Estabrook Capital Management Has $38,000 Position in PPL Co. (NYSE:PPL)

Estabrook Capital Management cut its holdings in PPL Co. (NYSE:PPL) by 36.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,389 shares of the utilities provider’s stock after selling 802 shares during the period. Estabrook Capital Management’s holdings in PPL were worth $38,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in PPL. Norges Bank bought a new position in PPL in the 4th quarter worth approximately $115,605,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of PPL by 6.0% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 10,289 shares of the utilities provider’s stock worth $279,000 after acquiring an additional 586 shares during the last quarter. Coldstream Capital Management Inc. bought a new position in PPL during the fourth quarter worth $216,000. Wells Fargo & Company MN raised its stake in PPL by 3.8% during the 4th quarter. Wells Fargo & Company MN now owns 2,333,666 shares of the utilities provider’s stock valued at $63,242,000 after purchasing an additional 85,983 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in 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 and hedge funds own 76.99% of the company’s stock.

PPL Trading Up 2.1 %

Shares of PPL opened at $32.46 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 1.12. The stock has a market cap of $23.95 billion, a PE ratio of 31.51, a PEG ratio of 2.79 and a beta of 0.82. PPL Co. has a 1 year low of $22.20 and a 1 year high of $32.82. The stock has a 50 day simple moving average of $30.89 and a 200-day simple moving average of $28.89.

PPL (NYSE:PPL) last released 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. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.92 billion. PPL had a return on equity of 9.26% and a net margin of 10.17%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 earnings per share. On average, sell-side analysts predict that PPL Co. will post 1.72 EPS for the current fiscal year.

PPL Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be issued a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 3.17%. The ex-dividend date is Tuesday, September 10th. PPL’s dividend payout ratio is currently 100.00%.

Wall Street Analyst Weigh In

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