Massachusetts Financial Services Co. MA Has $215.43 Million Holdings in PPL Co. (NYSE:PPL)

Massachusetts Financial Services Co. MA increased its holdings in shares of PPL Co. (NYSE:PPL) by 0.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,512,407 shares of the utilities provider’s stock after purchasing an additional 55,594 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.88% of PPL worth $215,430,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Fortitude Family Office LLC boosted its stake in shares of 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 buying an additional 516 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in PPL during the second quarter valued at approximately $29,000. Redwood Wealth Management Group LLC bought a new position in PPL in the second quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new position in shares of PPL during the 3rd quarter worth approximately $34,000. Finally, Lynx Investment Advisory bought a new stake in shares of PPL during the 2nd quarter worth approximately $38,000. Institutional investors own 76.99% of the company’s stock.

PPL Stock Performance

NYSE:PPL opened at $34.45 on Friday. The stock has a 50 day simple moving average of $32.75 and a 200 day simple moving average of $30.65. The stock has a market cap of $25.42 billion, a P/E ratio of 30.76, a PEG ratio of 3.00 and a beta of 0.81. PPL Co. has a 1-year low of $25.35 and a 1-year high of $35.00. The company has a current ratio of 1.29, a quick ratio of 1.07 and a debt-to-equity ratio of 1.17.

PPL (NYSE:PPL) last posted its earnings results on Friday, November 1st. The utilities provider reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter last year, the firm earned $0.43 earnings per share. The company’s revenue was up 1.1% on a year-over-year basis. Research analysts anticipate that PPL Co. will post 1.72 earnings per share for the current year.

PPL Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.2575 per share. The ex-dividend date is Tuesday, December 10th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.99%. PPL’s payout ratio is presently 91.97%.

Analyst Upgrades and Downgrades

PPL has been the subject of several analyst reports. Bank of America raised their target price on shares of PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Morgan Stanley boosted their price objective on shares of PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Barclays raised their target price on shares of PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. began coverage on PPL in a research report on Friday, October 25th. They set an “overweight” rating and a $37.00 price target on the stock. Finally, Wells Fargo & Company raised their price objective on PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.