RMR Wealth Builders purchased a new stake in PPL Corp (NYSE:PPL) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,575 shares of the utilities provider’s stock, valued at approximately $93,000.
Other institutional investors have also made changes to their positions in the company. Public Employees Retirement Association of Colorado increased its position in shares of PPL by 5.1% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 134,186 shares of the utilities provider’s stock worth $3,312,000 after purchasing an additional 6,500 shares during the last quarter. Truvestments Capital LLC acquired a new stake in shares of PPL during the first quarter valued at about $36,000. Oppenheimer & Co. Inc. raised its stake in shares of PPL by 21.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 110,556 shares of the utilities provider’s stock valued at $2,728,000 after acquiring an additional 19,174 shares during the period. Mackay Shields LLC lifted its holdings in shares of PPL by 36.9% in the 1st quarter. Mackay Shields LLC now owns 499,318 shares of the utilities provider’s stock worth $12,323,000 after acquiring an additional 134,479 shares during the last quarter. Finally, Cetera Advisors LLC lifted its holdings in shares of PPL by 14.7% in the 1st quarter. Cetera Advisors LLC now owns 9,074 shares of the utilities provider’s stock worth $224,000 after acquiring an additional 1,163 shares during the last quarter. 66.64% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on PPL. Citigroup boosted their target price on PPL from $25.00 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. UBS Group boosted their price objective on PPL from $30.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Mizuho cut PPL from a “buy” rating to a “neutral” rating and raised their target price for the company from $28.50 to $29.50 in a report on Wednesday, August 19th. Morgan Stanley lifted their target price on PPL from $29.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, August 14th. Finally, Bank of America increased their price target on shares of PPL from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, June 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $35.69.
PPL stock traded up $0.38 during trading on Wednesday, reaching $28.10. The stock had a trading volume of 64,046 shares, compared to its average volume of 5,781,338. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 1.62. PPL Corp has a 52-week low of $18.12 and a 52-week high of $36.83. The stock has a market cap of $21.31 billion, a PE ratio of 12.22 and a beta of 0.74. The business has a 50 day moving average price of $27.69 and a 200 day moving average price of $26.53.
PPL (NYSE:PPL) last announced its quarterly earnings data on Monday, August 10th. The utilities provider reported $0.55 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.55. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.89 billion. PPL had a net margin of 24.52% and a return on equity of 14.20%. The company’s revenue was down 3.5% on a year-over-year basis. During the same period last year, the business earned $0.58 EPS. On average, equities analysts predict that PPL Corp will post 2.41 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be issued a dividend of $0.415 per share. This represents a $1.66 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date of this dividend is Wednesday, September 9th. PPL’s dividend payout ratio (DPR) is 67.76%.
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.
Further Reading: Buy-Side Analysts
Want to see what other hedge funds are holding PPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPL Corp (NYSE:PPL).
Receive News & Ratings for PPL Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPL and related companies with MarketBeat.com's FREE daily email newsletter.