PPL Co. (NYSE:PPL) Shares Acquired by Toronto Dominion Bank

Toronto Dominion Bank increased its position in shares of PPL Co. (NYSE:PPL) by 82.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 402,845 shares of the utilities provider’s stock after acquiring an additional 181,627 shares during the quarter. Toronto Dominion Bank owned approximately 0.05% of PPL worth $13,326,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PPL. Point72 Asset Management L.P. lifted its stake in shares of PPL by 91.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,821,936 shares of the utilities provider’s stock worth $160,977,000 after purchasing an additional 2,778,820 shares during the period. Wellington Management Group LLP lifted its position in PPL by 6.2% during the third quarter. Wellington Management Group LLP now owns 35,089,490 shares of the utilities provider’s stock worth $1,160,760,000 after buying an additional 2,050,122 shares during the period. Electron Capital Partners LLC boosted its stake in PPL by 71.3% in the 2nd quarter. Electron Capital Partners LLC now owns 4,306,007 shares of the utilities provider’s stock worth $119,061,000 after buying an additional 1,792,200 shares during the last quarter. State Street Corp grew its holdings in PPL by 5.0% in the 3rd quarter. State Street Corp now owns 36,459,099 shares of the utilities provider’s stock valued at $1,215,363,000 after buying an additional 1,720,941 shares during the period. Finally, Clearbridge Investments LLC increased its stake in shares of PPL by 25.3% during the 2nd quarter. Clearbridge Investments LLC now owns 5,890,854 shares of the utilities provider’s stock valued at $162,882,000 after acquiring an additional 1,189,339 shares during the last quarter. 76.99% of the stock is owned by hedge funds and other institutional investors.

PPL Price Performance

NYSE PPL opened at $32.29 on Friday. 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 fifty-two week low of $25.35 and a fifty-two week high of $35.15. The business has a 50 day moving average price of $33.11 and a two-hundred day moving average price of $31.14. The stock has a market cap of $23.83 billion, a PE ratio of 28.83, a P/E/G ratio of 2.82 and a beta of 0.82.

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

PPL Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be issued a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Tuesday, December 10th. PPL’s dividend payout ratio is currently 91.96%.

Insider Transactions at PPL

In related news, insider John R. Crockett III sold 9,161 shares of the business’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 of the company’s stock, valued at $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 available through this link. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

PPL has been the subject of a number of recent analyst reports. 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 target price for the company. Bank of America upped their price objective on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Barclays lifted their target price on PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Citigroup upped their price target on PPL from $31.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Morgan Stanley boosted their target price on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.09.

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.