AMG National Trust Bank Acquires 7,351 Shares of PPL Co. (NYSE:PPL)

AMG National Trust Bank increased its stake in shares of PPL Co. (NYSE:PPL) by 7.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 112,170 shares of the utilities provider’s stock after buying an additional 7,351 shares during the quarter. AMG National Trust Bank’s holdings in PPL were worth $3,711,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PPL. Fortitude Family Office LLC boosted its position 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 worth $26,000 after acquiring an additional 516 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in PPL in the 2nd quarter worth about $29,000. Redwood Wealth Management Group LLC bought a new position in PPL in the 2nd quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new position in shares of PPL during the third quarter valued at $34,000. Finally, Lynx Investment Advisory acquired a new position in PPL during the 2nd quarter worth about $38,000. 76.99% of the stock is owned by institutional investors and hedge funds.

PPL Trading Up 0.9 %

PPL stock opened at $34.00 on Tuesday. The stock has a market cap of $25.09 billion, a P/E ratio of 30.36, a PEG ratio of 2.91 and a beta of 0.81. PPL Co. has a fifty-two week low of $25.35 and a fifty-two week high of $34.04. The firm’s fifty day moving average price is $32.56 and its 200-day moving average price is $30.51. 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 (NYSE:PPL) last released its quarterly earnings results 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 return on equity of 9.20% and a net margin of 9.95%. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter last year, the firm posted $0.43 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. Equities research analysts forecast that PPL Co. will post 1.72 earnings per share for the current fiscal year.

PPL Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were issued a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Tuesday, September 10th. PPL’s payout ratio is 91.96%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group started coverage on shares of PPL in a research report on Thursday, September 19th. They issued a “buy” rating and a $38.00 price target on the stock. Barclays upped their target price on PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Bank of America raised their price target on shares of PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Wells Fargo & Company raised their price target on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, 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 for the company. 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, PPL presently has a consensus rating of “Moderate Buy” and an average price target of $35.50.

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.