Econ Financial Services Corp Has $2.62 Million Stock Position in PPL Co. (NYSE:PPL)

Econ Financial Services Corp boosted its stake in PPL Co. (NYSE:PPLGet Rating) by 61.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 91,585 shares of the utilities provider’s stock after buying an additional 34,707 shares during the period. PPL makes up 1.9% of Econ Financial Services Corp’s portfolio, making the stock its 22nd largest holding. Econ Financial Services Corp’s holdings in PPL were worth $2,616,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crossmark Global Holdings Inc. grew its position in shares of PPL by 2.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 41,901 shares of the utilities provider’s stock worth $1,260,000 after purchasing an additional 940 shares in the last quarter. Gateway Investment Advisers LLC acquired a new position in shares of PPL during the 4th quarter worth approximately $288,000. Investors Financial Group LLC acquired a new position in shares of PPL during the 4th quarter worth approximately $202,000. Spire Wealth Management grew its position in shares of PPL by 36.1% during the 4th quarter. Spire Wealth Management now owns 18,045 shares of the utilities provider’s stock worth $544,000 after purchasing an additional 4,785 shares in the last quarter. Finally, Trilogy Capital Inc. grew its position in shares of PPL by 4.8% during the 4th quarter. Trilogy Capital Inc. now owns 39,129 shares of the utilities provider’s stock worth $1,176,000 after purchasing an additional 1,788 shares in the last quarter. Institutional investors and hedge funds own 65.63% of the company’s stock.

In other news, insider Stephanie R. Raymond sold 3,374 shares of the company’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $30.45, for a total value of $102,738.30. Following the sale, the insider now directly owns 23,182 shares of the company’s stock, valued at approximately $705,891.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by corporate insiders.

PPL has been the topic of several analyst reports. Wells Fargo & Company increased their price target on shares of PPL from $33.00 to $34.00 in a research report on Tuesday, June 7th. Credit Suisse Group dropped their price objective on shares of PPL from $33.00 to $29.00 and set an “outperform” rating for the company in a research note on Thursday, June 16th. Argus downgraded shares of PPL from a “buy” rating to a “hold” rating in a research note on Monday, April 4th. Morgan Stanley dropped their price target on shares of PPL from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Monday, May 23rd. Finally, StockNews.com cut shares of PPL from a “buy” rating to a “hold” rating in a research report on Wednesday, June 8th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, PPL has an average rating of “Hold” and an average price target of $30.75.

Shares of NYSE:PPL opened at $27.76 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 1.79 and a debt-to-equity ratio of 0.77. PPL Co. has a 12 month low of $24.98 and a 12 month high of $30.72. The stock has a market cap of $20.43 billion, a P/E ratio of 32.66 and a beta of 0.75. The company has a 50 day moving average of $28.43 and a 200 day moving average of $28.51.

PPL (NYSE:PPLGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. PPL had a net margin of 10.43% and a return on equity of 6.25%. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the company earned $0.28 EPS. The firm’s revenue was up 19.0% on a year-over-year basis. On average, equities analysts forecast that PPL Co. will post 1.38 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Tuesday, June 21st were issued a $0.225 dividend. The ex-dividend date of this dividend was Friday, June 17th. This is a positive change from PPL’s previous quarterly dividend of $0.20. This represents a $0.90 annualized dividend and a yield of 3.24%. PPL’s dividend payout ratio is 105.88%.

About PPL (Get Rating)

PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through two segments: Kentucky Regulated and Pennsylvania Regulated. It serves approximately 429,000 electric and 333,000 natural gas customers in Louisville and adjacent areas in Kentucky; 538,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in five counties in southwestern Virginia.

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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