New England Asset Management Inc. Sells 41,985 Shares of PPL Co. (NYSE:PPL)

New England Asset Management Inc. lessened its holdings in shares of PPL Co. (NYSE:PPL - Free Report) by 12.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 301,130 shares of the utilities provider's stock after selling 41,985 shares during the quarter. PPL makes up approximately 1.7% of New England Asset Management Inc.'s portfolio, making the stock its 10th largest holding. New England Asset Management Inc.'s holdings in PPL were worth $9,775,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PPL. Summit Securities Group LLC bought a new position in PPL during the fourth quarter worth $26,000. Kentucky Trust Co acquired a new stake in PPL in the 4th quarter worth $32,000. Lee Danner & Bass Inc. bought a new position in shares of PPL during the 4th quarter worth about $32,000. Rosenberg Matthew Hamilton raised its position in shares of PPL by 1,092.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider's stock valued at $39,000 after buying an additional 1,114 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of PPL by 84.5% in the fourth quarter. Larson Financial Group LLC now owns 1,264 shares of the utilities provider's stock valued at $41,000 after buying an additional 579 shares during the period. 76.99% of the stock is owned by institutional investors.

PPL Trading Up 2.7%

Shares of NYSE:PPL traded up $0.90 during midday trading on Thursday, hitting $34.42. The company had a trading volume of 6,865,550 shares, compared to its average volume of 4,933,661. The company has a current ratio of 0.86, a quick ratio of 0.71 and a debt-to-equity ratio of 1.13. PPL Co. has a 12 month low of $27.24 and a 12 month high of $36.70. The firm has a fifty day simple moving average of $35.17 and a 200 day simple moving average of $33.99. The stock has a market cap of $25.45 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 2.77 and a beta of 0.70.

PPL (NYSE:PPL - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.07. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.15 billion. PPL had a net margin of 10.49% and a return on equity of 8.88%. PPL's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.54 EPS. On average, analysts predict that PPL Co. will post 1.83 EPS for the current year.

Insiders Place Their Bets

In other PPL news, insider Christine M. Martin sold 1,146 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $34.78, for a total value of $39,857.88. Following the sale, the insider now owns 37,167 shares in the company, valued at approximately $1,292,668.26. The trade was a 2.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.22% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on PPL shares. Morgan Stanley boosted their price objective on PPL from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Barclays raised their price objective on shares of PPL from $33.00 to $36.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 25th. UBS Group upped their target price on shares of PPL from $35.00 to $36.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. StockNews.com raised shares of PPL from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Finally, Citigroup upgraded shares of PPL from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $36.90.

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.