Wealth Advisors of Tampa Bay LLC Purchases 21,438 Shares of PPL Co. (NYSE:PPL)

Wealth Advisors of Tampa Bay LLC lifted its position in PPL Co. (NYSE:PPLGet Rating) by 10.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,114 shares of the utilities provider’s stock after acquiring an additional 21,438 shares during the quarter. PPL makes up approximately 1.7% of Wealth Advisors of Tampa Bay LLC’s portfolio, making the stock its 25th largest position. Wealth Advisors of Tampa Bay LLC’s holdings in PPL were worth $6,342,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Widmann Financial Services Inc. bought a new position in PPL during the fourth quarter valued at about $26,000. Dixon Hughes Goodman Wealth Advisors LLC bought a new position in PPL during the fourth quarter valued at about $32,000. Evolution Advisers Inc. bought a new position in PPL during the fourth quarter valued at about $33,000. Benjamin Edwards Inc. bought a new position in PPL during the fourth quarter valued at about $35,000. Finally, Citizens National Bank Trust Department bought a new position in PPL during the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 65.63% of the company’s stock.

In related news, insider Stephanie R. Raymond sold 3,374 shares of the firm’s stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $30.45, for a total value of $102,738.30. Following the sale, the insider now directly owns 23,182 shares of the company’s stock, valued at $705,891.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.17% of the company’s stock.

Shares of PPL stock opened at $27.76 on Tuesday. PPL Co. has a 12-month low of $24.98 and a 12-month high of $30.72. The company has a market cap of $20.43 billion, a price-to-earnings ratio of 32.66 and a beta of 0.75. The company has a current ratio of 1.88, a quick ratio of 1.79 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average price is $28.43 and its 200-day moving average price is $28.51.

PPL (NYSE:PPLGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.65 billion. PPL had a net margin of 10.43% and a return on equity of 6.25%. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 earnings per share. On average, sell-side analysts predict that PPL Co. will post 1.38 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Tuesday, June 21st were paid a $0.225 dividend. This is an increase from PPL’s previous quarterly dividend of $0.20. This represents a $0.90 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend was Friday, June 17th. PPL’s dividend payout ratio (DPR) is currently 105.88%.

Several equities analysts recently weighed in on PPL shares. Morgan Stanley reduced their price target on shares of PPL from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Monday, May 23rd. Wolfe Research upgraded shares of PPL from a “peer perform” rating to an “outperform” rating and increased their price target for the company from $28.00 to $30.00 in a research report on Wednesday, March 9th. Argus downgraded shares of PPL from a “buy” rating to a “hold” rating in a report on Monday, April 4th. Credit Suisse Group dropped their price objective on shares of PPL from $33.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, June 16th. Finally, The Goldman Sachs Group assumed coverage on shares of PPL in a report on Monday, May 30th. They set a “buy” rating on the stock. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $30.75.

PPL Company Profile (Get Rating)

PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through two segments: Kentucky Regulated and Pennsylvania Regulated. It serves approximately 429,000 electric and 333,000 natural gas customers in Louisville and adjacent areas in Kentucky; 538,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in five counties in southwestern Virginia.

Further Reading

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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