Redwood Wealth Management Group LLC Makes New $29,000 Investment in PPL Co. (NYSE:PPL)

Redwood Wealth Management Group LLC acquired a new stake in shares of PPL Co. (NYSE:PPL) during the second quarter, Holdings Channel.com reports. The firm acquired 1,054 shares of the utilities provider’s stock, valued at approximately $29,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its position in PPL by 5.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 884,838 shares of the utilities provider’s stock worth $24,590,000 after purchasing an additional 46,552 shares during the period. Sei Investments Co. raised its holdings in shares of PPL by 7.5% in the first quarter. Sei Investments Co. now owns 866,256 shares of the utilities provider’s stock worth $23,848,000 after buying an additional 60,589 shares during the period. Wedge Capital Management L L P NC lifted its stake in shares of PPL by 8.7% during the 2nd quarter. Wedge Capital Management L L P NC now owns 496,165 shares of the utilities provider’s stock worth $13,719,000 after acquiring an additional 39,513 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in PPL by 52.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,336 shares of the utilities provider’s stock valued at $4,197,000 after acquiring an additional 52,870 shares during the period. Finally, Clearbridge Investments LLC grew its position in PPL by 50.3% in the 1st quarter. Clearbridge Investments LLC now owns 4,701,515 shares of the utilities provider’s stock valued at $129,433,000 after acquiring an additional 1,572,771 shares during the last quarter. Hedge funds and other institutional investors own 76.99% of the company’s stock.

PPL Stock Up 1.6 %

Shares of PPL stock opened at $32.46 on Monday. The firm’s 50 day moving average price is $30.45 and its 200-day moving average price is $28.71. The company has a market cap of $23.95 billion, a P/E ratio of 31.51, a PEG ratio of 2.73 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 52-week low of $22.20 and a 52-week high of $32.54.

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

PPL Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.2575 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $1.03 dividend on an annualized basis and a yield of 3.17%. PPL’s dividend payout ratio is currently 100.00%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PPL. Bank of America lifted their target price on PPL from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Morgan Stanley boosted their price objective on shares of PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Wells Fargo & Company raised their target price on shares of PPL from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, PPL presently has a consensus rating of “Moderate Buy” and an average target price of $33.18.

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.