Farmers National Bank bought a new position in PPL Corp (NYSE:PPL) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 27,854 shares of the utilities provider’s stock, valued at approximately $884,000.
Several other hedge funds also recently bought and sold shares of PPL. Norges Bank bought a new position in shares of PPL in the fourth quarter worth about $152,444,000. BlackRock Inc. raised its holdings in PPL by 5.9% in the 4th quarter. BlackRock Inc. now owns 62,237,939 shares of the utilities provider’s stock valued at $1,763,201,000 after buying an additional 3,475,992 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in PPL by 2,749.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,161,551 shares of the utilities provider’s stock valued at $76,000 after buying an additional 2,085,687 shares during the last quarter. Morgan Stanley raised its holdings in PPL by 96.7% in the 3rd quarter. Morgan Stanley now owns 4,130,706 shares of the utilities provider’s stock valued at $120,864,000 after buying an additional 2,030,363 shares during the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd bought a new position in PPL in the 4th quarter valued at approximately $43,537,000. 74.95% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on PPL. SunTrust Banks reiterated a “buy” rating and issued a $35.00 price objective on shares of PPL in a report on Wednesday, February 13th. Evercore ISI lowered shares of PPL from an “outperform” rating to an “in-line” rating in a report on Thursday, February 7th. Zacks Investment Research lowered shares of PPL from a “hold” rating to a “sell” rating in a report on Tuesday. Royal Bank of Canada lowered shares of PPL from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $32.00 to $33.00 in a report on Friday, March 8th. They noted that the move was a valuation call. Finally, Raymond James restated an “average” rating on shares of PPL in a report on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $34.33.
In other news, Chairman William H. Spence sold 225,365 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $32.50, for a total transaction of $7,324,362.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.34% of the company’s stock.
PPL stock opened at $31.09 on Thursday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.60 and a quick ratio of 0.53. PPL Corp has a 52-week low of $25.30 and a 52-week high of $32.88. The company has a market cap of $22.63 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.59 and a beta of 0.52.
PPL (NYSE:PPL) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.03). The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.19 billion. PPL had a return on equity of 14.52% and a net margin of 23.79%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. Analysts forecast that PPL Corp will post 2.42 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 10th will be given a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a dividend yield of 5.31%. The ex-dividend date of this dividend is Friday, June 7th. PPL’s dividend payout ratio (DPR) is 68.75%.
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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