Global Retirement Partners LLC Purchases 4,372 Shares of PPL Co. (NYSE:PPL)

Global Retirement Partners LLC increased its stake in shares of PPL Co. (NYSE:PPLFree Report) by 65.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,087 shares of the utilities provider’s stock after buying an additional 4,372 shares during the period. Global Retirement Partners LLC’s holdings in PPL were worth $297,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Centennial Wealth Advisory LLC lifted its position in PPL by 6.2% during the 4th quarter. Centennial Wealth Advisory LLC now owns 11,025 shares of the utilities provider’s stock worth $299,000 after buying an additional 643 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in PPL by 19.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 857,311 shares of the utilities provider’s stock worth $23,233,000 after buying an additional 142,136 shares in the last quarter. Pacer Advisors Inc. lifted its position in PPL by 282.4% during the 4th quarter. Pacer Advisors Inc. now owns 177,595 shares of the utilities provider’s stock worth $4,813,000 after buying an additional 131,152 shares in the last quarter. Bangor Savings Bank lifted its position in PPL by 4.0% during the 4th quarter. Bangor Savings Bank now owns 24,179 shares of the utilities provider’s stock worth $655,000 after buying an additional 934 shares in the last quarter. Finally, Insight Folios Inc lifted its position in PPL by 7.2% during the 4th quarter. Insight Folios Inc now owns 209,647 shares of the utilities provider’s stock worth $5,681,000 after buying an additional 14,145 shares in the last quarter. Institutional investors and hedge funds own 76.99% of the company’s stock.

PPL Stock Performance

Shares of NYSE:PPL opened at $27.48 on Wednesday. The company has a market capitalization of $20.27 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 2.49 and a beta of 0.81. The firm’s 50 day simple moving average is $26.52 and its 200 day simple moving average is $25.94. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.88 and a quick ratio of 0.73. PPL Co. has a fifty-two week low of $22.20 and a fifty-two week high of $29.03.

PPL (NYSE:PPLGet Free Report) last announced its quarterly earnings results on Friday, February 16th. The utilities provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.56 billion. PPL had a net margin of 8.90% and a return on equity of 8.45%. PPL’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same period last year, the company posted $0.28 EPS. As a group, sell-side analysts forecast that PPL Co. will post 1.71 earnings per share for the current year.

PPL Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were paid a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 3.75%. This is a boost from PPL’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, March 7th. PPL’s dividend payout ratio is presently 103.00%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $52.00 price target on shares of PPL in a research report on Wednesday, December 20th. Barclays upped their target price on shares of PPL from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. Royal Bank of Canada restated an “outperform” rating and set a $30.00 target price on shares of PPL in a research report on Wednesday, February 21st. StockNews.com downgraded shares of PPL from a “hold” rating to a “sell” rating in a research report on Saturday, February 24th. Finally, Argus upgraded shares of PPL from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.67.

Read Our Latest Stock Analysis on PPL

PPL Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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