Forza Wealth Management LLC Sells 1,030 Shares of PPL Co. (NYSE:PPL)

Forza Wealth Management LLC trimmed its position in shares of PPL Co. (NYSE:PPL) by 6.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 14,616 shares of the utilities provider’s stock after selling 1,030 shares during the quarter. Forza Wealth Management LLC’s holdings in PPL were worth $474,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in PPL. Cooper Financial Group raised its position in PPL by 13.2% in the fourth quarter. Cooper Financial Group now owns 16,614 shares of the utilities provider’s stock worth $539,000 after acquiring an additional 1,943 shares during the period. Matrix Trust Co increased its position in PPL by 576.0% in the fourth quarter. Matrix Trust Co now owns 2,954 shares of the utilities provider’s stock worth $96,000 after buying an additional 2,517 shares during the last quarter. Czech National Bank raised its stake in shares of PPL by 6.5% in the fourth quarter. Czech National Bank now owns 160,007 shares of the utilities provider’s stock valued at $5,194,000 after buying an additional 9,722 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of PPL by 10.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 67,203 shares of the utilities provider’s stock valued at $2,223,000 after buying an additional 6,454 shares during the last quarter. Finally, First Hawaiian Bank boosted its position in PPL by 38.5% during the fourth quarter. First Hawaiian Bank now owns 40,812 shares of the utilities provider’s stock worth $1,325,000 after purchasing an additional 11,343 shares during the period. 76.99% of the stock is owned by institutional investors.

PPL Price Performance

NYSE PPL traded down $0.09 on Monday, reaching $31.64. 2,070,237 shares of the company’s stock traded hands, compared to its average volume of 3,251,129. The stock has a market cap of $23.35 billion, a PE ratio of 28.25, a P/E/G ratio of 2.78 and a beta of 0.83. PPL Co. has a 12 month low of $25.35 and a 12 month high of $35.15. The stock has a 50-day simple moving average of $33.09 and a 200 day simple moving average of $31.73. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.29 and a quick ratio of 1.07.

PPL (NYSE:PPL) last released its earnings results on Friday, November 1st. The utilities provider reported $0.42 EPS for the quarter, meeting the consensus estimate 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 quarter last year, the firm earned $0.43 EPS. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, research analysts predict that PPL Co. will post 1.72 earnings per share for the current year.

PPL Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th were given a dividend of $0.2575 per share. The ex-dividend date was Tuesday, December 10th. This represents a $1.03 annualized dividend and a yield of 3.26%. PPL’s payout ratio is 91.96%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. 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. JPMorgan Chase & Co. began coverage on shares of PPL in a report on Friday, October 25th. They issued an “overweight” rating and a $37.00 price target on the stock. Citigroup upped their target price on shares of PPL from $31.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Barclays raised shares of PPL from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 12th. Finally, BMO Capital Markets initiated coverage on shares of PPL in a report on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.09.

Insider Buying and Selling

In other news, SVP Tadd J. Henninger sold 6,639 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $32.16, for a total transaction of $213,510.24. Following the completion of the transaction, the senior vice president now directly owns 11,210 shares of the company’s stock, valued at approximately $360,513.60. This represents a 37.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John R. Crockett III sold 9,161 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was 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 directly owns 12,434 shares in the company, valued at $427,107.90. The trade was a 42.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.22% of the stock is owned by corporate insiders.

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.