Xcel Wealth Management LLC Sells 138,055 Shares of PPL Co. (NYSE:PPL)

by · The Markets Daily

Xcel Wealth Management LLC trimmed its holdings in shares of PPL Co. (NYSE:PPL – Free Report) by 69.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,849 shares of the utilities provider’s stock after selling 138,055 shares during the quarter. Xcel Wealth Management LLC’s holdings in PPL were worth $1,980,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PPL. Sequoia Financial Advisors LLC acquired a new stake in PPL in the third quarter valued at $345,000. Stewardship Advisors LLC acquired a new stake in shares of PPL in the third quarter valued at about $466,000. McClarren Financial Advisors Inc. raised its position in shares of PPL by 5,759.3% during the third quarter. McClarren Financial Advisors Inc. now owns 1,582 shares of the utilities provider’s stock worth $52,000 after acquiring an additional 1,555 shares during the last quarter. Bernardo Wealth Planning LLC acquired a new position in shares of PPL in the third quarter worth approximately $203,000. Finally, Raymond James & Associates boosted its holdings in PPL by 27.3% in the third quarter. Raymond James & Associates now owns 1,928,046 shares of the utilities provider’s stock valued at $63,780,000 after acquiring an additional 413,517 shares during the last quarter. 76.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Bank of America raised their price target on shares of PPL from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Wells Fargo & Company upped their price target on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Morgan Stanley lifted their price objective on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Jefferies Financial Group began coverage on PPL in a research report on Thursday, September 19th. They set a “buy” rating and a $38.00 target price on the stock. Finally, Barclays lifted their target price on PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a report on Monday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, PPL has a consensus rating of “Moderate Buy” and an average target price of $35.22.

Read Our Latest Stock Analysis on PPL

PPL Stock Down 0.4 %

NYSE PPL traded down $0.13 during mid-day trading on Tuesday, hitting $32.60. The company’s stock had a trading volume of 988,820 shares, compared to its average volume of 4,829,257. The firm has a market capitalization of $24.05 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 2.79 and a beta of 0.82. The company’s 50 day simple moving average is $32.12 and its 200 day simple moving average is $29.70. 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 twelve month low of $23.36 and a twelve month high of $33.38.

PPL (NYSE:PPL – Get Free Report) last issued its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the company earned $0.29 earnings per share. The business’s revenue was up 3.2% on a year-over-year basis. Analysts anticipate that PPL Co. will post 1.72 earnings per share for the current year.

PPL Dividend Announcement

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. The ex-dividend date was Tuesday, September 10th. This represents a $1.03 annualized dividend and a yield of 3.16%. PPL’s dividend payout ratio (DPR) is currently 90.35%.

PPL 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.

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