Kingsview Wealth Management LLC Buys 672 Shares of PPL Co. (NYSE:PPL)

Kingsview Wealth Management LLC raised its stake in PPL Co. (NYSE:PPL) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,712 shares of the utilities provider’s stock after purchasing an additional 672 shares during the period. Kingsview Wealth Management LLC’s holdings in PPL were worth $884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC grew its position in shares of PPL by 195.5% in the 3rd quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock worth $26,000 after buying an additional 516 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in PPL during the third quarter valued at approximately $34,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in PPL in the second quarter valued at approximately $29,000. Redwood Wealth Management Group LLC purchased a new position in PPL in the second quarter worth $29,000. Finally, Lynx Investment Advisory acquired a new position in shares of PPL during the second quarter worth $38,000. 76.99% of the stock is currently owned by institutional investors.

PPL Stock Performance

NYSE PPL opened at $34.84 on Wednesday. The firm has a market capitalization of $25.71 billion, a P/E ratio of 31.11, a PEG ratio of 2.97 and a beta of 0.81. The stock has a 50-day simple moving average of $32.83 and a two-hundred day simple moving average of $30.76. 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 fifty-two week low of $25.35 and a fifty-two week high of $35.00.

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

PPL Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be issued a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Tuesday, December 10th. PPL’s dividend payout ratio (DPR) is presently 91.97%.

Analyst Ratings Changes

PPL has been the subject of a number of recent analyst reports. Barclays raised their price objective on PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. began coverage on shares of PPL in a research report on Friday, October 25th. They issued an “overweight” rating and a $37.00 price objective for the company. Jefferies Financial Group initiated coverage on shares of PPL in a report on Thursday, September 19th. They set a “buy” rating and a $38.00 price objective on the stock. Bank of America upped their target price on PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Morgan Stanley lifted their price target on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

Insider Activity at PPL

In related news, insider John R. Crockett III sold 9,161 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $34.35, for a total value of $314,680.35. Following the completion of the transaction, the insider now owns 12,434 shares of the company’s stock, valued at approximately $427,107.90. This represents a 42.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is owned by company insiders.

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.