GAMMA Investing LLC Purchases 3,393 Shares of PPL Co. (NYSE:PPL)

GAMMA Investing LLC increased its position in shares of PPL Co. (NYSE:PPL) by 26.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,994 shares of the utilities provider’s stock after buying an additional 3,393 shares during the period. GAMMA Investing LLC’s holdings in PPL were worth $529,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PPL. Whittier Trust Co. of Nevada Inc. bought a new stake in PPL during the second quarter valued at about $29,000. Redwood Wealth Management Group LLC acquired a new stake in PPL in the 2nd quarter valued at approximately $29,000. Lynx Investment Advisory bought a new position in PPL in the 2nd quarter worth approximately $38,000. Family Firm Inc. acquired a new position in shares of PPL during the second quarter worth approximately $38,000. Finally, Central Pacific Bank Trust Division bought a new stake in shares of PPL in the first quarter valued at approximately $42,000. 76.99% of the stock is currently owned by institutional investors and hedge funds.

PPL Trading Down 0.8 %

Shares of PPL opened at $31.85 on Thursday. The stock has a 50 day simple moving average of $31.79 and a 200-day simple moving average of $29.39. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 1.12. The stock has a market cap of $23.50 billion, a PE ratio of 30.92, a PEG ratio of 2.82 and a beta of 0.82. PPL Co. has a 1 year low of $23.36 and a 1 year high of $33.38.

PPL (NYSE:PPL) last released its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.05. PPL had a return on equity of 9.26% and a net margin of 10.17%. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, sell-side analysts predict that PPL Co. will post 1.72 EPS for the current fiscal year.

PPL Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were given a dividend of $0.2575 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.03 dividend on an annualized basis and a yield of 3.23%. PPL’s dividend payout ratio (DPR) is presently 100.00%.

Analysts Set New Price Targets

Several equities analysts recently commented on PPL shares. Bank of America upped their target price on shares of PPL from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Morgan Stanley upped their price objective on shares of PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Wells Fargo & Company lifted their target price on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Jefferies Financial Group assumed coverage on PPL in a report on Thursday, September 19th. They issued a “buy” rating and a $38.00 price target for the company. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.56.

PPL 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.