Kapitalo Investimentos Ltda Sells 1,002 Shares of PPL Co. (NYSE:PPL)

Kapitalo Investimentos Ltda lowered its stake in PPL Co. (NYSE:PPL) by 13.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,440 shares of the utilities provider’s stock after selling 1,002 shares during the quarter. Kapitalo Investimentos Ltda’s holdings in PPL were worth $213,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PPL. Whittier Trust Co. of Nevada Inc. bought a new stake in PPL during the 2nd quarter valued at $29,000. Redwood Wealth Management Group LLC purchased a new position in shares of PPL in the second quarter valued at about $29,000. Lynx Investment Advisory bought a new position in shares of PPL during the second quarter valued at about $38,000. Family Firm Inc. purchased a new stake in shares of PPL during the second quarter worth about $38,000. Finally, Central Pacific Bank Trust Division bought a new stake in shares of PPL in the first quarter worth about $42,000. Hedge funds and other institutional investors own 76.99% of the company’s stock.

Analysts Set New Price Targets

PPL has been the subject of several research analyst reports. Morgan Stanley increased their price objective on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Wells Fargo & Company lifted 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. Jefferies Financial Group assumed coverage on shares of PPL in a research report on Thursday, September 19th. They set a “buy” rating and a $38.00 price target on the stock. Finally, Bank of America lifted their price objective on PPL from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.56.

PPL Price Performance

Shares of PPL opened at $32.62 on Thursday. The firm’s 50-day simple moving average is $32.00 and its two-hundred day simple moving average is $29.58. PPL Co. has a fifty-two week low of $23.36 and a fifty-two week high of $33.38. The stock has a market cap of $24.07 billion, a PE ratio of 31.67, a price-to-earnings-growth ratio of 2.72 and a beta of 0.82. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.91 and a current ratio of 1.11.

PPL (NYSE:PPL) last posted its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.92 billion. PPL had a return on equity of 9.26% and a net margin of 10.17%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.29 EPS. Analysts anticipate that PPL Co. will post 1.72 earnings per share for the current fiscal year.

PPL Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were given a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Tuesday, September 10th. PPL’s dividend payout ratio is presently 100.00%.

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.