PPL Co. (NYSE:PPL) Insider Sells $314,680.35 in Stock

PPL Co. (NYSE:PPL) insider John R. Crockett III sold 9,161 shares of PPL stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $34.35, for a total value of $314,680.35. Following the completion of the transaction, the insider now owns 12,434 shares in the company, valued at $427,107.90. The trade was a 42.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

PPL Trading Up 1.3 %

Shares of PPL opened at $34.84 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.07 and a debt-to-equity ratio of 1.17. The stock has a market cap of $25.71 billion, a PE ratio of 31.11, a PEG ratio of 2.97 and a beta of 0.81. PPL Co. has a 1 year low of $25.35 and a 1 year high of $35.00. The stock has a 50 day simple moving average of $32.83 and a 200-day simple moving average of $30.76.

PPL (NYSE:PPL) last released its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.10 billion. PPL had a return on equity of 9.20% and a net margin of 9.95%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 earnings per share. On average, sell-side analysts predict that PPL Co. will post 1.72 EPS for the current fiscal year.

PPL Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be given a $0.2575 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $1.03 dividend on an annualized basis and a yield of 2.96%. PPL’s dividend payout ratio (DPR) is presently 91.97%.

Institutional Trading of PPL

Large investors have recently added to or reduced their stakes in the company. Fortitude Family Office LLC boosted its holdings in shares of PPL by 195.5% in 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. Ashton Thomas Securities LLC bought a new position in PPL in the 3rd quarter valued at $34,000. Whittier Trust Co. of Nevada Inc. acquired a new position in PPL in the second quarter worth $29,000. Redwood Wealth Management Group LLC acquired a new position in PPL in the second quarter worth $29,000. Finally, Lynx Investment Advisory bought a new stake in shares of PPL during the second quarter worth $38,000. 76.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on PPL. Morgan Stanley lifted their price target on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Barclays boosted their target price on shares of PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. started coverage on shares of PPL in a report on Friday, October 25th. They issued an “overweight” rating and a $37.00 price target for the company. Bank of America boosted their price objective on shares of PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company increased their target price on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $35.50.

About PPL

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.