Raymond James Trust N.A. Has $813,000 Holdings in PPL Co. (NYSE:PPL)

Raymond James Trust N.A. lifted its position in shares of PPL Co. (NYSE:PPL) by 5.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,565 shares of the utilities provider’s stock after buying an additional 1,326 shares during the quarter. Raymond James Trust N.A.’s holdings in PPL were worth $813,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. O Shaughnessy Asset Management LLC grew its holdings in PPL by 66.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 28,009 shares of the utilities provider’s stock worth $771,000 after purchasing an additional 11,199 shares during the period. Bessemer Group Inc. grew its holdings in PPL by 3.8% in the first quarter. Bessemer Group Inc. now owns 13,748 shares of the utilities provider’s stock worth $379,000 after purchasing an additional 508 shares during the period. Bayesian Capital Management LP acquired a new stake in PPL in the first quarter worth $741,000. Dynasty Wealth Management LLC acquired a new stake in PPL in the first quarter worth $201,000. Finally, B. Riley Wealth Advisors Inc. grew its holdings in PPL by 16.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 44,713 shares of the utilities provider’s stock worth $1,231,000 after purchasing an additional 6,331 shares during the period. 76.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PPL shares. Wells Fargo & Company raised their price target on shares of PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Jefferies Financial Group initiated coverage on shares of PPL in a report on Thursday, September 19th. They issued a “buy” rating and a $38.00 price target for the company. Bank of America lifted their price objective on shares of PPL from $34.00 to $35.00 and gave the company a “buy” rating in a report on Monday, November 4th. Barclays lifted their price objective on shares of PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Finally, Morgan Stanley lifted their price objective on shares of PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, PPL has an average rating of “Moderate Buy” and an average price target of $35.50.

PPL Stock Down 1.1 %

PPL opened at $34.45 on Monday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.29 and a quick ratio of 1.07. The company’s 50-day moving average is $32.75 and its 200 day moving average is $30.68. PPL Co. has a fifty-two week low of $25.35 and a fifty-two week high of $35.00. The firm has a market capitalization of $25.42 billion, a P/E ratio of 30.76, a PEG ratio of 3.00 and a beta of 0.81.

PPL (NYSE:PPL) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $2.10 billion. During the same period last year, the firm earned $0.43 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. Research analysts expect that PPL Co. will post 1.72 earnings per share for the current fiscal year.

PPL Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Tuesday, December 10th. PPL’s dividend payout ratio is 91.97%.

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.