile

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.