TD Asset Management Inc Lowers Stock Position in PPL Co. (NYSE:PPL)

TD Asset Management Inc lessened its holdings in PPL Co. (NYSE:PPL) by 32.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 245,805 shares of the utilities provider’s stock after selling 117,966 shares during the quarter. TD Asset Management Inc’s holdings in PPL were worth $6,504,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Greenleaf Trust lifted its position in shares of PPL by 3.2% in the 1st quarter. Greenleaf Trust now owns 11,571 shares of the utilities provider’s stock worth $322,000 after purchasing an additional 363 shares during the period. Wealth Alliance lifted its position in PPL by 2.2% during the first quarter. Wealth Alliance now owns 17,995 shares of the utilities provider’s stock valued at $500,000 after acquiring an additional 386 shares during the last quarter. IVC Wealth Advisors LLC lifted its position in PPL by 5.3% during the second quarter. IVC Wealth Advisors LLC now owns 7,879 shares of the utilities provider’s stock valued at $208,000 after acquiring an additional 400 shares during the last quarter. Compass Wealth Management LLC lifted its position in PPL by 40.0% during the second quarter. Compass Wealth Management LLC now owns 1,400 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 400 shares during the last quarter. Finally, Centennial Wealth Advisory LLC lifted its position in PPL by 3.9% during the second quarter. Centennial Wealth Advisory LLC now owns 11,025 shares of the utilities provider’s stock valued at $292,000 after acquiring an additional 412 shares during the last quarter. Hedge funds and other institutional investors own 73.09% of the company’s stock.

PPL Trading Up 0.3 %

Shares of PPL stock opened at $26.17 on Tuesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.96 and a quick ratio of 0.79. The firm has a fifty day moving average price of $24.61 and a 200 day moving average price of $25.83. PPL Co. has a 1 year low of $22.20 and a 1 year high of $31.74. The stock has a market cap of $19.29 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 2.22 and a beta of 0.83.

PPL Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.96 annualized dividend and a dividend yield of 3.67%. PPL’s dividend payout ratio (DPR) is presently 86.49%.

Analyst Upgrades and Downgrades

PPL has been the subject of a number of analyst reports. StockNews.com raised shares of PPL from a “sell” rating to a “hold” rating in a research report on Friday, October 13th. Citigroup initiated coverage on shares of PPL in a research report on Thursday, October 5th. They set a “neutral” rating and a $42.00 target price for the company. Barclays decreased their target price on shares of PPL from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 24th. Morgan Stanley lowered their price objective on shares of PPL from $29.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, October 25th. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of PPL in a research report on Monday, October 2nd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $29.88.

About PPL

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.5 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.