142,662 Shares in PPL Co. (NYSE:PPL) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new stake in PPL Co. (NYSE:PPL) during the fourth quarter, Holdings Channel reports. The firm purchased 142,662 shares of the utilities provider’s stock, valued at approximately $4,631,000.

Other hedge funds have also recently bought and sold shares of the company. Kentucky Trust Co acquired a new stake in shares of PPL in the 4th quarter valued at $32,000. Rosenberg Matthew Hamilton lifted 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 purchasing an additional 1,114 shares during the last quarter. Newton One Investments LLC acquired a new position in PPL in the fourth quarter valued at about $49,000. Catalyst Capital Advisors LLC bought a new stake in PPL during the fourth quarter worth about $71,000. Finally, Brooklyn Investment Group acquired a new stake in shares of PPL during the third quarter worth approximately $75,000. 76.99% of the stock is currently owned by institutional investors and hedge funds.

PPL Stock Performance

Shares of NYSE:PPL opened at $35.19 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.71 and a debt-to-equity ratio of 1.13. PPL Co. has a 1-year low of $25.93 and a 1-year high of $35.91. The stock has a market capitalization of $25.98 billion, a P/E ratio of 29.08, a P/E/G ratio of 2.77 and a beta of 0.76. The business has a 50-day moving average price of $33.76 and a two-hundred day moving average price of $33.12.

PPL (NYSE:PPL) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.34 earnings per share 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 business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.09 billion. Equities analysts predict that PPL Co. will post 1.83 earnings per share for the current year.

PPL Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a $0.2725 dividend. This is a positive change from PPL’s previous quarterly dividend of $0.26. This represents a $1.09 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Monday, March 10th. PPL’s dividend payout ratio (DPR) is currently 90.08%.

Analysts Set New Price Targets

Several research analysts have recently commented on PPL shares. Jefferies Financial Group reduced their target price on PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Citigroup raised PPL from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. BMO Capital Markets started coverage on PPL in a research note on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 target price for the company. Finally, Barclays upped their price target on shares of PPL from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 25th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, PPL has an average rating of “Moderate Buy” and an average price target of $34.70.

Insider Buying and Selling

In related news, COO David J. Bonenberger sold 981 shares of PPL stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $33.48, for a total transaction of $32,843.88. Following the transaction, the chief operating officer now owns 45,414 shares of the company’s stock, valued at $1,520,460.72. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christine M. Martin sold 1,146 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were 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 directly owns 37,167 shares of the company’s stock, valued at $1,292,668.26. The trade was a 2.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,140 shares of company stock valued at $173,005 over the last three months. Company insiders own 0.22% of the company’s stock.

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.