PNC Financial Services Group Inc. Decreases Stake in PPL Co. (NYSE:PPL)

PNC Financial Services Group Inc. lessened its holdings in PPL Co. (NYSE:PPL) by 3.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 514,269 shares of the utilities provider’s stock after selling 18,826 shares during the period. PNC Financial Services Group Inc. owned approximately 0.07% of PPL worth $17,012,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PPL. Fortitude Family Office LLC boosted its position in PPL by 195.5% in the third quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 516 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in PPL during the second quarter worth about $29,000. Redwood Wealth Management Group LLC bought a new stake in PPL in the second quarter worth about $29,000. Ashton Thomas Securities LLC purchased a new position in PPL in the third quarter valued at about $34,000. Finally, Lynx Investment Advisory purchased a new stake in shares of PPL during the 2nd quarter worth approximately $38,000. 76.99% of the stock is owned by institutional investors.

PPL Price Performance

PPL stock opened at $34.85 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.07 and a current ratio of 1.29. The firm has a market cap of $25.71 billion, a P/E ratio of 31.11, a P/E/G ratio of 2.94 and a beta of 0.81. The firm’s fifty day moving average is $32.71 and its 200 day moving average is $30.60. PPL Co. has a 52 week low of $25.35 and a 52 week high of $34.89.

PPL (NYSE:PPL) last released its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 EPS 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 for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the previous year, the business earned $0.43 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. Research analysts predict that PPL Co. will post 1.72 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley boosted their target price on PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. assumed coverage on shares of PPL in a research note on Friday, October 25th. They issued an “overweight” rating and a $37.00 price objective for the company. Jefferies Financial Group initiated coverage on PPL in a research report on Thursday, September 19th. They set a “buy” rating and a $38.00 target price on the stock. Wells Fargo & Company lifted their price target on PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Barclays raised their target price on PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

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.