Opal Wealth Advisors LLC Boosts Holdings in PPL Co. (NYSE:PPL)

by · The Markets Daily

Opal Wealth Advisors LLC lifted its stake in shares of PPL Co. (NYSE:PPL – Free Report) by 1,111.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,492 shares of the utilities provider’s stock after buying an additional 5,956 shares during the quarter. Opal Wealth Advisors LLC’s holdings in PPL were worth $215,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of PPL during the second quarter worth approximately $29,000. Redwood Wealth Management Group LLC acquired a new stake in shares of PPL during the second quarter worth approximately $29,000. Lynx Investment Advisory acquired a new stake in shares of PPL during the second quarter worth approximately $38,000. Family Firm Inc. acquired a new position in PPL in the second quarter worth $38,000. Finally, Central Pacific Bank Trust Division acquired a new position in PPL in the first quarter worth $42,000. Institutional investors and hedge funds own 76.99% of the company’s stock.

PPL Stock Up 0.9 %

PPL opened at $32.62 on Thursday. The stock’s 50 day moving average price is $32.00 and its 200 day moving average price is $29.58. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.11 and a quick ratio of 0.91. The stock has a market cap of $24.07 billion, a P/E ratio of 31.67, a P/E/G ratio of 2.72 and a beta of 0.82. PPL Co. has a 12 month low of $23.36 and a 12 month high of $33.38.

PPL (NYSE:PPL – Get Free Report) last issued its quarterly earnings results on Friday, August 2nd. The utilities provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.92 billion. PPL had a return on equity of 9.26% and a net margin of 10.17%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.29 earnings per share. As a group, research analysts predict that PPL Co. will post 1.72 earnings per share for the current year.

PPL Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were issued a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Tuesday, September 10th. PPL’s dividend payout ratio (DPR) is presently 100.00%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Wells Fargo & Company lifted 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. Bank of America lifted their price objective on shares of PPL from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Jefferies Financial Group assumed coverage on shares of PPL in a report on Thursday, September 19th. They issued a “buy” rating and a $38.00 price objective for the company. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.56.

Read Our Latest Analysis on PPL

PPL Company 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.

Further Reading

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