Redwood Wealth Management Group LLC Buys Shares of 1,054 PPL Co. (NYSE:PPL)

Redwood Wealth Management Group LLC purchased a new position in PPL Co. (NYSE:PPL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,054 shares of the utilities provider’s stock, valued at approximately $29,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP bought a new position in PPL in the fourth quarter valued at about $570,789,000. Franklin Resources Inc. lifted its stake in shares of PPL by 11.2% in the 4th quarter. Franklin Resources Inc. now owns 10,396,322 shares of the utilities provider’s stock worth $281,740,000 after purchasing an additional 1,045,852 shares during the period. Cohen & Steers Inc. boosted its holdings in shares of PPL by 4.0% in the fourth quarter. Cohen & Steers Inc. now owns 8,952,615 shares of the utilities provider’s stock worth $242,616,000 after buying an additional 340,686 shares during the last quarter. Electron Capital Partners LLC grew its position in PPL by 437.5% during the fourth quarter. Electron Capital Partners LLC now owns 4,890,402 shares of the utilities provider’s stock valued at $132,530,000 after buying an additional 3,980,626 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in PPL by 50.3% during the first quarter. Clearbridge Investments LLC now owns 4,701,515 shares of the utilities provider’s stock valued at $129,433,000 after buying an additional 1,572,771 shares during the last quarter. 76.99% of the stock is currently owned by hedge funds and other institutional investors.

PPL Trading Up 1.6 %

Shares of PPL stock opened at $32.46 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 1.12. The firm has a market cap of $23.95 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 2.73 and a beta of 0.82. PPL Co. has a twelve month low of $22.20 and a twelve month high of $32.54. The business has a 50-day moving average price of $30.45 and a 200-day moving average price of $28.71.

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

PPL Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be issued a $0.2575 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.17%. PPL’s dividend payout ratio (DPR) is presently 100.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PPL shares. Wells Fargo & Company lifted their price target on shares of PPL from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Bank of America lifted their target price on PPL from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Morgan Stanley upped their price target on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.18.

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.