Empowered Funds LLC Boosts Holdings in PPL Co. (NYSE:PPL)

Empowered Funds LLC boosted its stake in PPL Co. (NYSE:PPL) by 8.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,407 shares of the utilities provider’s stock after acquiring an additional 988 shares during the period. Empowered Funds LLC’s holdings in PPL were worth $410,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC grew its holdings in PPL by 66.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 28,009 shares of the utilities provider’s stock worth $771,000 after acquiring an additional 11,199 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of PPL by 3.8% in the 1st quarter. Bessemer Group Inc. now owns 13,748 shares of the utilities provider’s stock valued at $379,000 after buying an additional 508 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of PPL during the 1st quarter worth $741,000. Dynasty Wealth Management LLC acquired a new position in PPL during the first quarter worth about $201,000. Finally, B. Riley Wealth Advisors Inc. increased its stake in PPL by 16.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 44,713 shares of the utilities provider’s stock valued at $1,231,000 after purchasing an additional 6,331 shares in the last quarter. Hedge funds and other institutional investors own 76.99% of the company’s stock.

PPL Trading Down 1.1 %

Shares of NYSE:PPL opened at $34.45 on Monday. The firm has a fifty day moving average of $32.75 and a two-hundred day moving average of $30.68. 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 Co. has a 12-month low of $25.35 and a 12-month high of $35.00. The firm has a market capitalization of $25.42 billion, a P/E ratio of 30.76, a price-to-earnings-growth ratio of 3.00 and a beta of 0.81.

PPL (NYSE:PPL) last announced its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. PPL had a return on equity of 9.20% and a net margin of 9.95%. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the previous year, the business posted $0.43 EPS. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities analysts expect that PPL Co. will post 1.72 EPS for the current fiscal year.

PPL Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Tuesday, December 10th. PPL’s payout ratio is 91.97%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PPL. Morgan Stanley increased their price target 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. Bank of America boosted their price target on PPL from $34.00 to $35.00 and gave the company a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. initiated coverage on PPL in a research note on Friday, October 25th. They issued an “overweight” rating and a $37.00 price target on the stock. 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 target price for the company. Finally, Wells Fargo & Company upped their price objective on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

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.