6,625 Shares in PPL Co. (NYSE:PPL) Bought by Hudson Valley Investment Advisors Inc. ADV

Hudson Valley Investment Advisors Inc. ADV purchased a new stake in PPL Co. (NYSE:PPL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,625 shares of the utilities provider’s stock, valued at approximately $219,000.

Other hedge funds also recently made changes to their positions in the company. New York State Teachers Retirement System lifted its stake in PPL by 5.2% during the third quarter. New York State Teachers Retirement System now owns 646,535 shares of the utilities provider’s stock worth $21,387,000 after purchasing an additional 32,067 shares during the period. Tyche Wealth Partners LLC bought a new position in shares of PPL during the 3rd quarter worth approximately $229,000. Fortitude Family Office LLC lifted its position in shares of PPL by 195.5% during the 3rd quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock worth $26,000 after buying an additional 516 shares during the period. abrdn plc boosted its stake in PPL by 26.3% in the 3rd quarter. abrdn plc now owns 891,238 shares of the utilities provider’s stock valued at $29,469,000 after buying an additional 185,491 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in PPL by 38.9% in the third quarter. Nisa Investment Advisors LLC now owns 375,772 shares of the utilities provider’s stock valued at $12,633,000 after acquiring an additional 105,310 shares during the period. Institutional investors and hedge funds own 76.99% of the company’s stock.

PPL Stock Performance

Shares of NYSE:PPL opened at $32.56 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 1.12. PPL Co. has a 1-year low of $24.24 and a 1-year high of $33.38. The stock has a market capitalization of $24.02 billion, a P/E ratio of 28.56, a P/E/G ratio of 2.75 and a beta of 0.82. The business has a 50-day moving average price of $32.33 and a two-hundred day moving average price of $29.97.

PPL (NYSE:PPL) last posted its quarterly earnings results on Friday, August 2nd. The utilities provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. PPL had a net margin of 10.17% and a return on equity of 9.26%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the previous year, the firm posted $0.29 earnings per share. PPL’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities analysts predict that PPL Co. will post 1.72 earnings per share for the current year.

PPL Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were given a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Tuesday, September 10th. PPL’s payout ratio is 90.35%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of PPL in a research note on Thursday, September 19th. They issued a “buy” rating and a $38.00 target price on the stock. 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 report on Friday, August 23rd. JPMorgan Chase & Co. began coverage on PPL in a research note on Friday, October 25th. They issued an “overweight” rating and a $37.00 price objective on the stock. Wells Fargo & Company raised their target price on PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Barclays upped their price target on shares of PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, PPL currently has an average rating of “Moderate Buy” and an average target price of $35.40.

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.