PPL Co. (NYSE:PPL) Shares Purchased by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. raised its stake in shares of PPL Co. (NYSE:PPL) by 1.7% in the 3rd quarter, Holdings Channel reports. The fund owned 17,696 shares of the utilities provider’s stock after acquiring an additional 301 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in PPL were worth $585,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PPL. Fortitude Family Office LLC raised its stake 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 worth $26,000 after purchasing an additional 516 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in PPL in the 2nd quarter valued at $29,000. Redwood Wealth Management Group LLC purchased a new position in PPL during the 2nd quarter worth $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of PPL in the 3rd quarter worth $34,000. Finally, Lynx Investment Advisory acquired a new stake in shares of PPL in the 2nd quarter worth $38,000. 76.99% of the stock is owned by institutional investors and hedge funds.

PPL Price Performance

PPL stock opened at $34.84 on Wednesday. The firm has a market capitalization of $25.71 billion, a PE ratio of 31.11, a P/E/G ratio of 2.97 and a beta of 0.81. PPL Co. has a 52 week low of $25.35 and a 52 week high of $35.00. The firm’s 50-day simple moving average is $32.83 and its 200 day simple moving average is $30.76. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.17.

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

PPL Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 2.96%. The ex-dividend date is Tuesday, December 10th. PPL’s payout ratio is 91.97%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PPL shares. JPMorgan Chase & Co. initiated coverage on shares of PPL in a report on Friday, October 25th. They set an “overweight” rating and a $37.00 price target for the company. Morgan Stanley increased their target price on 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 lifted their price target on PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Jefferies Financial Group assumed coverage on PPL in a report on Thursday, September 19th. They set a “buy” rating and a $38.00 price objective on the stock. Finally, Barclays raised their target price on PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, PPL presently has a consensus rating of “Moderate Buy” and an average price target of $35.50.

Insider Transactions at PPL

In other news, insider John R. Crockett III sold 9,161 shares of the business’s 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 owns 12,434 shares of the company’s stock, valued at $427,107.90. The trade was a 42.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.22% of the company’s stock.

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.