XTX Topco Ltd Takes $1.85 Million Position in PPL Co. (NYSE:PPL)

XTX Topco Ltd purchased a new position in shares of PPL Co. (NYSE:PPL) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 55,849 shares of the utilities provider’s stock, valued at approximately $1,847,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Fortitude Family Office LLC increased its position in PPL by 195.5% in the 3rd quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 516 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of PPL during the third quarter valued at approximately $34,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of PPL in the second quarter valued at approximately $29,000. Redwood Wealth Management Group LLC bought a new position in PPL in the 2nd quarter worth approximately $29,000. Finally, Family Firm Inc. acquired a new position in PPL during the 2nd quarter worth $38,000. 76.99% of the stock is owned by institutional investors and hedge funds.

PPL Stock Down 1.4 %

PPL stock opened at $33.60 on Friday. PPL Co. has a fifty-two week low of $25.35 and a fifty-two week high of $35.15. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.29 and a quick ratio of 1.07. The firm has a market capitalization of $24.80 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 2.93 and a beta of 0.82. The company’s 50 day simple moving average is $33.14 and its 200 day simple moving average is $31.02.

PPL (NYSE:PPL) last announced its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.10 billion. PPL had a net margin of 9.95% and a return on equity of 9.20%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS. As a group, sell-side analysts anticipate that PPL Co. will post 1.72 EPS for the current year.

PPL Dividend Announcement

The firm also recently declared 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. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Tuesday, December 10th. PPL’s dividend payout ratio is currently 91.97%.

Insider Activity

In related news, insider John R. Crockett III sold 9,161 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $34.35, for a total transaction of $314,680.35. Following the completion of the sale, the insider now directly owns 12,434 shares of the company’s stock, valued at approximately $427,107.90. This represents a 42.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.22% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PPL shares. Jefferies Financial Group assumed coverage on PPL in a research note on Thursday, September 19th. They issued a “buy” rating and a $38.00 target price for the company. JPMorgan Chase & Co. initiated coverage on PPL in a research report on Friday, October 25th. They issued an “overweight” rating and a $37.00 price objective for the company. 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 research report on Monday, September 16th. Bank of America raised their target price on shares of PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Barclays boosted their price target on shares of PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.