Pine Valley Investments Ltd Liability Co Acquires Shares of 6,812 PPL Co. (NYSE:PPL)

Pine Valley Investments Ltd Liability Co acquired a new stake in shares of PPL Co. (NYSE:PPL) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 6,812 shares of the utilities provider’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC increased its holdings in shares of PPL by 195.5% in the third quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 516 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in PPL in the 2nd quarter worth approximately $29,000. Redwood Wealth Management Group LLC purchased a new stake in shares of PPL during the 2nd quarter worth approximately $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of PPL during the 3rd quarter worth approximately $34,000. Finally, Family Firm Inc. bought a new position in shares of PPL during the 2nd quarter valued at approximately $38,000. Institutional investors own 76.99% of the company’s stock.

PPL Stock Performance

PPL stock opened at $32.29 on Friday. PPL Co. has a 12 month low of $25.35 and a 12 month high of $35.15. The firm’s 50-day moving average is $33.11 and its 200 day moving average is $31.14. The company has a market capitalization of $23.83 billion, a PE ratio of 28.83, a P/E/G ratio of 2.82 and a beta of 0.82. 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 issued its earnings results on Friday, November 1st. The utilities provider reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.10 billion. PPL had a net margin of 9.95% and a return on equity of 9.20%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company posted $0.43 earnings per share. On average, research analysts anticipate that PPL Co. will post 1.72 EPS for the current year.

PPL Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PPL. BMO Capital Markets assumed coverage on shares of PPL in a research note on Wednesday. They set an “outperform” rating and a $36.00 price target on the stock. 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 target price on the stock. Morgan Stanley lifted their price target on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Wells Fargo & Company upped their price objective on PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Barclays lifted their target price on PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, PPL currently has a consensus rating of “Moderate Buy” and an average price target of $34.09.

Insider Transactions at PPL

In related news, insider John R. Crockett III sold 9,161 shares of PPL 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.22% of the company’s stock.

PPL Company 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.