abrdn plc Acquires 185,491 Shares of PPL Co. (NYSE:PPL)

abrdn plc increased its holdings in shares of PPL Co. (NYSE:PPL) by 26.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 891,238 shares of the utilities provider’s stock after purchasing an additional 185,491 shares during the period. abrdn plc owned approximately 0.12% of PPL worth $29,469,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Nisa Investment Advisors LLC boosted its holdings in shares of PPL by 38.9% in the third quarter. Nisa Investment Advisors LLC now owns 375,772 shares of the utilities provider’s stock valued at $12,633,000 after buying an additional 105,310 shares during the period. Morton Brown Family Wealth LLC increased its holdings in PPL by 1,988.4% during the 3rd quarter. Morton Brown Family Wealth LLC now owns 5,221 shares of the utilities provider’s stock worth $173,000 after purchasing an additional 4,971 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of PPL in the 3rd quarter valued at about $253,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of PPL by 4.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 60,749 shares of the utilities provider’s stock valued at $2,010,000 after purchasing an additional 2,474 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of PPL by 35.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,220 shares of the utilities provider’s stock worth $1,585,000 after buying an additional 12,609 shares during the period. 76.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PPL has been the topic of several research reports. 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. Wells Fargo & Company raised their target price on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Barclays boosted their price target on shares of PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Jefferies Financial Group started coverage on PPL in a report on Thursday, September 19th. They issued a “buy” rating and a $38.00 price objective for the company. Finally, JPMorgan Chase & Co. initiated coverage on PPL in a report on Friday, October 25th. They set an “overweight” rating and a $37.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.40.

PPL Stock Up 0.4 %

Shares of PPL opened at $32.24 on Thursday. The firm has a market cap of $23.79 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 2.77 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 Co. has a 52 week low of $24.24 and a 52 week high of $33.38. The firm’s 50-day simple moving average is $32.31 and its 200 day simple moving average is $29.96.

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

PPL Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were given a $0.2575 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.19%. PPL’s payout ratio is presently 90.35%.

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.