Gilman Hill Asset Management LLC Purchases 3,385 Shares of PPL Co. (NYSE:PPL)

Gilman Hill Asset Management LLC grew its position in PPL Co. (NYSE:PPL) by 3.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 109,077 shares of the utilities provider’s stock after acquiring an additional 3,385 shares during the period. Gilman Hill Asset Management LLC’s holdings in PPL were worth $2,968,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in PPL. Enterprise Financial Services Corp lifted its stake in shares of PPL by 93.9% in the 1st quarter. Enterprise Financial Services Corp now owns 1,047 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 507 shares during the last quarter. MV Capital Management Inc. bought a new position in shares of PPL in the 2nd quarter valued at $27,000. CVA Family Office LLC bought a new position in PPL during the 1st quarter worth $37,000. Old North State Trust LLC bought a new position in PPL during the 3rd quarter worth $41,000. Finally, Howe & Rusling Inc. bought a new position in PPL during the 2nd quarter worth $52,000. Institutional investors own 66.64% of the company’s stock.

Shares of PPL stock opened at $28.59 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 1.62. The business has a 50-day moving average price of $27.73 and a two-hundred day moving average price of $26.62. The company has a market cap of $21.98 billion, a P/E ratio of 12.43 and a beta of 0.74. PPL Co. has a 1-year low of $18.12 and a 1-year high of $36.83.

PPL (NYSE:PPL) last issued its earnings results on Monday, August 10th. The utilities provider reported $0.55 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.89 billion. PPL had a return on equity of 14.20% and a net margin of 24.52%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the business posted $0.58 EPS. Equities research analysts forecast that PPL Co. will post 2.41 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th were paid a $0.415 dividend. The ex-dividend date was Wednesday, September 9th. This represents a $1.66 annualized dividend and a dividend yield of 5.81%. PPL’s dividend payout ratio is presently 67.76%.

Several brokerages recently issued reports on PPL. Citigroup raised their target price on PPL from $25.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Morgan Stanley raised their target price on PPL from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Monday, October 5th. UBS Group raised their target price on PPL from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. TheStreet raised PPL from a “c+” rating to a “b-” rating in a research report on Monday, October 12th. Finally, Seaport Global Securities raised PPL from a “sell” rating to a “neutral” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. PPL currently has an average rating of “Hold” and an average price target of $35.87.

PPL Company Profile

PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 418,000 electric and 329,000 natural gas customers in Louisville and adjacent areas in Kentucky; 530,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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