Sentry Investment Management LLC Acquires Shares of 3,037 PPL Co. (NYSE:PPL)

Sentry Investment Management LLC bought a new position in PPL Co. (NYSE:PPL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,037 shares of the utilities provider’s stock, valued at approximately $100,000.

Several other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC grew its position in PPL by 195.5% during the 3rd quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 516 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in PPL during the second quarter valued at $29,000. Redwood Wealth Management Group LLC purchased a new stake in PPL in the 2nd quarter worth about $29,000. Lynx Investment Advisory acquired a new stake in PPL during the 2nd quarter worth about $38,000. Finally, Family Firm Inc. purchased a new position in PPL during the 2nd quarter valued at about $38,000. 76.99% of the stock is owned by hedge funds and other institutional investors.

PPL Price Performance

NYSE PPL opened at $32.59 on Wednesday. The company has a market cap of $24.04 billion, a P/E ratio of 29.10, a P/E/G ratio of 2.70 and a beta of 0.81. PPL Co. has a 1 year low of $24.93 and a 1 year high of $33.38. The company has a current ratio of 1.29, a quick ratio of 1.07 and a debt-to-equity ratio of 1.17. The company has a fifty day simple moving average of $32.35 and a 200 day simple moving average of $30.14.

PPL (NYSE:PPL) last issued its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. PPL had a return on equity of 9.20% and a net margin of 9.95%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period last year, the business posted $0.43 earnings per share. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts predict that PPL Co. will post 1.72 EPS for the current year.

PPL Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were issued a dividend of $0.2575 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.03 annualized dividend and a dividend yield of 3.16%. PPL’s payout ratio is 91.97%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Jefferies Financial Group began coverage on shares of PPL in a research report on Thursday, September 19th. They set a “buy” rating and a $38.00 price objective on the stock. Barclays upped their price target on shares of PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. began coverage on PPL in a research note on Friday, October 25th. They issued an “overweight” rating and a $37.00 target price on the stock. Bank of America raised their price target on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Morgan Stanley boosted their price target on PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.50.

About PPL

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.