Grandview Asset Management LLC Has $5.97 Million Stock Position in PPL Corporation (NYSE:PPL)

Grandview Asset Management LLC boosted its stake in PPL Corporation (NYSE:PPL) by 0.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 165,429 shares of the utilities provider’s stock after buying an additional 524 shares during the period. PPL accounts for 2.3% of Grandview Asset Management LLC’s portfolio, making the stock its 9th biggest holding. Grandview Asset Management LLC’s holdings in PPL were worth $5,974,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC bought a new position in shares of PPL during the 4th quarter valued at about $26,000. Lee Danner & Bass Inc. bought a new position in shares of PPL during the 4th quarter valued at about $32,000. Larson Financial Group LLC boosted its position in shares of PPL by 84.5% during the 4th quarter. Larson Financial Group LLC now owns 1,264 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 579 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of PPL by 121.4% in the first quarter. AdvisorNet Financial Inc now owns 1,581 shares of the utilities provider’s stock worth $57,000 after buying an additional 867 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of PPL by 69.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,072 shares of the utilities provider’s stock worth $67,000 after buying an additional 846 shares during the period. Institutional investors own 76.99% of the company’s stock.

Insider Transactions at PPL

In other PPL news, COO David J. Bonenberger sold 1,767 shares of PPL stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $34.98, for a total transaction of $61,809.66. Following the sale, the chief operating officer now owns 45,485 shares in the company, valued at $1,591,065.30. The trade was a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is currently owned by corporate insiders.

PPL Trading Down 0.7%

NYSE:PPL opened at $33.42 on Wednesday. The company’s 50 day moving average is $34.95 and its 200-day moving average is $34.12. The firm has a market cap of $24.71 billion, a price-to-earnings ratio of 24.76, a P/E/G ratio of 2.48 and a beta of 0.65. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. PPL Corporation has a 12 month low of $27.24 and a 12 month high of $36.70.

PPL (NYSE:PPL) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.07. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.15 billion. PPL had a net margin of 11.49% and a return on equity of 9.14%. PPL’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company posted $0.54 earnings per share. Equities analysts anticipate that PPL Corporation will post 1.83 EPS for the current year.

PPL Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be paid a $0.2725 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.09 annualized dividend and a dividend yield of 3.26%. PPL’s payout ratio is 80.74%.

Analyst Upgrades and Downgrades

Several research analysts have commented on PPL shares. Citigroup upgraded shares of PPL from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Guggenheim raised their price target on shares of PPL from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. UBS Group raised their price target on shares of PPL from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Morgan Stanley raised their price target on shares of PPL from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Finally, Barclays raised their price target on shares of PPL from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.90.

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.