AMP Capital Investors Ltd lessened its stake in PPL Corp (NYSE:PPL) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 318,673 shares of the utilities provider’s stock after selling 2,737 shares during the quarter. AMP Capital Investors Ltd’s holdings in PPL were worth $9,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Holocene Advisors LP raised its holdings in shares of PPL by 56.2% during the 2nd quarter. Holocene Advisors LP now owns 75,376 shares of the utilities provider’s stock worth $2,337,000 after acquiring an additional 27,116 shares in the last quarter. National Pension Service increased its position in shares of PPL by 30.3% during the 2nd quarter. National Pension Service now owns 1,025,581 shares of the utilities provider’s stock valued at $31,803,000 after purchasing an additional 238,217 shares during the last quarter. Lido Advisors LLC increased its position in shares of PPL by 2.5% during the 2nd quarter. Lido Advisors LLC now owns 43,069 shares of the utilities provider’s stock valued at $1,353,000 after purchasing an additional 1,054 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of PPL by 4.4% during the 2nd quarter. Asset Management One Co. Ltd. now owns 628,199 shares of the utilities provider’s stock valued at $19,481,000 after purchasing an additional 26,434 shares during the last quarter. Finally, Evercore Wealth Management LLC increased its position in shares of PPL by 64.9% during the 2nd quarter. Evercore Wealth Management LLC now owns 26,933 shares of the utilities provider’s stock valued at $835,000 after purchasing an additional 10,600 shares during the last quarter. Institutional investors own 71.76% of the company’s stock.
Several equities analysts have commented on the company. Evercore ISI set a $31.00 price objective on PPL and gave the company a “hold” rating in a research report on Wednesday, August 7th. ValuEngine downgraded PPL from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. GMP Securities restated an “average” rating and set a $59.00 price objective on shares of PPL in a research note on Wednesday, August 7th. Bank of America upgraded PPL from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley set a $30.00 target price on PPL and gave the stock a “hold” rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $36.60.
Shares of PPL stock traded up $0.87 on Friday, hitting $31.43. The stock had a trading volume of 7,015,386 shares, compared to its average volume of 4,469,353. The company’s 50 day moving average price is $30.51 and its 200 day moving average price is $30.67. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 1.75. The stock has a market cap of $21.89 billion, a price-to-earnings ratio of 13.10 and a beta of 0.50. PPL Corp has a 52-week low of $27.31 and a 52-week high of $32.88.
PPL (NYSE:PPL) last released its earnings results on Tuesday, August 6th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.02. PPL had a return on equity of 14.57% and a net margin of 22.97%. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the firm posted $0.55 EPS. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. Analysts predict that PPL Corp will post 2.42 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were issued a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date of this dividend was Monday, September 9th. PPL’s dividend payout ratio is currently 68.75%.
In related news, insider Philip Swift sold 3,782 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $30.26, for a total value of $114,443.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.34% of the company’s stock.
PPL Company Profile
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 414,000 electric and 328,000 natural gas customers in Louisville and adjacent areas in Kentucky; 527,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.
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