International Assets Investment Management LLC Has $6.42 Million Stock Position in PPL Co. (NYSE:PPL)

International Assets Investment Management LLC grew its stake in shares of PPL Co. (NYSE:PPL) by 3,322.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 212,423 shares of the utilities provider’s stock after purchasing an additional 206,216 shares during the period. International Assets Investment Management LLC’s holdings in PPL were worth $6,421,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PPL. Point72 Asset Management L.P. raised its holdings in shares of PPL by 91.3% during the second quarter. Point72 Asset Management L.P. now owns 5,821,936 shares of the utilities provider’s stock valued at $160,977,000 after purchasing an additional 2,778,820 shares during the period. Electron Capital Partners LLC raised its holdings in shares of PPL by 71.3% in the 2nd quarter. Electron Capital Partners LLC now owns 4,306,007 shares of the utilities provider’s stock worth $119,061,000 after acquiring an additional 1,792,200 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of PPL by 50.3% in the 1st quarter. Clearbridge Investments LLC now owns 4,701,515 shares of the utilities provider’s stock worth $129,433,000 after acquiring an additional 1,572,771 shares during the last quarter. Bahl & Gaynor Inc. acquired a new stake in shares of PPL in the 1st quarter worth about $31,713,000. Finally, Jennison Associates LLC raised its holdings in shares of PPL by 21.8% in the 1st quarter. Jennison Associates LLC now owns 4,217,410 shares of the utilities provider’s stock worth $116,105,000 after acquiring an additional 755,689 shares during the last quarter. Institutional investors and hedge funds own 76.99% of the company’s stock.

PPL Stock Performance

NYSE PPL opened at $32.56 on Friday. PPL Co. has a 52-week low of $24.24 and a 52-week high of $33.38. 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 company has a market capitalization of $24.02 billion, a P/E ratio of 28.56, a P/E/G ratio of 2.77 and a beta of 0.82. The company has a fifty day moving average of $32.33 and a 200-day moving average of $29.97.

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. PPL had a net margin of 10.17% and a return on equity of 9.26%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the previous year, the firm posted $0.29 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. As a group, equities research analysts predict that PPL Co. will post 1.72 EPS for the current fiscal year.

PPL Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were paid a $0.2575 dividend. This represents a $1.03 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Tuesday, September 10th. PPL’s dividend payout ratio is presently 90.35%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. JPMorgan Chase & Co. assumed coverage on shares of PPL in a report on Friday, October 25th. They issued an “overweight” rating and a $37.00 target price on the stock. Jefferies Financial Group began coverage on shares of PPL in a report on Thursday, September 19th. They issued a “buy” rating and a $38.00 target price on the stock. Barclays increased their price objective on shares of PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Morgan Stanley increased their price objective on shares of PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, PPL presently has a consensus rating of “Moderate Buy” and an average target price 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.