PPL Co. (NYSE:PPL) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of PPL Co. (NYSE:PPL) by 9.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,344 shares of the utilities provider’s stock after buying an additional 6,433 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in PPL were worth $2,525,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in PPL. Whittier Trust Co. of Nevada Inc. bought a new stake in PPL in the second quarter valued at about $29,000. Redwood Wealth Management Group LLC bought a new stake in shares of PPL in the 2nd quarter valued at approximately $29,000. Lynx Investment Advisory bought a new stake in shares of PPL in the 2nd quarter valued at approximately $38,000. Family Firm Inc. acquired a new stake in shares of PPL during the 2nd quarter valued at approximately $38,000. Finally, Central Pacific Bank Trust Division bought a new position in PPL during the first quarter worth $42,000. Institutional investors own 76.99% of the company’s stock.

PPL Stock Performance

Shares of PPL stock opened at $32.73 on Tuesday. PPL Co. has a 12-month low of $23.36 and a 12-month high of $33.38. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.11 and a quick ratio of 0.91. The firm has a market capitalization of $24.15 billion, a price-to-earnings ratio of 31.78, a price-to-earnings-growth ratio of 2.74 and a beta of 0.82. The business has a 50 day simple moving average of $32.12 and a 200 day simple moving average of $29.70.

PPL (NYSE:PPL) last released its quarterly earnings results 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. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.92 billion. PPL had a return on equity of 9.26% and a net margin of 10.17%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.29 earnings per share. On average, equities research analysts anticipate that PPL Co. will post 1.72 EPS for the current year.

PPL Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were given a dividend of $0.2575 per share. The ex-dividend date was Tuesday, September 10th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.15%. PPL’s dividend payout ratio (DPR) is 100.00%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wells Fargo & Company increased their target price 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 increased their price objective on shares of PPL from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Barclays lifted their target price on PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a research note on Monday. Jefferies Financial Group began coverage on PPL in a research report on Thursday, September 19th. They set a “buy” rating and a $38.00 price target on the stock. Finally, Morgan Stanley boosted their price objective on PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, PPL currently has an average rating of “Moderate Buy” and an average price target of $35.22.

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.