Pinnacle Wealth Management Advisory Group LLC Sells 2,380 Shares of PPL Co. (NYSE:PPL)

Pinnacle Wealth Management Advisory Group LLC lowered its position in shares of PPL Co. (NYSE:PPL) by 15.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,728 shares of the utilities provider’s stock after selling 2,380 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in PPL were worth $345,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Altshuler Shaham Ltd bought a new stake in shares of PPL during the 3rd quarter worth $26,000. Allworth Financial LP raised its holdings in shares of PPL by 179.8% in the 4th quarter. Allworth Financial LP now owns 1,038 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 667 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in shares of PPL in the fourth quarter valued at $30,000. Authentikos Wealth Advisory LLC purchased a new position in PPL in the 3rd quarter valued at approximately $35,000. Finally, Anchor Investment Management LLC bought a new stake in shares of PPL during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 76.99% of the company’s stock.

PPL Stock Up 1.1 %

Shares of PPL stock traded up $0.31 on Thursday, reaching $28.83. The stock had a trading volume of 1,531,318 shares, compared to its average volume of 4,964,994. The stock has a market capitalization of $21.27 billion, a P/E ratio of 27.69, a P/E/G ratio of 2.55 and a beta of 0.81. PPL Co. has a 1 year low of $22.20 and a 1 year high of $28.92. The company has a quick ratio of 1.08, a current ratio of 1.28 and a debt-to-equity ratio of 1.12. The company has a 50 day moving average price of $27.10 and a 200 day moving average price of $26.51.

PPL (NYSE:PPL) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. PPL had a return on equity of 8.80% and a net margin of 9.29%. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter last year, the firm earned $0.48 EPS. The business’s quarterly revenue was down 4.6% on a year-over-year basis. As a group, equities research analysts forecast that PPL Co. will post 1.71 EPS for the current year.

PPL Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a $0.2575 dividend. This is a boost from PPL’s previous quarterly dividend of $0.24. This represents a $1.03 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend was Thursday, March 7th. PPL’s dividend payout ratio (DPR) is presently 100.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Mizuho increased their price objective on PPL from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Argus upgraded shares of PPL from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Friday, March 8th. Royal Bank of Canada lifted their price objective on PPL from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. TheStreet lowered PPL from a “b-” rating to a “c” rating in a research report on Friday, February 16th. Finally, Bank of America lifted their target price on shares of PPL from $29.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, PPL currently has an average rating of “Hold” and a consensus target price of $32.27.

PPL Company 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.