John R. Crockett III Sells 9,161 Shares of PPL Co. (NYSE:PPL) Stock

PPL Co. (NYSE:PPL) insider John R. Crockett III sold 9,161 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $34.35, for a total transaction of $314,680.35. Following the transaction, the insider now owns 12,434 shares in the company, valued at $427,107.90. This represents a 42.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

PPL Price Performance

NYSE PPL opened at $34.84 on Wednesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.29 and a quick ratio of 1.07. The firm has a market capitalization of $25.71 billion, a price-to-earnings ratio of 31.11, a price-to-earnings-growth ratio of 2.97 and a beta of 0.81. The company has a 50 day simple moving average of $32.83 and a 200-day simple moving average of $30.76. PPL Co. has a 52-week low of $25.35 and a 52-week high of $35.00.

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

PPL Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be paid a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Tuesday, December 10th. PPL’s payout ratio is presently 91.97%.

Hedge Funds Weigh In On PPL

Several hedge funds have recently bought and sold shares of PPL. Fortitude Family Office LLC boosted its stake 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 worth $26,000 after acquiring an additional 516 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in PPL in the 2nd quarter worth approximately $29,000. Redwood Wealth Management Group LLC bought a new stake in PPL during the second quarter worth approximately $29,000. Ashton Thomas Securities LLC acquired a new position in PPL during the third quarter valued at approximately $34,000. Finally, Lynx Investment Advisory bought a new position in shares of PPL in the second quarter valued at approximately $38,000. 76.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PPL shares. Wells Fargo & Company lifted their price target on PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Jefferies Financial Group assumed coverage on shares of PPL in a research report on Thursday, September 19th. They set a “buy” rating and a $38.00 price objective for the company. Morgan Stanley lifted their price objective on shares of PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Bank of America increased their target price on shares of PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. started coverage on shares of PPL in a research report on Friday, October 25th. They issued an “overweight” rating and a $37.00 price target on the stock. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.