Global X Management Co LLC lifted its holdings in shares of PPL Corp (NYSE:PPL) by 0.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 278,966 shares of the utilities provider’s stock after buying an additional 2,457 shares during the period. Global X Management Co LLC’s holdings in PPL were worth $7,964,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. FMR LLC grew its position in PPL by 89.2% during the 2nd quarter. FMR LLC now owns 47,276,571 shares of the utilities provider’s stock worth $1,349,747,000 after acquiring an additional 22,285,268 shares during the last quarter. BlackRock Inc. grew its position in shares of PPL by 17.2% in the 1st quarter. BlackRock Inc. now owns 60,971,163 shares of the utilities provider’s stock valued at $1,724,873,000 after buying an additional 8,934,723 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of PPL by 69.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 10,928,783 shares of the utilities provider’s stock valued at $312,017,000 after buying an additional 4,489,564 shares during the last quarter. Luminus Management LLC grew its position in shares of PPL by 180.4% in the 2nd quarter. Luminus Management LLC now owns 6,189,367 shares of the utilities provider’s stock valued at $176,707,000 after buying an additional 3,981,732 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of PPL by 22.8% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 18,240,865 shares of the utilities provider’s stock valued at $520,777,000 after buying an additional 3,388,148 shares during the last quarter. 80.17% of the stock is owned by institutional investors.
A number of equities research analysts have commented on the company. Zacks Investment Research lowered PPL from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine upgraded PPL from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 6th. Wells Fargo & Co upped their price target on PPL from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Monday, September 17th. Morgan Stanley upped their target price on PPL from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Tuesday, September 11th. Finally, TheStreet upgraded PPL from a “c+” rating to a “b-” rating in a research report on Tuesday, August 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. PPL currently has a consensus rating of “Hold” and a consensus target price of $34.18.
PPL stock traded up $0.28 during trading on Friday, reaching $30.25. 6,218,569 shares of the stock were exchanged, compared to its average volume of 6,296,189. PPL Corp has a twelve month low of $25.30 and a twelve month high of $38.55. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.52 and a current ratio of 0.58. The company has a market cap of $20.47 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 2.50 and a beta of 0.51.
PPL (NYSE:PPL) last posted its quarterly earnings results on Tuesday, August 7th. The utilities provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.75 billion. PPL had a return on equity of 15.30% and a net margin of 18.08%. Equities analysts predict that PPL Corp will post 2.34 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 10th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 5.42%. The ex-dividend date was Friday, September 7th. PPL’s dividend payout ratio (DPR) is presently 72.89%.
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 in three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves 411,000 electric and 326,000 natural gas customers in Louisville and adjacent areas in Kentucky; 525,000 customers in central, southeastern, and western Kentucky; and approximately 28,000 customers in 5 counties in southwestern Virginia, and 3 customers in Tennessee.
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