Wealth Enhancement Advisory Services LLC Has $2.87 Million Stock Position in PPL Corporation (NYSE:PPL)

Wealth Enhancement Advisory Services LLC lessened its stake in shares of PPL Corporation (NYSE:PPL - Free Report) by 47.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 79,489 shares of the utilities provider's stock after selling 72,971 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in PPL were worth $2,870,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in PPL. Boston Partners lifted its position in shares of PPL by 8,266.9% during the 4th quarter. Boston Partners now owns 9,518,141 shares of the utilities provider's stock worth $309,060,000 after purchasing an additional 9,404,382 shares during the last quarter. Norges Bank acquired a new position in shares of PPL in the 4th quarter worth approximately $228,509,000. Raymond James Financial Inc. acquired a new position in shares of PPL in the 4th quarter worth approximately $147,480,000. Invesco Ltd. raised its holdings in shares of PPL by 14.0% in the 4th quarter. Invesco Ltd. now owns 27,465,566 shares of the utilities provider's stock worth $891,532,000 after buying an additional 3,380,745 shares in the last quarter. Finally, Reaves W H & Co. Inc. raised its holdings in shares of PPL by 182.2% in the 4th quarter. Reaves W H & Co. Inc. now owns 3,951,116 shares of the utilities provider's stock worth $128,254,000 after buying an additional 2,551,070 shares in the last quarter. Institutional investors own 76.99% of the company's stock.

Insider Transactions at PPL

In related news, COO David J. Bonenberger sold 1,767 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $34.98, for a total transaction of $61,809.66. Following the sale, the chief operating officer now owns 45,485 shares of the company's stock, valued at approximately $1,591,065.30. This trade represents a 3.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.28% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PPL has been the subject of a number of recent research reports. Morgan Stanley dropped their target price on PPL from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. Wall Street Zen raised PPL from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Citigroup raised PPL from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. UBS Group increased their target price on PPL from $35.00 to $36.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Finally, Guggenheim increased their price target on PPL from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $36.80.

PPL Price Performance

NYSE PPL traded down $0.06 during trading hours on Friday, reaching $33.57. 7,825,200 shares of the company's stock were exchanged, compared to its average volume of 4,979,801. The stock has a market cap of $24.81 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 2.48 and a beta of 0.65. PPL Corporation has a one year low of $27.24 and a one year high of $36.70. The firm has a fifty day moving average of $34.74 and a 200-day moving average of $34.12. The company has a current ratio of 0.81, a quick ratio of 0.68 and a debt-to-equity ratio of 1.11.

PPL (NYSE:PPL - Get Free Report) last released its earnings results on Wednesday, April 30th. The utilities provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.53 by $0.07. The company had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.15 billion. PPL had a return on equity of 9.14% and a net margin of 11.49%. The business's revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the firm earned $0.54 EPS. On average, equities research analysts predict that PPL Corporation will post 1.83 earnings per share for the current fiscal year.

PPL Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be given a $0.2725 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $1.09 annualized dividend and a dividend yield of 3.25%. PPL's dividend payout ratio is currently 80.74%.

PPL 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.