Wealth Enhancement Advisory Services LLC Buys 2,342 Shares of PPL Co. (NYSE:PPL)

Wealth Enhancement Advisory Services LLC increased its stake in PPL Co. (NYSE:PPLFree Report) by 4.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 59,295 shares of the utilities provider’s stock after purchasing an additional 2,342 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in PPL were worth $1,632,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Glenmede Trust Co. NA lifted its holdings in PPL by 11.9% during the third quarter. Glenmede Trust Co. NA now owns 50,113 shares of the utilities provider’s stock valued at $1,181,000 after purchasing an additional 5,314 shares during the last quarter. Lido Advisors LLC raised its holdings in PPL by 4.4% during the 3rd quarter. Lido Advisors LLC now owns 83,064 shares of the utilities provider’s stock valued at $1,957,000 after acquiring an additional 3,517 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of PPL by 0.5% during the third quarter. The Manufacturers Life Insurance Company now owns 1,946,756 shares of the utilities provider’s stock worth $45,863,000 after acquiring an additional 10,036 shares in the last quarter. Toroso Investments LLC boosted its holdings in shares of PPL by 13.7% in the third quarter. Toroso Investments LLC now owns 33,572 shares of the utilities provider’s stock worth $791,000 after acquiring an additional 4,042 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of PPL by 5.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 172,915 shares of the utilities provider’s stock valued at $4,074,000 after purchasing an additional 8,165 shares in the last quarter. Hedge funds and other institutional investors own 76.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on PPL shares. Bank of America raised their target price on PPL from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Argus upgraded shares of PPL from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Friday, March 8th. StockNews.com raised shares of PPL from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Wells Fargo & Company upped their price target on shares of PPL from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Barclays lifted their price objective on PPL from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.36.

Check Out Our Latest Research Report on PPL

PPL Price Performance

PPL opened at $27.41 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.08 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $20.22 billion, a P/E ratio of 26.61, a PEG ratio of 2.36 and a beta of 0.81. The stock has a 50-day moving average price of $28.41 and a 200-day moving average price of $27.33. PPL Co. has a 12-month low of $22.20 and a 12-month high of $29.89.

PPL (NYSE:PPLGet Free Report) last issued its earnings results on Wednesday, May 1st. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.39 billion. PPL had a return on equity of 8.80% and a net margin of 9.29%. PPL’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 earnings per share. Equities analysts predict that PPL Co. will post 1.71 earnings per share for the current fiscal year.

PPL Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 10th were paid a dividend of $0.2575 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.76%. PPL’s dividend payout ratio (DPR) is currently 100.00%.

About PPL

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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