Heritage Wealth Management Inc. Buys Shares of 6,514 PPL Co. (NYSE:PPL)

Heritage Wealth Management Inc. bought a new position in PPL Co. (NYSE:PPL) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 6,514 shares of the utilities provider’s stock, valued at approximately $215,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PPL. Fortitude Family Office LLC raised its stake in PPL by 195.5% during the third quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 516 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in PPL during the second quarter worth about $29,000. Redwood Wealth Management Group LLC purchased a new position in PPL during the second quarter worth about $29,000. Lynx Investment Advisory purchased a new position in PPL during the second quarter worth about $38,000. Finally, Family Firm Inc. purchased a new position in PPL during the second quarter worth about $38,000. Institutional investors and hedge funds own 76.99% of the company’s stock.

PPL Stock Up 0.7 %

PPL traded up $0.22 during trading hours on Friday, hitting $32.56. 107,309 shares of the company’s stock were exchanged, compared to its average volume of 4,846,614. The company has a current ratio of 1.29, a quick ratio of 1.07 and a debt-to-equity ratio of 1.17. PPL Co. has a 12-month low of $24.93 and a 12-month high of $33.38. The firm has a market cap of $24.03 billion, a P/E ratio of 28.88, a price-to-earnings-growth ratio of 2.74 and a beta of 0.81. The firm has a 50 day moving average of $32.36 and a 200 day moving average of $30.16.

PPL (NYSE:PPL) last posted its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. PPL had a net margin of 9.95% and a return on equity of 9.20%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the previous year, the business posted $0.43 EPS. The firm’s revenue was up 1.1% on a year-over-year basis. Analysts predict that PPL Co. will post 1.72 EPS for the current fiscal year.

PPL Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were issued a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Tuesday, September 10th. PPL’s dividend payout ratio (DPR) is presently 91.96%.

Analyst Upgrades and Downgrades

PPL has been the topic of a number of research analyst reports. Bank of America boosted their price target on shares of PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company boosted their price target on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Morgan Stanley boosted their price target on shares of PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. initiated coverage on shares of PPL in a research note on Friday, October 25th. They issued an “overweight” rating and a $37.00 price target on the stock. Finally, Barclays boosted their price target on shares of PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.50.

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.