HighTower Advisors LLC Increases Stake in PPL Co. (NYSE:PPL)

HighTower Advisors LLC increased its position in shares of PPL Co. (NYSE:PPL) by 8.9% in the third quarter, Holdings Channel.com reports. The firm owned 160,417 shares of the utilities provider’s stock after purchasing an additional 13,169 shares during the quarter. HighTower Advisors LLC’s holdings in PPL were worth $5,305,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fortitude Family Office LLC boosted its position in shares of PPL by 195.5% during 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 period. Whittier Trust Co. of Nevada Inc. purchased a new position in PPL during the 2nd quarter valued at $29,000. Redwood Wealth Management Group LLC bought a new position in PPL in the 2nd quarter valued at $29,000. Ashton Thomas Securities LLC purchased a new stake in PPL in the third quarter worth $34,000. Finally, Family Firm Inc. bought a new stake in shares of PPL during the second quarter worth $38,000. 76.99% of the stock is owned by hedge funds and other institutional investors.

PPL Price Performance

PPL opened at $32.92 on Wednesday. The firm has a market capitalization of $24.29 billion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 2.90 and a beta of 0.82. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.29 and a quick ratio of 1.07. The business’s 50-day moving average is $33.14 and its two-hundred day moving average is $31.07. PPL Co. has a 1 year low of $25.35 and a 1 year high of $35.15.

PPL (NYSE:PPL) last issued its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. PPL had a net margin of 9.95% and a return on equity of 9.20%. 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 firm earned $0.43 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. Research analysts anticipate 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 will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.2575 per share. The ex-dividend date is Tuesday, December 10th. This represents a $1.03 annualized dividend and a dividend yield of 3.13%. PPL’s dividend payout ratio is presently 91.96%.

Insider Transactions at PPL

In related news, insider John R. Crockett III sold 9,161 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were 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 directly owns 12,434 shares of the company’s stock, valued at $427,107.90. This trade represents a 42.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on PPL shares. JPMorgan Chase & Co. initiated coverage on shares of PPL in a research note on Friday, October 25th. They issued an “overweight” rating and a $37.00 price target on the stock. Bank of America lifted their price target 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 assumed 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. Wells Fargo & Company lifted their target price on PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Morgan Stanley upped their target price on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.50.

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.