Borer Denton & Associates Inc. Lowers Stake in PPL Co. (NYSE:PPL)

Borer Denton & Associates Inc. reduced its position in PPL Co. (NYSE:PPL) by 10.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,747 shares of the utilities provider’s stock after selling 1,000 shares during the quarter. Borer Denton & Associates Inc.’s holdings in PPL were worth $289,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC lifted its holdings in shares of PPL by 195.5% during the 3rd quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 516 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of PPL during the third quarter worth about $34,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of PPL in the second quarter worth about $29,000. Redwood Wealth Management Group LLC purchased a new stake in shares of PPL in the second quarter worth about $29,000. Finally, Lynx Investment Advisory acquired a new stake in shares of PPL in the second quarter valued at about $38,000. Hedge funds and other institutional investors own 76.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PPL. Morgan Stanley raised their price target on shares of PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Wells Fargo & Company lifted their target price on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Jefferies Financial Group started coverage on PPL in a report on Thursday, September 19th. They issued a “buy” rating and a $38.00 price target for the company. Bank of America lifted their price objective on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Barclays increased their target price on PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PPL presently has an average rating of “Moderate Buy” and an average price target of $35.50.

PPL Stock Down 1.1 %

PPL stock opened at $34.45 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.07 and a current ratio of 1.29. PPL Co. has a one year low of $25.35 and a one year high of $35.00. The company has a 50-day simple moving average of $32.75 and a 200-day simple moving average of $30.66. The firm has a market capitalization of $25.42 billion, a P/E ratio of 30.76, a P/E/G ratio of 3.00 and a beta of 0.81.

PPL (NYSE:PPL) last posted its earnings results on Friday, November 1st. The utilities provider reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 EPS. As a group, equities analysts expect that PPL Co. will post 1.72 earnings per share for the current year.

PPL Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be given a $0.2575 dividend. 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 dividend payout ratio is currently 91.97%.

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.