Huber Capital Management LLC Decreases Stock Holdings in PPL Co. (NYSE:PPL)

Huber Capital Management LLC lessened its stake in shares of PPL Co. (NYSE:PPL) by 3.4% during the second quarter, HoldingsChannel.com reports. The fund owned 64,746 shares of the utilities provider’s stock after selling 2,297 shares during the quarter. Huber Capital Management LLC’s holdings in PPL were worth $1,790,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. bought a new stake in PPL in the 2nd quarter worth approximately $29,000. Redwood Wealth Management Group LLC purchased a new stake in PPL during the second quarter valued at $29,000. Lynx Investment Advisory purchased a new stake in PPL during the second quarter valued at $38,000. Family Firm Inc. bought a new position in PPL in the second quarter valued at about $38,000. Finally, EverSource Wealth Advisors LLC boosted its position in PPL by 46.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,507 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 480 shares during the last quarter. 76.99% of the stock is currently owned by institutional investors.

PPL Price Performance

PPL stock opened at $32.46 on Friday. The company’s fifty day moving average price is $30.89 and its 200-day moving average price is $28.88. PPL Co. has a one year low of $22.20 and a one year high of $32.82. The company has a market capitalization of $23.95 billion, a PE ratio of 31.51, a price-to-earnings-growth ratio of 2.79 and a beta of 0.82. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.91 and a current ratio of 1.11.

PPL (NYSE:PPL) last issued its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.05. PPL had a return on equity of 9.26% and a net margin of 10.17%. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the prior year, the firm earned $0.29 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities analysts anticipate that PPL Co. will post 1.72 EPS for the current fiscal year.

PPL Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be issued a $0.2575 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.17%. PPL’s dividend payout ratio (DPR) is presently 100.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Wells Fargo & Company increased their price target on shares of PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Jefferies Financial Group assumed coverage on shares of PPL in a research report on Thursday. They set a “buy” rating and a $38.00 price objective for the company. Finally, Bank of America raised their target price on PPL from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.75.

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.