Sumitomo Mitsui Trust Group Inc. Grows Stock Position in PPL Co. (NYSE:PPL)

Sumitomo Mitsui Trust Group Inc. raised its position in PPL Co. (NYSE:PPL) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,649,776 shares of the utilities provider’s stock after acquiring an additional 26,365 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in PPL were worth $54,575,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC increased its position in shares of PPL by 195.5% during the third 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 last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in PPL during the 2nd quarter worth approximately $29,000. Redwood Wealth Management Group LLC acquired a new position in shares of PPL in the 2nd quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new position in shares of PPL during the 3rd quarter valued at approximately $34,000. Finally, Lynx Investment Advisory acquired a new stake in shares of PPL during the second quarter worth approximately $38,000. Hedge funds and other institutional investors own 76.99% of the company’s stock.

PPL Stock Performance

PPL stock opened at $33.72 on Friday. PPL Co. has a 1 year low of $25.35 and a 1 year high of $33.75. The stock has a market capitalization of $24.88 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 2.89 and a beta of 0.81. 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 stock’s fifty day moving average is $32.50 and its two-hundred day moving average is $30.38.

PPL (NYSE:PPL) last issued its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 earnings per share 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 firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period last year, the firm posted $0.43 EPS. PPL’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, research analysts predict that PPL Co. will post 1.72 EPS for the current year.

PPL Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were issued a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Tuesday, September 10th. PPL’s dividend payout ratio (DPR) is 91.97%.

Wall Street Analyst Weigh In

PPL has been the topic of several recent analyst reports. Jefferies Financial Group began coverage on shares of PPL in a report on Thursday, September 19th. They issued a “buy” rating and a $38.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on shares of PPL in a research report on Friday, October 25th. They set an “overweight” rating and a $37.00 price target on the stock. Bank of America boosted their price objective on PPL from $34.00 to $35.00 and gave the company a “buy” rating in a report on Monday, November 4th. Morgan Stanley increased 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. Finally, Wells Fargo & Company boosted their price target on PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

About PPL

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.