Xcel Wealth Management LLC Sells 9,500 Shares of PPL Corporation (NYSE:PPL)

Xcel Wealth Management LLC trimmed its position in PPL Corporation (NYSE:PPL - Free Report) by 20.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,644 shares of the utilities provider's stock after selling 9,500 shares during the quarter. Xcel Wealth Management LLC's holdings in PPL were worth $1,359,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinnacle Bancorp Inc. lifted its position in shares of PPL by 141.0% in the first quarter. Pinnacle Bancorp Inc. now owns 723 shares of the utilities provider's stock worth $26,000 after purchasing an additional 423 shares in the last quarter. Summit Securities Group LLC bought a new position in PPL during the fourth quarter valued at approximately $26,000. Lee Danner & Bass Inc. bought a new position in PPL during the fourth quarter valued at approximately $32,000. Larson Financial Group LLC raised its position in PPL by 84.5% during the fourth quarter. Larson Financial Group LLC now owns 1,264 shares of the utilities provider's stock valued at $41,000 after acquiring an additional 579 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its position in PPL by 121.4% during the first quarter. AdvisorNet Financial Inc now owns 1,581 shares of the utilities provider's stock valued at $57,000 after acquiring an additional 867 shares in the last quarter. 76.99% of the stock is currently owned by institutional investors and hedge funds.

PPL Stock Performance

PPL traded up $0.22 during trading on Friday, reaching $33.76. 2,411,936 shares of the company's stock were exchanged, compared to its average volume of 4,977,759. PPL Corporation has a fifty-two week low of $27.24 and a fifty-two week high of $36.70. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The business has a 50 day moving average price of $34.52 and a 200 day moving average price of $34.20. The company has a market capitalization of $24.96 billion, a P/E ratio of 25.01, a PEG ratio of 2.49 and a beta of 0.64.

PPL (NYSE:PPL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.07. PPL had a net margin of 11.49% and a return on equity of 9.14%. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the previous year, the company earned $0.54 earnings per share. The business's revenue was up 8.7% compared to the same quarter last year. As a group, analysts predict that PPL Corporation will post 1.83 earnings per share for the current fiscal year.

PPL Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th were paid a dividend of $0.2725 per share. The ex-dividend date was Tuesday, June 10th. This represents a $1.09 dividend on an annualized basis and a yield of 3.23%. PPL's dividend payout ratio is currently 80.74%.

Insiders Place Their Bets

In other news, COO David J. Bonenberger sold 1,767 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $34.98, for a total value of $61,809.66. Following the sale, the chief operating officer owned 45,485 shares in the company, valued at approximately $1,591,065.30. The trade was a 3.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PPL has been the topic of several analyst reports. Barclays lowered their price target on PPL from $36.00 to $35.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 1st. Citigroup upgraded PPL from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. UBS Group increased their price target on PPL from $35.00 to $36.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Guggenheim raised their price objective on shares of PPL from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Wall Street Zen upgraded shares of PPL from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, PPL currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.70.

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.