Concurrent Investment Advisors LLC Lowers Stake in PPL Co. (NYSE:PPL)

Concurrent Investment Advisors LLC lessened its position in PPL Co. (NYSE:PPL) by 5.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,466 shares of the utilities provider’s stock after selling 463 shares during the period. Concurrent Investment Advisors LLC’s holdings in PPL were worth $247,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Clearbridge Investments LLC raised its stake in shares of PPL by 25.3% during the 2nd quarter. Clearbridge Investments LLC now owns 5,890,854 shares of the utilities provider’s stock worth $162,882,000 after buying an additional 1,189,339 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in PPL by 91.3% in the second quarter. Point72 Asset Management L.P. now owns 5,821,936 shares of the utilities provider’s stock valued at $160,977,000 after purchasing an additional 2,778,820 shares during the period. Electron Capital Partners LLC raised its position in shares of PPL by 71.3% in the 2nd quarter. Electron Capital Partners LLC now owns 4,306,007 shares of the utilities provider’s stock worth $119,061,000 after buying an additional 1,792,200 shares during the period. Bank of Montreal Can grew its holdings in shares of PPL by 3.4% during the 2nd quarter. Bank of Montreal Can now owns 3,228,776 shares of the utilities provider’s stock worth $89,808,000 after purchasing an additional 104,662 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of PPL by 8.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,571,253 shares of the utilities provider’s stock worth $71,098,000 after acquiring an additional 202,296 shares in the last quarter. Institutional investors and hedge funds own 76.99% of the company’s stock.

PPL Price Performance

PPL stock opened at $33.47 on Tuesday. The business’s fifty day moving average is $32.40 and its two-hundred day moving average is $30.25. The firm has a market cap of $24.70 billion, a P/E ratio of 29.52, a P/E/G ratio of 2.82 and a beta of 0.81. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.07 and a current ratio of 1.29. PPL Co. has a 52 week low of $24.93 and a 52 week high of $33.58.

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

PPL Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors 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 3.08%. The ex-dividend date of this dividend was Tuesday, September 10th. PPL’s payout ratio is presently 91.97%.

Analyst Ratings Changes

PPL has been the topic of a number of analyst reports. Barclays lifted their target price on PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Wells Fargo & Company increased their price objective on shares of PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Bank of America raised their target price on shares of PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Jefferies Financial Group began coverage on PPL in a research note on Thursday, September 19th. They issued a “buy” rating and a $38.00 price objective on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of PPL in a report on Friday, October 25th. They issued an “overweight” rating and a $37.00 target price on the stock. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

PPL 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.