Ninepoint Partners LP Boosts Holdings in PPL Co. (NYSE:PPL)

Ninepoint Partners LP raised its holdings in shares of PPL Co. (NYSE:PPL) by 16.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 38,168 shares of the utilities provider’s stock after purchasing an additional 5,436 shares during the period. Ninepoint Partners LP’s holdings in PPL were worth $1,239,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PPL. Kentucky Trust Co purchased a new position in PPL during the 4th quarter valued at about $32,000. Rosenberg Matthew Hamilton increased its holdings in PPL by 1,092.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 1,114 shares in the last quarter. Larson Financial Group LLC increased its holdings in PPL by 84.5% during the 4th quarter. Larson Financial Group LLC now owns 1,264 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 579 shares in the last quarter. Newton One Investments LLC purchased a new stake in shares of PPL during the fourth quarter worth about $49,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of PPL by 69.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,072 shares of the utilities provider’s stock worth $67,000 after buying an additional 846 shares in the last quarter. 76.99% of the stock is currently owned by hedge funds and other institutional investors.

PPL Trading Up 2.3 %

NYSE PPL opened at $34.95 on Friday. The company’s fifty day simple moving average is $33.69 and its 200-day simple moving average is $33.09. PPL Co. has a 52 week low of $25.93 and a 52 week high of $35.91. The company has a current ratio of 0.86, a quick ratio of 0.71 and a debt-to-equity ratio of 1.13. The stock has a market cap of $25.80 billion, a P/E ratio of 28.88, a PEG ratio of 2.77 and a beta of 0.76.

PPL (NYSE:PPL) last posted its earnings results on Thursday, February 13th. The utilities provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). PPL had a return on equity of 8.88% and a net margin of 10.49%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.09 billion. Equities research analysts predict that PPL Co. will post 1.83 EPS for the current fiscal year.

PPL Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from PPL’s previous quarterly dividend of $0.26. PPL’s payout ratio is 90.08%.

Wall Street Analyst Weigh In

PPL has been the subject of a number of recent research reports. Jefferies Financial Group lowered their price target on shares of PPL from $39.00 to $38.00 and set a “buy” rating for the company in a report on Tuesday, December 17th. Citigroup upgraded shares of PPL from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. BMO Capital Markets assumed coverage on shares of PPL in a report on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 target price for the company. Finally, Barclays lifted their price target on shares of PPL from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $34.70.

Insider Buying and Selling

In related news, SVP Tadd J. Henninger sold 6,639 shares of PPL stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $32.16, for a total value of $213,510.24. Following the completion of the sale, the senior vice president now owns 11,210 shares in the company, valued at approximately $360,513.60. The trade was a 37.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christine M. Martin sold 1,146 shares of PPL stock in a transaction on Friday, February 28th. The stock was sold at an average price of $34.78, for a total transaction of $39,857.88. Following the completion of the sale, the insider now owns 37,167 shares of the company’s stock, valued at approximately $1,292,668.26. This trade represents a 2.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,779 shares of company stock worth $386,515. Insiders own 0.22% of the company’s stock.

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.