Raymond James & Associates lifted its holdings in PPL Corp (NYSE:PPL) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,408,769 shares of the utilities provider’s stock after buying an additional 332,205 shares during the period. Raymond James & Associates owned about 0.50% of PPL worth $105,501,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of PPL by 37.9% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,865,118 shares of the utilities provider’s stock worth $429,125,000 after buying an additional 3,808,000 shares during the period. Wells Fargo & Company MN boosted its position in shares of PPL by 4.8% in the fourth quarter. Wells Fargo & Company MN now owns 8,546,957 shares of the utilities provider’s stock worth $264,528,000 after buying an additional 389,800 shares during the period. Geode Capital Management LLC boosted its position in shares of PPL by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 8,349,801 shares of the utilities provider’s stock worth $257,959,000 after buying an additional 360,229 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of PPL by 7.9% during the fourth quarter. Bank of New York Mellon Corp now owns 6,739,037 shares of the utilities provider’s stock worth $208,573,000 after acquiring an additional 492,590 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of PPL by 16.5% during the third quarter. Prudential Financial Inc. now owns 5,030,604 shares of the utilities provider’s stock worth $190,912,000 after acquiring an additional 714,250 shares in the last quarter. 71.50% of the stock is owned by institutional investors and hedge funds.
In other PPL news, Chairman Victor A. Staffieri sold 19,524 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $31.60, for a total transaction of $616,958.40. Following the transaction, the chairman now directly owns 29,084 shares in the company, valued at $919,054.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Gregory N. Dudkin sold 9,320 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $31.67, for a total value of $295,164.40. Following the transaction, the insider now owns 25,940 shares in the company, valued at $821,519.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,978 shares of company stock worth $1,652,939. Corporate insiders own 0.40% of the company’s stock.
PPL (NYSE:PPL) last posted its earnings results on Thursday, February 22nd. The utilities provider reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.07. PPL had a return on equity of 14.75% and a net margin of 15.15%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company earned $0.60 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. equities research analysts anticipate that PPL Corp will post 2.32 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be issued a dividend of $0.41 per share. This is a positive change from PPL’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 5.89%. The ex-dividend date of this dividend is Thursday, March 8th. PPL’s dividend payout ratio (DPR) is 77.73%.
Several analysts recently issued reports on the company. Royal Bank of Canada upgraded PPL from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $28.32 to $33.00 in a report on Tuesday, March 6th. SunTrust Banks set a $36.00 price objective on PPL and gave the stock a “buy” rating in a report on Friday, February 23rd. UBS Group reiterated a “buy” rating and set a $36.00 price objective (down from $37.00) on shares of PPL in a report on Friday, February 23rd. ValuEngine lowered PPL from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, TheStreet lowered PPL from a “b-” rating to a “c+” rating in a report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. PPL currently has a consensus rating of “Hold” and an average target price of $37.50.
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PPL Company Profile
PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. PPL operates through U.K.
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