abrdn plc Acquires 206,604 Shares of PPL Co. (NYSE:PPL)

abrdn plc raised its holdings in shares of PPL Co. (NYSE:PPL) by 23.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,097,842 shares of the utilities provider’s stock after acquiring an additional 206,604 shares during the quarter. abrdn plc’s holdings in PPL were worth $35,356,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PPL. Fortitude Family Office LLC increased its holdings in shares of PPL by 195.5% in the third quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 516 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of PPL in the third quarter worth about $34,000. Rosenberg Matthew Hamilton increased its holdings in shares of PPL by 1,092.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 1,114 shares during the last quarter. Covestor Ltd increased its holdings in shares of PPL by 139.2% in the third quarter. Covestor Ltd now owns 1,512 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 880 shares during the last quarter. Finally, McClarren Financial Advisors Inc. increased its holdings in shares of PPL by 5,759.3% in the third quarter. McClarren Financial Advisors Inc. now owns 1,582 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 1,555 shares during the last quarter. 76.99% of the stock is owned by institutional investors.

PPL Stock Up 1.0 %

Shares of NYSE:PPL opened at $33.94 on Thursday. PPL Co. has a 1 year low of $25.35 and a 1 year high of $35.15. The business has a 50 day simple moving average of $32.89 and a two-hundred day simple moving average of $32.34. The firm has a market capitalization of $25.04 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 2.71 and a beta of 0.83. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.29 and a quick ratio of 1.07.

PPL Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th were given a dividend of $0.2575 per share. The ex-dividend date was Tuesday, December 10th. This represents a $1.03 annualized dividend and a dividend yield of 3.04%. PPL’s dividend payout ratio (DPR) is presently 91.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Barclays reduced their target price on PPL from $34.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. BMO Capital Markets assumed coverage on PPL in a report on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 target price on the stock. Bank of America lifted their target price on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Jefferies Financial Group dropped their price target on PPL from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, December 17th. Finally, Citigroup lifted their price target on PPL from $31.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Insider Buying and Selling at PPL

In other PPL news, SVP Tadd J. Henninger sold 6,639 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $32.16, for a total transaction of $213,510.24. Following the completion of the transaction, the senior vice president now owns 11,210 shares in the company, valued at $360,513.60. The trade was a 37.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO David J. Bonenberger sold 981 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $33.48, for a total value of $32,843.88. Following the transaction, the chief operating officer now owns 45,414 shares of the company’s stock, valued at $1,520,460.72. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,794 shares of company stock worth $661,338 over the last 90 days. Company insiders own 0.22% of the company’s stock.

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.