Addison Capital Co Takes $223,000 Position in PPL Co. (NYSE:PPL)

Addison Capital Co purchased a new position in PPL Co. (NYSE:PPL) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,742 shares of the utilities provider’s stock, valued at approximately $223,000.

A number of other institutional investors also recently bought and sold shares of PPL. Leelyn Smith LLC grew its stake in PPL by 0.4% in the second quarter. Leelyn Smith LLC now owns 79,887 shares of the utilities provider’s stock valued at $2,209,000 after purchasing an additional 331 shares during the last quarter. TFC Financial Management Inc. boosted its holdings in PPL by 15.7% in the second quarter. TFC Financial Management Inc. now owns 2,611 shares of the utilities provider’s stock worth $72,000 after acquiring an additional 355 shares in the last quarter. Centennial Wealth Advisory LLC boosted its holdings in PPL by 3.4% in the second quarter. Centennial Wealth Advisory LLC now owns 11,250 shares of the utilities provider’s stock worth $311,000 after acquiring an additional 366 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in PPL by 3.1% in the third quarter. Valeo Financial Advisors LLC now owns 12,360 shares of the utilities provider’s stock worth $409,000 after acquiring an additional 370 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in PPL by 1.4% in the third quarter. Exchange Traded Concepts LLC now owns 26,264 shares of the utilities provider’s stock worth $869,000 after acquiring an additional 370 shares in the last quarter. 76.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PPL. Wells Fargo & Company raised their price target on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Morgan Stanley lifted their target price on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Bank of America lifted their target price on PPL from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Jefferies Financial Group began coverage on PPL in a report on Thursday, September 19th. They set a “buy” rating and a $38.00 target price for the company. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, PPL currently has an average rating of “Moderate Buy” and an average price target of $34.56.

PPL Stock Down 0.3 %

Shares of PPL stock opened at $32.26 on Friday. The stock has a 50 day moving average of $32.04 and a 200 day moving average of $29.60. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 1.12. The stock has a market cap of $23.80 billion, a P/E ratio of 31.43, a P/E/G ratio of 2.72 and a beta of 0.82. PPL Co. has a twelve month low of $23.36 and a twelve month high of $33.38.

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

PPL Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were given a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Tuesday, September 10th. PPL’s dividend payout ratio (DPR) is presently 100.00%.

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.