PPL Co. (NYSE:PPL) Shares Acquired by Swiss National Bank

Swiss National Bank lifted its stake in PPL Co. (NYSE:PPL) by 0.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,189,700 shares of the utilities provider’s stock after purchasing an additional 5,400 shares during the quarter. Swiss National Bank owned about 0.30% of PPL worth $72,435,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC increased its stake in shares of PPL by 195.5% in 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 during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in PPL during the second quarter worth about $29,000. Redwood Wealth Management Group LLC purchased a new position in PPL during the second quarter worth about $29,000. Ashton Thomas Securities LLC acquired a new position in PPL in the 3rd quarter valued at about $34,000. Finally, Lynx Investment Advisory purchased a new stake in shares of PPL in the 2nd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 76.99% of the company’s stock.

PPL Stock Up 0.4 %

PPL opened at $34.14 on Wednesday. PPL Co. has a one year low of $25.35 and a one year high of $34.16. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.07 and a current ratio of 1.29. The stock has a market capitalization of $25.19 billion, a P/E ratio of 30.48, a price-to-earnings-growth ratio of 2.91 and a beta of 0.81. The business’s 50-day simple moving average is $32.60 and its 200-day simple moving average is $30.55.

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

PPL Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were issued a $0.2575 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.02%. PPL’s payout ratio is 91.97%.

Analyst Ratings Changes

PPL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. assumed coverage on PPL in a report on Friday, October 25th. They set an “overweight” rating and a $37.00 price target for the company. Morgan Stanley upped their price objective on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Bank of America lifted their target price on PPL from $34.00 to $35.00 and gave the company a “buy” rating in a report on Monday, November 4th. Barclays boosted their target price on PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group assumed coverage on PPL in a research report on Thursday, September 19th. They issued a “buy” rating and a $38.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.