Point72 Asia Singapore Pte. Ltd. Has $939,000 Position in PPL Co. (NYSE:PPL)

Point72 Asia Singapore Pte. Ltd. raised its stake in shares of PPL Co. (NYSE:PPL) by 1,134.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,374 shares of the utilities provider’s stock after buying an additional 26,075 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in PPL were worth $939,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Point72 Hong Kong Ltd acquired a new stake in shares of PPL during the 3rd quarter valued at $2,978,000. Cobblestone Capital Advisors LLC NY raised its holdings in shares of PPL by 2.4% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 14,848 shares of the utilities provider’s stock valued at $491,000 after purchasing an additional 348 shares in the last quarter. Edgestream Partners L.P. raised its holdings in shares of PPL by 289.2% during the 3rd quarter. Edgestream Partners L.P. now owns 40,963 shares of the utilities provider’s stock valued at $1,355,000 after purchasing an additional 30,438 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of PPL by 7.1% during the 3rd quarter. Captrust Financial Advisors now owns 35,796 shares of the utilities provider’s stock valued at $1,184,000 after purchasing an additional 2,382 shares in the last quarter. Finally, Icon Wealth Advisors LLC raised its holdings in shares of PPL by 61.8% during the 3rd quarter. Icon Wealth Advisors LLC now owns 42,056 shares of the utilities provider’s stock valued at $1,391,000 after purchasing an additional 16,069 shares in the last quarter. Institutional investors and hedge funds own 76.99% of the company’s stock.

PPL Stock Performance

NYSE:PPL opened at $34.93 on Monday. The firm’s 50-day moving average is $33.00 and its 200-day moving average is $30.88. PPL Co. has a 52-week low of $25.35 and a 52-week high of $35.15. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.07 and a current ratio of 1.29. The company has a market cap of $25.78 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 3.01 and a beta of 0.81.

PPL (NYSE:PPL) last posted 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. PPL had a net margin of 9.95% and a return on equity of 9.20%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the previous year, the firm posted $0.43 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. Equities research analysts anticipate that PPL Co. will post 1.72 earnings per share for the current year.

PPL Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.2575 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.03 annualized dividend and a dividend yield of 2.95%. PPL’s dividend payout ratio (DPR) is currently 91.96%.

Insider Activity

In other news, insider John R. Crockett III sold 9,161 shares of PPL stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $34.35, for a total transaction of $314,680.35. Following the sale, the insider now directly owns 12,434 shares in the company, valued at approximately $427,107.90. The trade was a 42.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.22% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PPL. 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 report on Monday, September 16th. Barclays raised their price target 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. JPMorgan Chase & Co. initiated coverage on shares of PPL in a report on Friday, October 25th. They set an “overweight” rating and a $37.00 price target on the stock. Morgan Stanley lifted their target price on shares of PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, 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. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.50.

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.