Legal & General Group Plc boosted its position in shares of PPL Corp (NYSE:PPL) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,306,007 shares of the utilities provider’s stock after acquiring an additional 278,805 shares during the quarter. Legal & General Group Plc owned 1.21% of PPL worth $229,856,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of PPL. Connor Clark & Lunn Investment Management Ltd. purchased a new position in PPL in the fourth quarter worth about $202,000. Orion Portfolio Solutions LLC bought a new position in shares of PPL in the 4th quarter worth approximately $26,000. Fieldpoint Private Securities LLC boosted its holdings in shares of PPL by 420.9% in the fourth quarter. Fieldpoint Private Securities LLC now owns 1,547 shares of the utilities provider’s stock worth $56,000 after buying an additional 1,250 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in PPL by 7.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 279,223 shares of the utilities provider’s stock valued at $6,891,000 after buying an additional 18,212 shares during the period. Finally, Bank OZK bought a new position in PPL in the fourth quarter worth approximately $309,000. 66.67% of the stock is currently owned by institutional investors.
PPL has been the subject of several analyst reports. Seaport Global Securities lowered PPL from a “neutral” rating to a “sell” rating and set a $26.50 price objective for the company. in a research note on Tuesday. Wells Fargo & Co cut PPL from an “overweight” rating to an “equal weight” rating in a research report on Friday, May 8th. Cfra lowered their price objective on PPL from $55.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Evercore ISI assumed coverage on shares of PPL in a report on Wednesday, February 19th. They issued a “hold” rating and a $36.50 target price for the company. Finally, Barclays cut shares of PPL from an “overweight” rating to an “equal weight” rating in a research note on Monday, May 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $37.53.
PPL stock traded down $1.89 during mid-day trading on Thursday, hitting $25.97. The company had a trading volume of 296,768 shares, compared to its average volume of 6,113,548. The company has a 50-day moving average price of $26.32 and a 200 day moving average price of $30.70. PPL Corp has a 12-month low of $18.12 and a 12-month high of $36.83. The company has a market capitalization of $20.16 billion, a price-to-earnings ratio of 10.70 and a beta of 0.76. The company has a quick ratio of 0.50, a current ratio of 0.56 and a debt-to-equity ratio of 1.56.
PPL (NYSE:PPL) last released its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.05). The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.18 billion. PPL had a net margin of 23.68% and a return on equity of 14.46%. PPL’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.70 EPS. As a group, analysts expect that PPL Corp will post 2.42 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.415 per share. The ex-dividend date is Tuesday, June 9th. This represents a $1.66 annualized dividend and a yield of 6.39%. PPL’s payout ratio is currently 67.76%.
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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