PPL Co. (NYSE:PPL) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC grew its stake in shares of PPL Co. (NYSE:PPL) by 47.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,071 shares of the utilities provider’s stock after acquiring an additional 5,784 shares during the period. Park Avenue Securities LLC’s holdings in PPL were worth $587,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC grew its stake in PPL by 195.5% in the 3rd quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 516 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of PPL in the third quarter worth $34,000. Rosenberg Matthew Hamilton lifted its position in shares of PPL by 1,092.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 1,114 shares in the last quarter. Covestor Ltd boosted its stake in shares of PPL by 139.2% during the third quarter. Covestor Ltd now owns 1,512 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 880 shares during the last quarter. Finally, McClarren Financial Advisors Inc. increased its position in PPL by 5,759.3% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 1,582 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 1,555 shares in the last quarter. Hedge funds and other institutional investors own 76.99% of the company’s stock.

Insider Activity at PPL

In other PPL news, insider John R. Crockett III sold 9,161 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $34.35, for a total value of $314,680.35. Following the completion of the transaction, the insider now owns 12,434 shares in the company, valued at approximately $427,107.90. This represents a 42.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Tadd J. Henninger sold 6,639 shares of PPL stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $32.16, for a total value of $213,510.24. Following the sale, the senior vice president now directly owns 11,210 shares in the company, valued at approximately $360,513.60. This trade represents a 37.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.

PPL Stock Performance

PPL stock opened at $32.65 on Thursday. The company has a market cap of $24.09 billion, a PE ratio of 29.15, a P/E/G ratio of 2.68 and a beta of 0.83. PPL Co. has a 12 month low of $25.35 and a 12 month high of $35.15. The company has a fifty day moving average price of $33.08 and a two-hundred day moving average price of $31.98. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.29 and a quick ratio of 1.07.

PPL (NYSE:PPL) last announced its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.10 billion. PPL had a net margin of 9.95% and a return on equity of 9.20%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.43 EPS. Research analysts expect that PPL Co. will post 1.72 earnings per share for the current year.

PPL Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th were given a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Tuesday, December 10th. PPL’s payout ratio is 91.97%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PPL shares. Bank of America boosted their price target on PPL from $34.00 to $35.00 and gave the company a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. assumed coverage on PPL in a research report on Friday, October 25th. They issued an “overweight” rating and a $37.00 price objective on the stock. Barclays reduced their target price on shares of PPL from $34.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Jefferies Financial Group lowered their target price on PPL from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Tuesday, December 17th. Finally, BMO Capital Markets began coverage on PPL in a report on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

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.