Amalgamated Bank Has $4.80 Million Stock Holdings in PPL Co. (NYSE:PPL)

Amalgamated Bank reduced its position in PPL Co. (NYSE:PPL) by 3.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 145,004 shares of the utilities provider’s stock after selling 4,883 shares during the period. Amalgamated Bank’s holdings in PPL were worth $4,797,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its position in shares of PPL by 195.5% in the third quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock valued at $26,000 after buying an additional 516 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in PPL during the second quarter worth $29,000. Redwood Wealth Management Group LLC acquired a new position in shares of PPL in the second quarter valued at $29,000. Lynx Investment Advisory bought a new position in shares of PPL in the second quarter valued at about $38,000. Finally, Family Firm Inc. bought a new stake in shares of PPL during the 2nd quarter worth about $38,000. Institutional investors and hedge funds own 76.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on PPL. Wells Fargo & Company increased their price target on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Bank of America lifted their price target on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Monday. Jefferies Financial Group started coverage on PPL in a research note on Thursday, September 19th. They issued a “buy” rating and a $38.00 price target for the company. JPMorgan Chase & Co. started coverage on PPL in a research report on Friday, October 25th. They set an “overweight” rating and a $37.00 price objective on the stock. Finally, Barclays upped their price target 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. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.50.

PPL Price Performance

PPL stock opened at $32.35 on Friday. The company’s 50-day moving average price is $32.36 and its two-hundred day moving average price is $30.16. PPL Co. has a 12 month low of $24.93 and a 12 month high of $33.38. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.17. The firm has a market cap of $23.87 billion, a P/E ratio of 28.88, a P/E/G ratio of 2.74 and a beta of 0.81.

PPL (NYSE:PPL) last released its earnings results on Friday, November 1st. The utilities provider reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. PPL had a return on equity of 9.20% and a net margin of 9.95%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the prior year, the company earned $0.43 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, analysts anticipate that PPL Co. will post 1.72 earnings per share for the current fiscal year.

PPL Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were paid a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Tuesday, September 10th. PPL’s payout ratio is 91.96%.

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.