Creative Planning Purchases 3,892 Shares of PPL Co. (NYSE:PPL)

Creative Planning grew its position in shares of PPL Co. (NYSE:PPL) by 3.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,763 shares of the utilities provider’s stock after purchasing an additional 3,892 shares during the quarter. Creative Planning’s holdings in PPL were worth $3,796,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. bought a new position in PPL during the second quarter valued at approximately $29,000. Redwood Wealth Management Group LLC purchased a new stake in shares of PPL in the 2nd quarter valued at $29,000. Lynx Investment Advisory purchased a new position in PPL in the 2nd quarter worth $38,000. Family Firm Inc. bought a new stake in PPL in the second quarter worth $38,000. Finally, Central Pacific Bank Trust Division purchased a new stake in PPL during the first quarter valued at about $42,000. 76.99% of the stock is owned by hedge funds and other institutional investors.

PPL Stock Down 1.3 %

PPL stock opened at $32.43 on Friday. The company has a market capitalization of $23.92 billion, a price-to-earnings ratio of 31.49, a price-to-earnings-growth ratio of 2.79 and a beta of 0.82. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.91 and a current ratio of 1.11. The business’s 50 day moving average price is $32.23 and its two-hundred day moving average price is $29.79. PPL Co. has a fifty-two week low of $24.10 and a fifty-two week high of $33.38.

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

PPL Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were paid a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Tuesday, September 10th. PPL’s dividend payout ratio is 100.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PPL. Barclays lifted their price objective on PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Bank of America increased their price objective on PPL from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Morgan Stanley lifted their target price on shares of PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Jefferies Financial Group assumed coverage on shares of PPL in a report on Thursday, September 19th. They issued a “buy” rating and a $38.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.40.

About PPL

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.