abrdn plc Boosts Stock Position in PPL Co. (NYSE:PPL)

abrdn plc increased its stake in PPL Co. (NYSE:PPL) by 23.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,097,842 shares of the utilities provider’s stock after buying an additional 206,604 shares during the period. abrdn plc owned 0.15% of PPL worth $35,356,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Great Valley Advisor Group Inc. grew its stake in shares of PPL by 1.7% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 17,696 shares of the utilities provider’s stock worth $585,000 after buying an additional 301 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. grew its stake in shares of PPL by 0.4% in the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 78,296 shares of the utilities provider’s stock worth $2,480,000 after buying an additional 313 shares during the last quarter. Cobblestone Capital Advisors LLC NY grew its stake in shares of PPL by 2.4% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 14,848 shares of the utilities provider’s stock worth $491,000 after buying an additional 348 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in PPL by 3.1% during the 3rd quarter. Valeo Financial Advisors LLC now owns 12,360 shares of the utilities provider’s stock valued at $409,000 after purchasing an additional 370 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in PPL by 1.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 26,264 shares of the utilities provider’s stock valued at $869,000 after purchasing an additional 370 shares during the last quarter. Hedge funds and other institutional investors own 76.99% of the company’s stock.

PPL Stock Performance

PPL stock opened at $33.94 on Thursday. PPL Co. has a 1 year low of $25.35 and a 1 year high of $35.15. The stock’s fifty day moving average price is $32.89 and its 200-day moving average price is $32.34. The company has a market cap of $25.04 billion, a P/E ratio of 30.30, a price-to-earnings-growth ratio of 2.71 and a beta of 0.83. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.29 and a quick ratio of 1.07.

PPL Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th were issued a $0.2575 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $1.03 dividend on an annualized basis and a yield of 3.04%. PPL’s dividend payout ratio is currently 91.97%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Citigroup increased their target price on PPL from $31.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. assumed coverage on PPL in a research note on Friday, October 25th. They set an “overweight” rating and a $37.00 target price on the stock. Barclays cut their target price on PPL from $34.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Bank of America increased their target price on PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, BMO Capital Markets assumed coverage on PPL in a research note on Wednesday, December 11th. They set an “outperform” rating and a $36.00 target price on the stock. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Insider Buying and Selling

In related news, SVP Tadd J. Henninger sold 6,639 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $32.16, for a total value of $213,510.24. Following the transaction, the senior vice president now directly owns 11,210 shares of the company’s stock, valued at approximately $360,513.60. This trade represents a 37.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John R. Crockett III sold 9,161 shares of the firm’s stock in a transaction on 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 directly owns 12,434 shares in the company, valued at approximately $427,107.90. This represents a 42.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,794 shares of company stock valued at $661,338. 0.22% of the stock is owned by company insiders.

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.