Signature Estate & Investment Advisors LLC Purchases Shares of 13,602 PPL Co. (NYSE:PPL)

Signature Estate & Investment Advisors LLC bought a new stake in shares of PPL Co. (NYSE:PPL) during the second quarter, Holdings Channel.com reports. The fund bought 13,602 shares of the utilities provider’s stock, valued at approximately $376,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. International Assets Investment Management LLC grew its position in PPL by 2,647.8% during the fourth quarter. International Assets Investment Management LLC now owns 155,086 shares of the utilities provider’s stock valued at $4,203,000 after buying an additional 149,442 shares during the period. Signaturefd LLC raised its position in PPL by 49.6% during the fourth quarter. Signaturefd LLC now owns 5,213 shares of the utilities provider’s stock valued at $141,000 after purchasing an additional 1,729 shares during the period. Truist Financial Corp boosted its stake in PPL by 11.7% during the fourth quarter. Truist Financial Corp now owns 737,437 shares of the utilities provider’s stock worth $19,985,000 after buying an additional 76,974 shares during the period. Mather Group LLC. boosted its stake in shares of PPL by 8.7% during the 4th quarter. Mather Group LLC. now owns 11,975 shares of the utilities provider’s stock worth $325,000 after purchasing an additional 955 shares during the period. Finally, WealthTrust Axiom LLC grew its stake in shares of PPL by 10.7% during the fourth quarter. WealthTrust Axiom LLC now owns 12,147 shares of the utilities provider’s stock valued at $329,000 after buying an additional 1,170 shares during the last quarter. 76.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on PPL from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Mizuho lifted their price target on shares of PPL from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. StockNews.com raised shares of PPL from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Morgan Stanley raised their target price on shares of PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $32.82.

PPL Trading Down 0.2 %

Shares of NYSE:PPL traded down $0.06 during mid-day trading on Tuesday, reaching $31.85. 516,327 shares of the company were exchanged, compared to its average volume of 4,885,514. 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 firm has a market cap of $23.50 billion, a price-to-earnings ratio of 30.98, a P/E/G ratio of 2.66 and a beta of 0.81. The firm’s 50-day simple moving average is $29.24 and its 200 day simple moving average is $28.15. PPL Co. has a 1 year low of $22.20 and a 1 year high of $32.02.

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

PPL Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be issued a $0.2575 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.23%. PPL’s payout ratio is 100.00%.

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.