Hantz Financial Services Inc. Boosts Stock Position in PPL Co. (NYSE:PPL)

Hantz Financial Services Inc. increased its stake in PPL Co. (NYSE:PPL) by 4.9% during the third quarter, according to its most recent filing with the SEC. The fund owned 10,778 shares of the utilities provider’s stock after buying an additional 504 shares during the quarter. Hantz Financial Services Inc.’s holdings in PPL were worth $357,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC boosted its stake in PPL by 195.5% in the third quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 516 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in PPL in the third quarter valued at approximately $34,000. Whittier Trust Co. of Nevada Inc. purchased a new position in PPL in the second quarter valued at approximately $29,000. Redwood Wealth Management Group LLC purchased a new position in PPL in the second quarter valued at approximately $29,000. Finally, Lynx Investment Advisory purchased a new position in shares of PPL during the 2nd quarter valued at $38,000. 76.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. initiated coverage on PPL in a research report on Friday, October 25th. They set an “overweight” rating and a $37.00 price target on the stock. Morgan Stanley upped their price target on shares of PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Jefferies Financial Group started coverage on shares of PPL in a research note on Thursday, September 19th. They set a “buy” rating and a $38.00 price target on the stock. Bank of America increased their target price on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company increased their target price on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $35.50.

Insider Transactions at PPL

In other PPL news, insider John R. Crockett III sold 9,161 shares of PPL 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 directly owns 12,434 shares of the company’s stock, valued at approximately $427,107.90. This trade represents a 42.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.22% of the company’s stock.

PPL Stock Performance

NYSE:PPL opened at $34.93 on Monday. The business’s 50-day moving average price is $33.00 and its two-hundred day moving average price is $30.88. The stock has a market cap of $25.78 billion, a P/E ratio of 31.19, a PEG ratio of 3.01 and a beta of 0.81. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.17. PPL Co. has a twelve month low of $25.35 and a twelve month high of $35.15.

PPL (NYSE:PPL) last released its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.10 billion. PPL had a net margin of 9.95% and a return on equity of 9.20%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 EPS. As a group, equities analysts predict that PPL Co. will post 1.72 EPS for the current fiscal year.

PPL Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Tuesday, December 10th. PPL’s dividend payout ratio (DPR) is currently 91.96%.

PPL 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.