Xcel Wealth Management LLC Reduces Stock Position in PPL Co. (NYSE:PPL)

Xcel Wealth Management LLC cut its stake in PPL Co. (NYSE:PPLFree Report) by 10.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 216,122 shares of the utilities provider’s stock after selling 26,560 shares during the quarter. PPL makes up about 2.1% of Xcel Wealth Management LLC’s portfolio, making the stock its 13th largest position. Xcel Wealth Management LLC’s holdings in PPL were worth $5,857,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PPL. Valeo Financial Advisors LLC bought a new stake in PPL during the 4th quarter worth approximately $261,000. Morton Brown Family Wealth LLC increased its holdings in shares of PPL by 1,968.7% in the fourth quarter. Morton Brown Family Wealth LLC now owns 7,861 shares of the utilities provider’s stock worth $213,000 after purchasing an additional 7,481 shares during the period. Cerity Partners LLC purchased a new stake in shares of PPL in the fourth quarter worth $505,000. Sandy Spring Bank boosted its stake in PPL by 30.2% during the fourth quarter. Sandy Spring Bank now owns 2,907 shares of the utilities provider’s stock valued at $79,000 after buying an additional 675 shares during the period. Finally, Mutual of America Capital Management LLC grew its position in PPL by 6.3% during the fourth quarter. Mutual of America Capital Management LLC now owns 154,246 shares of the utilities provider’s stock worth $4,180,000 after buying an additional 9,139 shares in the last quarter. 76.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PPL has been the subject of a number of research analyst reports. Argus upgraded PPL from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Friday, March 8th. Bank of America increased their price target on shares of PPL from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday. TheStreet downgraded shares of PPL from a “b-” rating to a “c” rating in a report on Friday, February 16th. Wells Fargo & Company reduced their target price on PPL from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 20th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $52.00 price objective on shares of PPL in a report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.50.

Read Our Latest Stock Report on PPL

PPL Trading Down 0.4 %

NYSE PPL traded down $0.11 during trading on Friday, hitting $26.63. 3,918,103 shares of the company’s stock traded hands, compared to its average volume of 5,068,024. The stock has a fifty day moving average of $26.73 and a two-hundred day moving average of $26.03. PPL Co. has a 12-month low of $22.20 and a 12-month high of $29.03. The firm has a market cap of $19.64 billion, a P/E ratio of 26.68, a PEG ratio of 2.43 and a beta of 0.81. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.88 and a quick ratio of 0.73.

PPL (NYSE:PPLGet Free Report) last released its earnings results on Friday, February 16th. The utilities provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. PPL had a return on equity of 8.45% and a net margin of 8.90%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the company posted $0.28 EPS. PPL’s revenue for the quarter was down 11.3% on a year-over-year basis. As a group, sell-side analysts expect that PPL Co. will post 1.71 EPS for the current year.

PPL Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were issued a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from PPL’s previous quarterly dividend of $0.24. PPL’s dividend payout ratio (DPR) is 103.00%.

PPL Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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