Metis Global Partners LLC Boosts Stake in PPL Co. (NYSE:PPL)

Metis Global Partners LLC increased its position in shares of PPL Co. (NYSE:PPL) by 1.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,662 shares of the utilities provider’s stock after buying an additional 451 shares during the quarter. Metis Global Partners LLC’s holdings in PPL were worth $783,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PPL. Fortitude Family Office LLC grew 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 position in PPL during the 2nd quarter worth $29,000. Redwood Wealth Management Group LLC acquired a new position in PPL in the second quarter valued at $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of PPL in the third quarter valued at about $34,000. Finally, Lynx Investment Advisory purchased a new stake in shares of PPL in the second quarter valued at about $38,000. Institutional investors and hedge funds own 76.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PPL shares. Jefferies Financial Group began coverage on PPL in a research report on Thursday, September 19th. They issued a “buy” rating and a $38.00 price target on the stock. JPMorgan Chase & Co. began coverage on PPL in a research note on Friday, October 25th. They set an “overweight” rating and a $37.00 price target for the company. Barclays lifted their price objective on shares of PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Wells Fargo & Company upped their price objective on shares of PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Morgan Stanley lifted their target price on shares of PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, PPL currently has a consensus rating of “Moderate Buy” and an average target price of $35.50.

PPL Stock Up 1.5 %

Shares of NYSE PPL opened at $33.70 on Monday. The stock has a market capitalization of $24.87 billion, a price-to-earnings ratio of 30.09, a price-to-earnings-growth ratio of 2.91 and a beta of 0.81. PPL Co. has a 52 week low of $25.35 and a 52 week high of $33.75. The firm has a 50-day moving average price of $32.53 and a 200 day moving average price of $30.46. 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 (NYSE:PPL) last posted its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.10 billion. PPL had a net margin of 9.95% and a return on equity of 9.20%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.43 EPS. Equities research analysts anticipate that PPL Co. will post 1.72 EPS for the current fiscal year.

PPL Announces Dividend

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

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.