Gateway Investment Advisers LLC Sells 1,393 Shares of PPL Co. (NYSE:PPL)

Gateway Investment Advisers LLC reduced its holdings in shares of PPL Co. (NYSE:PPL) by 7.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,485 shares of the utilities provider’s stock after selling 1,393 shares during the quarter. Gateway Investment Advisers LLC’s holdings in PPL were worth $545,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PPL. Wellington Management Group LLP acquired a new position in PPL in the fourth quarter valued at about $570,789,000. Point72 Asset Management L.P. raised its stake in PPL by 91.3% during the second quarter. Point72 Asset Management L.P. now owns 5,821,936 shares of the utilities provider’s stock worth $160,977,000 after acquiring an additional 2,778,820 shares in the last quarter. Electron Capital Partners LLC raised its stake in PPL by 71.3% during the second quarter. Electron Capital Partners LLC now owns 4,306,007 shares of the utilities provider’s stock worth $119,061,000 after acquiring an additional 1,792,200 shares in the last quarter. Clearbridge Investments LLC raised its stake in PPL by 50.3% during the first quarter. Clearbridge Investments LLC now owns 4,701,515 shares of the utilities provider’s stock worth $129,433,000 after acquiring an additional 1,572,771 shares in the last quarter. Finally, Bahl & Gaynor Inc. acquired a new position in PPL during the first quarter worth about $31,713,000. 76.99% of the stock is owned by institutional investors.

PPL Stock Up 0.8 %

Shares of NYSE:PPL opened at $31.71 on Monday. The company has a market capitalization of $23.39 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 2.72 and a beta of 0.82. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.11 and a quick ratio of 0.91. The business has a fifty day moving average price of $31.88 and a two-hundred day moving average price of $29.49. PPL Co. has a 1 year low of $23.36 and a 1 year high of $33.38.

PPL (NYSE:PPL) last announced its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.05. PPL had a return on equity of 9.26% and a net margin of 10.17%. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the firm posted $0.29 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. Analysts forecast that PPL Co. will post 1.72 earnings per share for the current year.

PPL Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were issued a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Tuesday, September 10th. PPL’s payout ratio is presently 100.00%.

Wall Street Analysts Forecast Growth

PPL has been the subject of several research analyst reports. Morgan Stanley boosted their target price on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Wells Fargo & Company boosted their price target on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Bank of America upped their target price on PPL from $33.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Jefferies Financial Group initiated coverage on PPL in a report on Thursday, September 19th. They issued a “buy” rating and a $38.00 target price on the stock. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.56.

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.