Janney Montgomery Scott LLC increased its position in PPL Co. (NYSE:PPL) by 0.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 538,032 shares of the utilities provider’s stock after purchasing an additional 1,869 shares during the quarter. Janney Montgomery Scott LLC’s holdings in PPL were worth $15,517,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in PPL. Wright Investors Service Inc. increased its holdings in PPL by 0.8% in the 4th quarter. Wright Investors Service Inc. now owns 50,990 shares of the utilities provider’s stock worth $1,438,000 after purchasing an additional 391 shares in the last quarter. Peoples Financial Services CORP. increased its stake in shares of PPL by 0.6% in the fourth quarter. Peoples Financial Services CORP. now owns 67,964 shares of the utilities provider’s stock valued at $1,916,000 after buying an additional 400 shares during the period. Sowell Financial Services LLC increased its stake in shares of PPL by 1.3% in the fourth quarter. Sowell Financial Services LLC now owns 31,989 shares of the utilities provider’s stock valued at $902,000 after buying an additional 408 shares during the period. GPS Wealth Strategies Group LLC increased its stake in shares of PPL by 3.3% in the first quarter. GPS Wealth Strategies Group LLC now owns 15,803 shares of the utilities provider’s stock valued at $455,000 after buying an additional 503 shares during the period. Finally, Private Capital Group LLC increased its stake in shares of PPL by 94.3% in the fourth quarter. Private Capital Group LLC now owns 1,059 shares of the utilities provider’s stock valued at $30,000 after buying an additional 514 shares during the period. Institutional investors own 67.15% of the company’s stock.
Shares of NYSE:PPL opened at $29.14 on Tuesday. The stock has a market cap of $22.42 billion, a price-to-earnings ratio of 14.43 and a beta of 0.72. The company has a quick ratio of 0.43, a current ratio of 0.50 and a debt-to-equity ratio of 1.55. PPL Co. has a 12-month low of $23.71 and a 12-month high of $30.94. The business’s 50 day moving average is $28.93 and its 200 day moving average is $28.29.
The business also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Wednesday, March 10th were given a dividend of $0.415 per share. The ex-dividend date was Tuesday, March 9th. This represents a $1.66 annualized dividend and a dividend yield of 5.70%. PPL’s payout ratio is 67.76%.
Several brokerages have recently weighed in on PPL. Mizuho increased their price target on PPL from $29.50 to $30.00 in a research note on Friday, March 19th. Credit Suisse Group raised their target price on PPL from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 27th. Morgan Stanley raised their target price on PPL from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Monday, April 26th. Finally, Wolfe Research reaffirmed a “peer perform” rating and set a $29.00 target price on shares of PPL in a research note on Monday, March 15th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $34.25.
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 425,000 electric and 332,000 natural gas customers in Louisville and adjacent areas in Kentucky; 536,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in five counties in southwestern Virginia.
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