Envestnet Asset Management Inc. Boosts Holdings in PPL Co. (NYSE:PPL)

Envestnet Asset Management Inc. raised its holdings in PPL Co. (NYSE:PPL) by 7.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,344,171 shares of the utilities provider’s stock after purchasing an additional 96,596 shares during the period. Envestnet Asset Management Inc. owned 0.18% of PPL worth $36,112,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Aspire Private Capital LLC purchased a new stake in PPL during the 1st quarter worth about $22,069,567,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of PPL during the fourth quarter worth about $25,000. Allworth Financial LP raised its position in shares of PPL by 165.7% in the first quarter. Allworth Financial LP now owns 898 shares of the utilities provider’s stock valued at $25,000 after buying an additional 560 shares during the last quarter. Worth Asset Management LLC purchased a new position in shares of PPL during the first quarter valued at approximately $27,000. Finally, Compass Wealth Management LLC acquired a new stake in PPL during the fourth quarter worth approximately $29,000. 73.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PPL. Guggenheim reduced their price target on PPL from $34.00 to $31.00 in a research note on Friday, July 7th. StockNews.com assumed coverage on PPL in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Morgan Stanley dropped their price objective on shares of PPL from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Wednesday, August 23rd. TheStreet downgraded shares of PPL from a “b-” rating to a “c” rating in a report on Friday, August 4th. Finally, Barclays assumed coverage on PPL in a research report on Wednesday, August 23rd. They issued an “equal weight” rating and a $26.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, PPL has a consensus rating of “Moderate Buy” and a consensus target price of $30.17.

PPL Price Performance

Shares of NYSE PPL opened at $25.27 on Wednesday. The stock has a fifty day moving average price of $26.41 and a 200 day moving average price of $27.17. The company has a current ratio of 1.09, a quick ratio of 0.90 and a debt-to-equity ratio of 1.04. PPL Co. has a 12-month low of $23.47 and a 12-month high of $31.74. The company has a market cap of $18.63 billion, a P/E ratio of 24.30, a P/E/G ratio of 2.15 and a beta of 0.78.

PPL (NYSE:PPL) last announced its earnings results on Friday, August 4th. The utilities provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.27 billion. PPL had a net margin of 8.79% and a return on equity of 7.75%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 earnings per share. Research analysts anticipate that PPL Co. will post 1.58 EPS for the current fiscal year.

PPL Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.96 dividend on an annualized basis and a yield of 3.80%. PPL’s dividend payout ratio is currently 92.31%.

PPL Company Profile

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.5 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.