Spirit of America Management Corp NY Has $1.53 Million Stock Holdings in PPL Co. (NYSE:PPL)

Spirit of America Management Corp NY raised its stake in PPL Co. (NYSE:PPL) by 4.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,100 shares of the utilities provider’s stock after acquiring an additional 2,100 shares during the quarter. Spirit of America Management Corp NY’s holdings in PPL were worth $1,525,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Clearbridge Investments LLC lifted its holdings in PPL by 25.3% during the 2nd quarter. Clearbridge Investments LLC now owns 5,890,854 shares of the utilities provider’s stock worth $162,882,000 after purchasing an additional 1,189,339 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of PPL by 91.3% in the second quarter. Point72 Asset Management L.P. now owns 5,821,936 shares of the utilities provider’s stock valued at $160,977,000 after acquiring an additional 2,778,820 shares during the period. Electron Capital Partners LLC grew its stake in shares of PPL by 71.3% in the second quarter. Electron Capital Partners LLC now owns 4,306,007 shares of the utilities provider’s stock valued at $119,061,000 after acquiring an additional 1,792,200 shares in the last quarter. Jennison Associates LLC increased its position in PPL by 21.8% during the first quarter. Jennison Associates LLC now owns 4,217,410 shares of the utilities provider’s stock worth $116,105,000 after acquiring an additional 755,689 shares during the period. Finally, Bank of Montreal Can raised its stake in PPL by 3.4% in the 2nd quarter. Bank of Montreal Can now owns 3,228,776 shares of the utilities provider’s stock worth $89,808,000 after purchasing an additional 104,662 shares in the last quarter. 76.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PPL has been the topic of several recent research reports. Morgan Stanley raised their target price on shares of PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Barclays upped their target price on PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a research report on Monday. Bank of America boosted their price target on PPL from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Jefferies Financial Group started coverage on shares of PPL in a research note on Thursday, September 19th. They set a “buy” rating and a $38.00 price objective on the stock. Finally, Wells Fargo & Company boosted 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. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, PPL has a consensus rating of “Moderate Buy” and a consensus price target of $35.22.

PPL Stock Down 0.8 %

Shares of PPL opened at $32.87 on Friday. 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 Co. has a 52 week low of $23.99 and a 52 week high of $33.38. The stock has a market capitalization of $24.25 billion, a price-to-earnings ratio of 28.83, a PEG ratio of 2.79 and a beta of 0.82. The stock has a fifty day moving average of $32.20 and a 200-day moving average of $29.77.

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

PPL Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were paid a $0.2575 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $1.03 annualized dividend and a dividend yield of 3.13%. PPL’s dividend payout ratio is 90.35%.

About PPL

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.