Victory Capital Management Inc. Acquires 111,313 Shares of PPL Co. (NYSE:PPL)

Victory Capital Management Inc. grew its holdings in shares of PPL Co. (NYSE:PPL) by 8.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,377,910 shares of the utilities provider’s stock after buying an additional 111,313 shares during the quarter. Victory Capital Management Inc. owned approximately 0.19% of PPL worth $45,581,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its position in 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 buying an additional 516 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in PPL during the 3rd quarter worth about $34,000. Whittier Trust Co. of Nevada Inc. bought a new stake in PPL during the 2nd quarter worth about $29,000. Redwood Wealth Management Group LLC bought a new stake in PPL during the 2nd quarter worth about $29,000. Finally, Lynx Investment Advisory bought a new stake in PPL during the 2nd quarter worth about $38,000. 76.99% of the stock is owned by institutional investors.

PPL Stock Performance

Shares of NYSE:PPL opened at $33.72 on Friday. The company’s 50 day moving average price is $32.50 and its two-hundred day moving average price is $30.38. PPL Co. has a 12-month low of $25.35 and a 12-month high of $33.75. The firm has a market cap of $24.88 billion, a PE ratio of 30.10, a PEG ratio of 2.89 and a beta of 0.81. 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 (NYSE:PPL) last announced its earnings results on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. PPL had a net margin of 9.95% and a return on equity of 9.20%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the prior year, the business posted $0.43 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. Equities research analysts predict that PPL Co. will post 1.72 earnings per share for the current year.

PPL Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were given a dividend of $0.2575 per share. The ex-dividend date was Tuesday, September 10th. This represents a $1.03 annualized dividend and a dividend yield of 3.06%. PPL’s dividend payout ratio is 91.97%.

Analyst Upgrades and Downgrades

PPL has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of PPL in a report on Thursday, September 19th. They issued a “buy” rating and a $38.00 target price on the stock. Wells Fargo & Company upped their target price on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Barclays upped their target price on shares of PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Morgan Stanley upped their target price on shares of PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Bank of America upped their target price on shares of PPL from $34.00 to $35.00 and gave the company a “buy” rating in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.