First County Bank CT Sells 6,802 Shares of PPL Co. (NYSE:PPL)

First County Bank CT decreased its stake in PPL Co. (NYSE:PPL) by 27.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,391 shares of the utilities provider’s stock after selling 6,802 shares during the period. First County Bank CT’s holdings in PPL were worth $608,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC raised its holdings in shares of PPL by 195.5% during the 3rd quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock valued at $26,000 after buying an additional 516 shares in the last quarter. 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 position in shares of PPL during the second quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new stake in shares of PPL in the 3rd quarter worth approximately $34,000. Finally, Lynx Investment Advisory purchased a new stake in shares of PPL in the 2nd quarter valued at $38,000. 76.99% of the stock is currently owned by hedge funds and other institutional investors.

PPL Trading Up 1.7 %

PPL stock opened at $34.85 on Friday. PPL Co. has a 12 month low of $25.35 and a 12 month high of $34.89. The company has a current ratio of 1.29, a quick ratio of 1.07 and a debt-to-equity ratio of 1.17. The business’s fifty day simple moving average is $32.71 and its two-hundred day simple moving average is $30.60. The company has a market capitalization of $25.71 billion, a price-to-earnings ratio of 31.11, a price-to-earnings-growth ratio of 2.94 and a beta of 0.81.

PPL (NYSE:PPL) last posted its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. PPL had a net margin of 9.95% and a return on equity of 9.20%. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the prior year, the company posted $0.43 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities analysts predict that PPL Co. will post 1.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. began coverage on shares of PPL in a research 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 PPL in a research note on Thursday, September 19th. They issued a “buy” rating and a $38.00 target price for the company. Bank of America raised their price target on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Morgan Stanley boosted their price objective on 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 $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.50.

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.