Alpha Paradigm Partners LLC Buys New Shares in PPL Co. (NYSE:PPL)

Alpha Paradigm Partners LLC bought a new stake in shares of PPL Co. (NYSE:PPL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,854 shares of the utilities provider’s stock, valued at approximately $304,000.

A number of other hedge funds have also added to or reduced their stakes in PPL. FMR LLC lifted its stake in PPL by 21.5% during the second quarter. FMR LLC now owns 26,656,680 shares of the utilities provider’s stock valued at $745,587,000 after purchasing an additional 4,713,861 shares during the last quarter. Cohen & Steers Inc. acquired a new stake in PPL during the first quarter valued at approximately $57,572,000. Renaissance Technologies LLC acquired a new stake in PPL during the first quarter valued at approximately $57,201,000. JPMorgan Chase & Co. lifted its stake in PPL by 54.4% during the first quarter. JPMorgan Chase & Co. now owns 3,602,370 shares of the utilities provider’s stock valued at $103,893,000 after purchasing an additional 1,269,491 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its position in shares of PPL by 1,332.1% in the 1st quarter. Voloridge Investment Management LLC now owns 1,120,199 shares of the utilities provider’s stock valued at $32,307,000 after acquiring an additional 1,041,977 shares in the last quarter. 64.31% of the stock is owned by institutional investors and hedge funds.

Shares of PPL opened at $28.48 on Thursday. The company’s fifty day moving average is $29.04 and its 200-day moving average is $28.84. PPL Co. has a 12 month low of $26.15 and a 12 month high of $30.81. The firm has a market cap of $21.92 billion, a price-to-earnings ratio of -17.69 and a beta of 0.74. The company has a quick ratio of 2.10, a current ratio of 2.16 and a debt-to-equity ratio of 0.74.

PPL (NYSE:PPL) last posted its quarterly earnings data on Thursday, August 5th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.09). The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.42 billion. PPL had a positive return on equity of 9.50% and a negative net margin of 18.94%. PPL’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 earnings per share. As a group, research analysts predict that PPL Co. will post 1.41 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 1st. Investors of record on Friday, September 10th were issued a dividend of $0.415 per share. This represents a $1.66 annualized dividend and a dividend yield of 5.83%. The ex-dividend date of this dividend was Thursday, September 9th. PPL’s dividend payout ratio is currently 69.17%.

PPL has been the subject of several research analyst reports. Citigroup upped their price target on shares of PPL from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday, September 10th. Zacks Investment Research upgraded shares of PPL from a “strong sell” rating to a “hold” rating and set a $30.00 price objective on the stock in a research note on Wednesday, July 7th. CIBC upgraded shares of PPL to an “outperformer” rating and upped their price objective for the company from $39.00 to $47.00 in a research note on Friday, June 18th. Mizuho dropped their price objective on shares of PPL from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 7th. Finally, Morgan Stanley dropped their price objective on shares of PPL from $34.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Friday, September 17th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PPL has an average rating of “Hold” and an average target price of $35.58.

PPL Company Profile

PPL Corp. engages in the generation, transmission and distribution of electricity. It operates through the following segments: U.K. Regulated, Kentucky Regulated and Pennsylvania Regulated. The U.K. Regulated segment includes regulated electricity distribution operations of Western Power Distribution.

Further Reading: Earnings Reports

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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