Elkhorn Investments LLC lowered its holdings in PPL Corp (NYSE:PPL) by 14.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,555 shares of the utilities provider’s stock after selling 5,073 shares during the period. Elkhorn Investments LLC’s holdings in PPL were worth $1,146,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Cutler Capital Management LLC purchased a new position in PPL in the third quarter valued at about $114,000. Taylor Hoffman Wealth Management purchased a new position in PPL in the fourth quarter valued at about $124,000. Cerebellum GP LLC purchased a new position in PPL in the fourth quarter valued at about $128,000. Crewe Advisors LLC purchased a new position in PPL in the fourth quarter valued at about $133,000. Finally, Calton & Associates Inc. purchased a new position in PPL in the fourth quarter valued at about $156,000. 71.50% of the stock is owned by hedge funds and other institutional investors.
Shares of PPL Corp (NYSE:PPL) traded up $0.39 during trading on Wednesday, hitting $28.15. The stock had a trading volume of 363,773 shares, compared to its average volume of 6,620,906. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.57 and a quick ratio of 0.49. The firm has a market cap of $19,357.05, a PE ratio of 16.93, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. PPL Corp has a fifty-two week low of $27.12 and a fifty-two week high of $40.20.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.83%. This is a boost from PPL’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, March 8th. PPL’s dividend payout ratio is presently 100.00%.
Several analysts have issued reports on the company. Royal Bank of Canada upgraded PPL from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $28.32 to $33.00 in a research note on Tuesday, March 6th. ValuEngine upgraded PPL from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. SunTrust Banks set a $36.00 price objective on PPL and gave the company a “buy” rating in a research note on Friday, February 23rd. UBS Group assumed coverage on PPL in a research note on Friday, February 2nd. They set a “buy” rating and a $40.00 price objective on the stock. Finally, Canaccord Genuity restated a “buy” rating and set a $48.00 price objective on shares of PPL in a research note on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $37.50.
In other news, insider Gregory N. Dudkin sold 9,320 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $31.67, for a total transaction of $295,164.40. Following the sale, the insider now directly owns 25,940 shares in the company, valued at approximately $821,519.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Victor A. Staffieri sold 19,524 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $31.60, for a total value of $616,958.40. Following the sale, the chairman now owns 29,084 shares in the company, valued at $919,054.40. The disclosure for this sale can be found here. Insiders have sold a total of 52,978 shares of company stock worth $1,652,939 over the last quarter. Insiders own 0.40% of the company’s stock.
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.
Want to see what other hedge funds are holding PPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPL Corp (NYSE:PPL).
Receive News & Ratings for PPL Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPL and related companies with MarketBeat.com's FREE daily email newsletter.