Bangor Savings Bank Increases Stake in PPL Co. (NYSE:PPL)

Bangor Savings Bank raised its holdings in shares of PPL Co. (NYSE:PPL) by 4.1% in the first quarter, Holdings Channel reports. The institutional investor owned 25,170 shares of the utilities provider’s stock after acquiring an additional 991 shares during the period. Bangor Savings Bank’s holdings in PPL were worth $693,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in PPL by 179.8% during the fourth quarter. Allworth Financial LP now owns 1,038 shares of the utilities provider’s stock valued at $28,000 after buying an additional 667 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of PPL in the fourth quarter worth approximately $30,000. Anchor Investment Management LLC bought a new position in shares of PPL in the fourth quarter worth approximately $35,000. Massmutual Trust Co. FSB ADV boosted its position in shares of PPL by 138.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,371 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 797 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of PPL by 46.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,507 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 480 shares during the period. 76.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of PPL from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Barclays upped their target price on shares of PPL from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. StockNews.com upgraded shares of PPL from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Wells Fargo & Company upped their target price on shares of PPL from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, Mizuho upped their target price on shares of PPL from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.45.

PPL Trading Down 0.3 %

NYSE:PPL opened at $27.96 on Monday. PPL Co. has a one year low of $22.20 and a one year high of $29.89. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.08 and a current ratio of 1.28. The firm has a market cap of $20.63 billion, a P/E ratio of 27.15, a P/E/G ratio of 2.41 and a beta of 0.82. The firm has a 50-day simple moving average of $28.26 and a 200-day simple moving average of $27.26.

PPL (NYSE:PPL) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. PPL had a net margin of 9.29% and a return on equity of 8.80%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the previous year, the business posted $0.48 EPS. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. Equities analysts anticipate that PPL Co. will post 1.71 EPS for the current fiscal year.

PPL Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be given a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 3.68%. The ex-dividend date is Monday, June 10th. PPL’s dividend payout ratio is presently 100.00%.

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.