Envestnet Portfolio Solutions Inc. Raises Stake in PPL Co. (NYSE:PPL)

by · The Markets Daily

Envestnet Portfolio Solutions Inc. raised its holdings in PPL Co. (NYSE:PPL – Free Report) by 7.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 73,819 shares of the utilities provider’s stock after purchasing an additional 5,410 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in PPL were worth $2,396,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of PPL. Kentucky Trust Co acquired a new position in PPL in the fourth quarter valued at $32,000. Rosenberg Matthew Hamilton increased its stake in PPL by 1,092.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 1,114 shares during the period. Larson Financial Group LLC increased its stake in PPL by 84.5% in the fourth quarter. Larson Financial Group LLC now owns 1,264 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 579 shares during the period. Newton One Investments LLC purchased a new stake in shares of PPL in the fourth quarter valued at about $49,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of PPL by 69.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,072 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 846 shares in the last quarter. 76.99% of the stock is currently owned by institutional investors and hedge funds.

PPL Stock Performance

Shares of PPL stock opened at $35.00 on Friday. PPL Co. has a one year low of $25.93 and a one year high of $35.91. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.71 and a current ratio of 0.86. The company has a 50 day moving average price of $33.93 and a 200 day moving average price of $33.17. The firm has a market capitalization of $25.84 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 2.77 and a beta of 0.76.

PPL (NYSE:PPL – Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). PPL had a return on equity of 8.88% and a net margin of 10.49%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.09 billion. Sell-side analysts anticipate that PPL Co. will post 1.83 EPS for the current year.

PPL Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $0.2725 per share. This is a positive change from PPL’s previous quarterly dividend of $0.26. The ex-dividend date is Monday, March 10th. This represents a $1.09 annualized dividend and a yield of 3.11%. PPL’s dividend payout ratio is 90.08%.

Insiders Place Their Bets

In other PPL news, insider John R. Crockett III sold 1,589 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $33.12, for a total transaction of $52,627.68. Following the completion of the sale, the insider now directly owns 10,845 shares in the company, valued at $359,186.40. The trade was a 12.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David J. Bonenberger sold 981 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $33.48, for a total transaction of $32,843.88. Following the sale, the chief operating officer now owns 45,414 shares of the company’s stock, valued at approximately $1,520,460.72. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,140 shares of company stock worth $173,005 over the last ninety days. 0.22% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PPL shares. Jefferies Financial Group lowered their target price on shares of PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Citigroup raised shares of PPL from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. BMO Capital Markets started coverage on shares of PPL in a report on Wednesday, December 11th. They set an “outperform” rating and a $36.00 price objective on the stock. Barclays boosted their price objective on shares of PPL from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 25th. Finally, Morgan Stanley boosted their price objective on shares of PPL from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.20.

Check Out Our Latest Report 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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