Resources Management Corp CT ADV Trims Stake in PPL Co. (NYSE:PPL)

Resources Management Corp CT ADV cut its stake in shares of PPL Co. (NYSE:PPL) by 7.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,575 shares of the utilities provider’s stock after selling 500 shares during the period. Resources Management Corp CT ADV’s holdings in PPL were worth $182,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PPL. Whittier Trust Co. of Nevada Inc. purchased a new stake in PPL during the 2nd quarter valued at approximately $29,000. Redwood Wealth Management Group LLC purchased a new position in PPL during the second quarter valued at $29,000. Lynx Investment Advisory bought a new stake in PPL in the 2nd quarter valued at $38,000. Family Firm Inc. purchased a new stake in PPL in the 2nd quarter worth $38,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of PPL by 46.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,507 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 480 shares during the last quarter. Institutional investors own 76.99% of the company’s stock.

PPL Trading Down 0.8 %

Shares of PPL stock opened at $32.58 on Wednesday. The firm has a 50-day simple moving average of $31.08 and a two-hundred day simple moving average of $28.99. 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 fifty-two week low of $22.20 and a fifty-two week high of $33.01. The company has a market cap of $24.04 billion, a P/E ratio of 31.63, a price-to-earnings-growth ratio of 2.80 and a beta of 0.82.

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

PPL Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.2575 per share. The ex-dividend date is Tuesday, September 10th. This represents a $1.03 annualized dividend and a dividend yield of 3.16%. PPL’s dividend payout ratio is presently 100.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Morgan Stanley lifted 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. Jefferies Financial Group started coverage on PPL in a research note on Thursday, September 19th. They set a “buy” rating and a $38.00 price objective on the stock. Bank of America raised 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. Finally, Wells Fargo & Company upped their target price on PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.