PPL Co. (NYSE:PPL) Stock Holdings Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its position in PPL Co. (NYSE:PPL) by 82.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,992 shares of the utilities provider’s stock after selling 172,621 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in PPL were worth $1,191,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bernardo Wealth Planning LLC bought a new position in shares of PPL during the third quarter valued at $203,000. Raymond James & Associates boosted its position in PPL by 27.3% during the 3rd quarter. Raymond James & Associates now owns 1,928,046 shares of the utilities provider’s stock worth $63,780,000 after acquiring an additional 413,517 shares during the last quarter. Capital Investment Advisors LLC bought a new stake in PPL during the third quarter worth about $205,000. Blue Trust Inc. grew its position in shares of PPL by 91.5% in the 3rd quarter. Blue Trust Inc. now owns 7,719 shares of the utilities provider’s stock valued at $255,000 after acquiring an additional 3,689 shares during the period. Finally, Addison Capital Co acquired a new position in PPL during the third quarter worth approximately $223,000. 76.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PPL shares. Bank of America boosted their price target on PPL from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Wells Fargo & Company lifted their target price on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Barclays increased their price objective on shares of PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Morgan Stanley lifted their target price on PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. initiated coverage on shares of PPL in a research note on Friday, October 25th. They issued an “overweight” rating and a $37.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, PPL presently has an average rating of “Moderate Buy” and an average target price of $35.40.

PPL Price Performance

PPL stock opened at $32.56 on Friday. The stock has a market cap of $24.02 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 2.77 and a beta of 0.82. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 1.12. PPL Co. has a fifty-two week low of $24.24 and a fifty-two week high of $33.38. The business has a 50 day moving average price of $32.33 and a 200 day moving average price of $29.97.

PPL (NYSE:PPL) last released its earnings results 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. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.92 billion. PPL had a net margin of 10.17% and a return on equity of 9.26%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the company earned $0.29 earnings per share. Equities research analysts anticipate that PPL Co. will post 1.72 earnings per share for the current fiscal year.

PPL Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were issued a $0.2575 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.03 annualized dividend and a yield of 3.16%. PPL’s dividend payout ratio is currently 90.35%.

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.