PPL Co. (NYSE:PPL) Shares Purchased by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV increased its stake in shares of PPL Co. (NYSE:PPL) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,441 shares of the utilities provider’s stock after purchasing an additional 1,316 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in PPL were worth $1,339,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. acquired a new position in PPL during the 2nd quarter worth $29,000. Redwood Wealth Management Group LLC acquired a new position in PPL during the 2nd quarter worth $29,000. Lynx Investment Advisory acquired a new position in PPL during the 2nd quarter worth $38,000. Family Firm Inc. acquired a new position in PPL during the 2nd quarter worth $38,000. Finally, EverSource Wealth Advisors LLC grew its stake in PPL by 46.7% during the 4th 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 in the last quarter. 76.99% of the stock is owned by institutional investors and hedge funds.

PPL Stock Down 0.8 %

PPL stock opened at $32.58 on Wednesday. PPL Co. has a fifty-two week low of $22.20 and a fifty-two week high of $33.01. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.91 and a current ratio of 1.11. The company has a market capitalization of $24.04 billion, a P/E ratio of 31.63, a PEG ratio of 2.79 and a beta of 0.82. The stock has a 50-day simple moving average of $31.08 and a 200-day simple moving average of $28.99.

PPL (NYSE:PPL) last posted its earnings results on Friday, August 2nd. The utilities provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.05. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.92 billion. PPL had a return on equity of 9.26% and a net margin of 10.17%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 EPS. Equities research analysts expect that PPL Co. will post 1.72 earnings per share for the current year.

PPL Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Tuesday, September 10th. PPL’s dividend payout ratio is presently 100.00%.

Wall Street Analyst Weigh In

Several research firms recently commented on PPL. Jefferies Financial Group began coverage on PPL in a research report on Thursday, September 19th. They set a “buy” rating and a $38.00 price objective for the company. Wells Fargo & Company upped their price objective on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Morgan Stanley upped their price objective on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Bank of America upped their price objective on PPL from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.75.

About PPL

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.