PPL Co. (NYSE:PPL) Shares Sold by First Bank & Trust

First Bank & Trust reduced its stake in PPL Co. (NYSE:PPL) by 4.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 46,415 shares of the utilities provider’s stock after selling 2,028 shares during the quarter. First Bank & Trust’s holdings in PPL were worth $1,535,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PPL. Point72 Asset Management L.P. lifted its holdings in shares of PPL by 91.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,821,936 shares of the utilities provider’s stock worth $160,977,000 after acquiring an additional 2,778,820 shares during the last quarter. Electron Capital Partners LLC lifted its holdings in PPL by 71.3% during the 2nd quarter. Electron Capital Partners LLC now owns 4,306,007 shares of the utilities provider’s stock worth $119,061,000 after buying an additional 1,792,200 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in PPL by 50.3% during the 1st quarter. Clearbridge Investments LLC now owns 4,701,515 shares of the utilities provider’s stock worth $129,433,000 after buying an additional 1,572,771 shares in the last quarter. Bahl & Gaynor Inc. acquired a new stake in PPL during the 1st quarter worth approximately $31,713,000. Finally, Jennison Associates LLC lifted its holdings in PPL by 21.8% during the 1st quarter. Jennison Associates LLC now owns 4,217,410 shares of the utilities provider’s stock worth $116,105,000 after buying an additional 755,689 shares in the last quarter. 76.99% of the stock is currently owned by institutional investors and hedge funds.

PPL Stock Performance

NYSE:PPL traded down $0.44 during trading hours on Friday, reaching $32.43. 3,000,950 shares of the company’s stock were exchanged, compared to its average volume of 4,805,356. The firm has a market capitalization of $23.92 billion, a price-to-earnings ratio of 31.49, a P/E/G ratio of 2.79 and a beta of 0.82. The company has a 50-day moving average of $32.26 and a 200 day moving average of $29.82. 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 1-year low of $24.10 and a 1-year high of $33.38.

PPL (NYSE:PPL) last issued its quarterly earnings results on Friday, August 2nd. The utilities provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. PPL had a net margin of 10.17% and a return on equity of 9.26%. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the prior year, the business earned $0.29 EPS. PPL’s quarterly revenue was up 3.2% compared to the same quarter last year. Research analysts anticipate that PPL Co. will post 1.72 EPS for the current year.

PPL Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were paid a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Tuesday, September 10th. PPL’s dividend payout ratio (DPR) is 100.00%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Bank of America increased their target price on shares of PPL from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. assumed coverage on shares of PPL in a report on Friday. They set an “overweight” rating and a $37.00 target price on the stock. Barclays increased their target price on shares of PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Jefferies Financial Group began coverage on shares of PPL in a research report on Thursday, September 19th. They issued a “buy” rating and a $38.00 price objective on the stock. Finally, Wells Fargo & Company increased their price objective on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, PPL has a consensus rating of “Moderate Buy” and an average price target of $35.40.

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.