Grandview Asset Management LLC Cuts Holdings in PPL Co. (NYSE:PPL)

Grandview Asset Management LLC lessened its position in PPL Co. (NYSE:PPL) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 160,626 shares of the utilities provider’s stock after selling 832 shares during the quarter. PPL makes up about 3.0% of Grandview Asset Management LLC’s portfolio, making the stock its 7th biggest position. Grandview Asset Management LLC’s holdings in PPL were worth $5,314,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PPL. NEOS Investment Management LLC bought a new position in shares of PPL in the 4th quarter valued at about $284,000. Rafferty Asset Management LLC grew its stake in shares of PPL by 9.5% in the fourth quarter. Rafferty Asset Management LLC now owns 82,243 shares of the utilities provider’s stock valued at $2,229,000 after buying an additional 7,127 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in PPL by 92.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 96,100 shares of the utilities provider’s stock worth $2,604,000 after buying an additional 46,092 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in PPL by 1,642.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 65,620 shares of the utilities provider’s stock worth $1,778,000 after acquiring an additional 61,853 shares in the last quarter. Finally, Cibc World Markets Corp grew its position in shares of PPL by 133.2% in the 4th quarter. Cibc World Markets Corp now owns 94,876 shares of the utilities provider’s stock valued at $2,571,000 after acquiring an additional 54,193 shares during the period. Institutional investors own 76.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PPL shares. Bank of America upped their target price on shares of PPL from $33.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Jefferies Financial Group initiated coverage on PPL in a research note on Thursday, September 19th. They issued a “buy” rating and a $38.00 price objective on the stock. Wells Fargo & Company lifted their target price on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Morgan Stanley increased their price target on PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.55.

PPL Stock Performance

NYSE PPL traded down $0.20 on Friday, reaching $32.55. The stock had a trading volume of 4,305,732 shares, compared to its average volume of 4,895,682. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.11 and a quick ratio of 0.91. The company has a market cap of $24.01 billion, a P/E ratio of 31.60, a price-to-earnings-growth ratio of 2.81 and a beta of 0.82. The firm has a fifty day moving average of $31.70 and a two-hundred day moving average of $29.31. PPL Co. has a 1-year low of $22.35 and a 1-year high of $33.38.

PPL (NYSE:PPL) last released its quarterly 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 business had revenue of $1.88 billion for 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%. PPL’s revenue 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, equities research analysts anticipate that PPL Co. will post 1.72 EPS for the current year.

PPL Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were given a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date was Tuesday, September 10th. PPL’s dividend payout ratio is currently 100.00%.

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.