Assetmark Inc. Acquires 5,800 Shares of PPL Co. (NYSE:PPL)

Assetmark Inc. lifted its holdings in PPL Co. (NYSE:PPL) by 23.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,044 shares of the utilities provider’s stock after purchasing an additional 5,800 shares during the period. Assetmark Inc.’s holdings in PPL were worth $994,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PPL. Fortitude Family Office LLC raised its stake in PPL by 195.5% during the 3rd quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 516 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in PPL during the 2nd quarter worth approximately $29,000. Redwood Wealth Management Group LLC bought a new stake in PPL during the 2nd quarter worth approximately $29,000. Lynx Investment Advisory bought a new stake in PPL during the 2nd quarter worth approximately $38,000. Finally, Family Firm Inc. bought a new stake in PPL during the 2nd quarter worth approximately $38,000. Institutional investors own 76.99% of the company’s stock.

PPL Trading Down 0.8 %

PPL stock opened at $33.23 on Friday. The firm has a fifty day moving average price of $32.48 and a 200 day moving average price of $30.36. PPL Co. has a fifty-two week low of $25.35 and a fifty-two week high of $33.60. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.07 and a current ratio of 1.29. The firm has a market cap of $24.52 billion, a PE ratio of 29.67, a price-to-earnings-growth ratio of 2.84 and a beta of 0.81.

PPL (NYSE:PPL) last posted its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $2.07 billion during 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%. PPL’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 earnings per share. Sell-side analysts anticipate that PPL Co. will post 1.72 earnings per share for the current fiscal year.

PPL Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were paid a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 3.10%. The ex-dividend date was Tuesday, September 10th. PPL’s payout ratio is 91.96%.

Wall Street Analyst Weigh In

PPL has been the topic of a number of recent analyst reports. Bank of America raised their target price on shares of PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. assumed coverage on shares of PPL in a research report on Friday, October 25th. They set an “overweight” rating and a $37.00 price objective on the stock. 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 research report on Friday, August 23rd. 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 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

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.