Global X Management Co LLC Increases Holdings in PPL Corp (NYSE:PPL)

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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 hedge funds have also recently modified their holdings of the company. Renaissance Technologies LLC grew its position in shares of PPL by 732.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,497,500 shares of the utilities provider’s stock valued at $42,754,000 after buying an additional 1,317,600 shares during the last quarter. Baird Financial Group Inc. grew its position in shares of PPL by 2.7% in the 2nd quarter. Baird Financial Group Inc. now owns 143,596 shares of the utilities provider’s stock valued at $4,100,000 after buying an additional 3,722 shares during the last quarter. First Command Financial Services Inc. grew its position in shares of PPL by 103.9% in the 2nd quarter. First Command Financial Services Inc. now owns 6,816 shares of the utilities provider’s stock valued at $194,000 after buying an additional 3,474 shares during the last quarter. Redpoint Investment Management Pty Ltd grew its position in shares of PPL by 8.6% in the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 117,604 shares of the utilities provider’s stock valued at $3,358,000 after buying an additional 9,319 shares during the last quarter. Finally, Chartwell Investment Partners LLC grew its position in shares of PPL by 45.9% in the 2nd quarter. Chartwell Investment Partners LLC now owns 299,806 shares of the utilities provider’s stock valued at $8,559,000 after buying an additional 94,345 shares during the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

Several equities research analysts recently 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 target price 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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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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