Gabelli Funds LLC Sells 3,000 Shares of PPL Co. (NYSE:PPL)

Gabelli Funds LLC lowered its position in shares of PPL Co. (NYSE:PPL) by 0.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 575,132 shares of the utilities provider’s stock after selling 3,000 shares during the quarter. Gabelli Funds LLC owned 0.08% of PPL worth $15,902,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PPL. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of PPL in the 2nd quarter valued at approximately $29,000. Redwood Wealth Management Group LLC bought a new position in PPL in the second quarter valued at approximately $29,000. Lynx Investment Advisory bought a new position in PPL in the second quarter valued at approximately $38,000. Family Firm Inc. acquired a new position in shares of PPL in the second quarter valued at approximately $38,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of PPL by 46.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,507 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 480 shares in the last quarter. Institutional investors own 76.99% of the company’s stock.

PPL Trading Up 1.2 %

Shares of PPL stock opened at $32.84 on Tuesday. The stock has a market cap of $24.23 billion, a P/E ratio of 31.88, a P/E/G ratio of 2.79 and a beta of 0.82. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 1.12. PPL Co. has a 12-month low of $22.20 and a 12-month high of $32.92. The business’s 50 day moving average is $30.99 and its 200-day moving average is $28.95.

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

PPL Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Tuesday, September 10th. PPL’s payout ratio is currently 100.00%.

Wall Street Analyst Weigh In

PPL has been the subject of a number of research analyst reports. Bank of America upped their target price 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. Wells Fargo & Company upped their price objective on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Morgan Stanley lifted their target price on PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Jefferies Financial Group initiated coverage on PPL in a research report on Thursday, September 19th. They set a “buy” rating and a $38.00 price target for the company. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, PPL has an average rating of “Moderate Buy” and a consensus price target of $33.75.

PPL Company 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.