Stiles Financial Services Inc Makes New $211,000 Investment in PPL Co. (NYSE:PPL)

Stiles Financial Services Inc purchased a new position in PPL Co. (NYSE:PPL) in the 3rd quarter, HoldingsChannel reports. The fund purchased 6,387 shares of the utilities provider’s stock, valued at approximately $211,000.

A number of other large investors have also modified their holdings of the stock. Fortitude Family Office LLC increased its stake in shares of 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 buying an additional 516 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of PPL in the 2nd quarter valued at $29,000. Redwood Wealth Management Group LLC purchased a new stake in shares of PPL during the 2nd quarter worth $29,000. Lynx Investment Advisory acquired a new position in shares of PPL during the second quarter worth $38,000. Finally, Family Firm Inc. purchased a new position in PPL in the second quarter valued at $38,000. Hedge funds and other institutional investors own 76.99% of the company’s stock.

PPL Trading Up 2.2 %

Shares of PPL stock opened at $33.06 on Friday. The company’s fifty day moving average is $32.40 and its two-hundred day moving average is $30.21. PPL Co. has a 1 year low of $24.93 and a 1 year high of $33.38. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.07 and a current ratio of 1.29. The company has a market capitalization of $24.40 billion, a P/E ratio of 29.52, a PEG ratio of 2.78 and a beta of 0.81.

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

PPL Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were issued a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Tuesday, September 10th. PPL’s dividend payout ratio is presently 91.97%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Barclays lifted their price target on PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. JPMorgan Chase & Co. started coverage on PPL in a report on Friday, October 25th. They issued an “overweight” rating and a $37.00 price target for the company. Wells Fargo & Company raised their price objective on shares of PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Morgan Stanley upped their target price on shares of PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Bank of America lifted their price target on shares of PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $35.50.

PPL Profile

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.