PPL Co. (NYSE:PPL) Shares Acquired by Morton Brown Family Wealth LLC

Morton Brown Family Wealth LLC raised its holdings in PPL Co. (NYSE:PPL) by 1,988.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,221 shares of the utilities provider’s stock after purchasing an additional 4,971 shares during the period. Morton Brown Family Wealth LLC’s holdings in PPL were worth $173,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Leelyn Smith LLC raised its holdings in shares of PPL by 0.4% during the second quarter. Leelyn Smith LLC now owns 79,887 shares of the utilities provider’s stock worth $2,209,000 after purchasing an additional 331 shares during the period. TFC Financial Management Inc. lifted its holdings in PPL by 15.7% in the second quarter. TFC Financial Management Inc. now owns 2,611 shares of the utilities provider’s stock worth $72,000 after purchasing an additional 355 shares during the period. Centennial Wealth Advisory LLC grew its position in PPL by 3.4% in the 2nd quarter. Centennial Wealth Advisory LLC now owns 11,250 shares of the utilities provider’s stock valued at $311,000 after buying an additional 366 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in PPL by 3.1% during the 3rd quarter. Valeo Financial Advisors LLC now owns 12,360 shares of the utilities provider’s stock valued at $409,000 after buying an additional 370 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in shares of PPL by 1.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 26,264 shares of the utilities provider’s stock worth $869,000 after buying an additional 370 shares in the last quarter. 76.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

PPL Price Performance

NYSE PPL traded up $0.22 on Monday, reaching $32.65. The company’s stock had a trading volume of 503,746 shares, compared to its average volume of 4,784,675. The firm has a market cap of $24.09 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 2.77 and a beta of 0.82. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 1.12. PPL Co. has a 52 week low of $24.10 and a 52 week high of $33.38. The business has a 50-day moving average price of $32.26 and a 200 day moving average price of $29.86.

PPL (NYSE:PPL) last posted its earnings results on Friday, August 2nd. The utilities provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.33 by $0.05. PPL had a return on equity of 9.26% and a net margin of 10.17%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the company earned $0.29 EPS. PPL’s revenue was up 3.2% on a year-over-year basis. Sell-side analysts expect that PPL Co. will post 1.72 EPS for the current year.

PPL Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were given a $0.2575 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $1.03 dividend on an annualized basis and a yield of 3.15%. PPL’s payout ratio is 90.35%.

About PPL

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.