O Shares Investment Advisers LLC lifted its holdings in PPL Corp (NYSE:PPL) by 6.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,592 shares of the utilities provider’s stock after purchasing an additional 1,904 shares during the quarter. O Shares Investment Advisers LLC’s holdings in PPL were worth $1,011,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. TRUE Private Wealth Advisors bought a new position in shares of PPL in the second quarter worth $25,000. Thor Advisors LLC bought a new position in shares of PPL in the first quarter worth $35,000. Kavar Capital Partners LLC bought a new position in shares of PPL in the second quarter worth $35,000. Manchester Financial Inc. bought a new position in shares of PPL in the second quarter worth $38,000. Finally, Resources Investment Advisors Inc. boosted its stake in PPL by 129.8% during the first quarter. Resources Investment Advisors Inc. now owns 1,241 shares of the utilities provider’s stock valued at $39,000 after buying an additional 701 shares in the last quarter. 71.77% of the stock is owned by institutional investors.
PPL has been the subject of several research reports. GMP Securities reaffirmed an “average” rating and set a $59.00 target price on shares of PPL in a research note on Wednesday, August 7th. Mizuho initiated coverage on PPL in a research note on Monday, June 3rd. They set a “neutral” rating and a $30.00 target price for the company. Evercore ISI set a $31.00 target price on PPL and gave the company a “hold” rating in a research note on Wednesday, August 7th. Zacks Investment Research raised PPL from a “sell” rating to a “hold” rating and set a $32.00 target price for the company in a research note on Monday, July 22nd. Finally, Morgan Stanley set a $30.00 target price on PPL and gave the company a “hold” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $36.27.
Shares of NYSE PPL traded up $0.30 during mid-day trading on Monday, hitting $31.18. 2,114,455 shares of the company traded hands, compared to its average volume of 3,781,811. PPL Corp has a 1 year low of $27.31 and a 1 year high of $32.88. The stock has a market capitalization of $22.30 billion, a price-to-earnings ratio of 12.99 and a beta of 0.50. The company has a quick ratio of 0.48, a current ratio of 0.55 and a debt-to-equity ratio of 1.75. The business has a 50 day moving average of $29.65 and a two-hundred day moving average of $30.82.
PPL (NYSE:PPL) last announced its earnings results on Tuesday, August 6th. The utilities provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.56 by $0.02. PPL had a return on equity of 14.57% and a net margin of 22.97%. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the business posted $0.55 earnings per share. PPL’s revenue was down 2.4% compared to the same quarter last year. As a group, research analysts anticipate that PPL Corp will post 2.43 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a dividend yield of 5.29%. The ex-dividend date is Monday, September 9th. PPL’s dividend payout ratio is 68.75%.
In related news, insider Philip Swift sold 3,782 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $30.26, for a total value of $114,443.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is currently owned by corporate insiders.
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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