Wilmington Savings Fund Society FSB Grows Stock Holdings in PPL Co. (NYSE:PPL)

Wilmington Savings Fund Society FSB grew its holdings in shares of PPL Co. (NYSE:PPL) by 32.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,169 shares of the utilities provider’s stock after purchasing an additional 10,043 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in PPL were worth $1,362,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC increased 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 purchasing an additional 516 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in PPL in the 2nd quarter valued at about $29,000. Redwood Wealth Management Group LLC acquired a new position in shares of PPL during the 2nd quarter valued at about $29,000. Ashton Thomas Securities LLC purchased a new position in shares of PPL during the 3rd quarter worth about $34,000. Finally, Family Firm Inc. acquired a new stake in shares of PPL in the second quarter worth approximately $38,000. Institutional investors and hedge funds own 76.99% of the company’s stock.

Analysts Set New Price Targets

PPL has been the subject of several research analyst reports. Jefferies Financial Group assumed coverage on shares of PPL in a research report on Thursday, September 19th. They set a “buy” rating and a $38.00 price target for the company. Citigroup upped their price objective on PPL from $31.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday. JPMorgan Chase & Co. began coverage on PPL in a report on Friday, October 25th. They issued an “overweight” rating and a $37.00 target price on the stock. Bank of America upped their price target on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Barclays raised PPL from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, PPL currently has an average rating of “Moderate Buy” and a consensus price target of $34.09.

Insider Activity

In related news, insider John R. Crockett III sold 9,161 shares of PPL stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $34.35, for a total value of $314,680.35. Following the completion of the sale, the insider now owns 12,434 shares in the company, valued at approximately $427,107.90. The trade was a 42.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.22% of the company’s stock.

PPL Price Performance

Shares of PPL stock opened at $32.29 on Friday. The firm has a fifty day simple moving average of $33.11 and a 200-day simple moving average of $31.16. The company has a market capitalization of $23.83 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 2.82 and a beta of 0.82. PPL Co. has a twelve month low of $25.35 and a twelve month high of $35.15. The company has a current ratio of 1.29, a quick ratio of 1.07 and a debt-to-equity ratio of 1.17.

PPL (NYSE:PPL) last posted 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. PPL had a net margin of 9.95% and a return on equity of 9.20%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the prior year, the company posted $0.43 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts anticipate that PPL Co. will post 1.72 earnings per share for the current fiscal year.

PPL Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be given a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Tuesday, December 10th. PPL’s payout ratio is 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.