Mainstay Capital Management LLC ADV Takes Position in PPL Corp (NYSE:PPL)

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Mainstay Capital Management LLC ADV purchased a new stake in shares of PPL Corp (NYSE:PPL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 50,547 shares of the utilities provider’s stock, valued at approximately $1,814,000.

Several other hedge funds have also recently modified their holdings of PPL. Tiedemann Advisors LLC grew its holdings in shares of PPL by 13.1% in the 3rd quarter. Tiedemann Advisors LLC now owns 228,687 shares of the utilities provider’s stock worth $7,288,000 after acquiring an additional 26,548 shares during the last quarter. Nomura Holdings Inc. grew its holdings in shares of PPL by 1,052.9% in the 3rd quarter. Nomura Holdings Inc. now owns 137,479 shares of the utilities provider’s stock worth $4,304,000 after acquiring an additional 125,554 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in shares of PPL by 5.3% in the 3rd quarter. EP Wealth Advisors LLC now owns 23,276 shares of the utilities provider’s stock worth $733,000 after acquiring an additional 1,177 shares during the last quarter. Stephens Inc. AR grew its holdings in shares of PPL by 4.8% during the third quarter. Stephens Inc. AR now owns 175,409 shares of the utilities provider’s stock valued at $5,524,000 after buying an additional 8,102 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its holdings in shares of PPL by 1.2% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 842,456 shares of the utilities provider’s stock valued at $26,126,000 after buying an additional 9,902 shares in the last quarter. Institutional investors own 70.66% of the company’s stock.

NYSE:PPL opened at $36.09 on Tuesday. The stock’s fifty day moving average price is $35.33 and its two-hundred day moving average price is $32.29. PPL Corp has a 52-week low of $28.55 and a 52-week high of $36.28. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.58 and a current ratio of 0.66. The company has a market cap of $26.09 billion, a price-to-earnings ratio of 14.67 and a beta of 0.51.

PPL (NYSE:PPL) last posted its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.01). The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $2.04 billion. PPL had a net margin of 23.17% and a return on equity of 14.73%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.59 EPS. On average, equities analysts predict that PPL Corp will post 2.42 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th were paid a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend was Monday, December 9th. PPL’s dividend payout ratio (DPR) is currently 68.75%.

In related news, CEO William H. Spence sold 388,968 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $34.32, for a total value of $13,349,381.76. Also, COO Vincent Sorgi sold 13,696 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.04, for a total transaction of $466,211.84. Following the completion of the sale, the chief operating officer now owns 30,976 shares of the company’s stock, valued at approximately $1,054,423.04. The disclosure for this sale can be found here. In the last three months, insiders sold 790,664 shares of company stock worth $26,840,754. 0.34% of the stock is currently owned by company insiders.

A number of analysts recently issued reports on the company. Guggenheim raised PPL from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 7th. Wells Fargo & Co began coverage on PPL in a research report on Thursday, December 19th. They issued an “equal weight” rating and a $50.00 price target for the company. ValuEngine cut PPL from a “hold” rating to a “sell” rating in a research report on Thursday, December 19th. Argus reaffirmed a “buy” rating and issued a $39.00 price target (up previously from $34.00) on shares of PPL in a research report on Friday, January 10th. Finally, UBS Group boosted their price target on PPL from $49.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $39.05.

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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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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