AMP Capital Investors Ltd increased its position in PPL Corp (NYSE:PPL) by 21.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 297,520 shares of the utilities provider’s stock after buying an additional 53,086 shares during the quarter. AMP Capital Investors Ltd’s holdings in PPL were worth $8,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently added to or reduced their stakes in PPL. Victory Capital Management Inc. increased its stake in shares of PPL by 27.9% in the first quarter. Victory Capital Management Inc. now owns 675,444 shares of the utilities provider’s stock valued at $19,108,000 after buying an additional 147,467 shares during the period. D.A. Davidson & CO. increased its position in PPL by 37.0% during the 1st quarter. D.A. Davidson & CO. now owns 12,691 shares of the utilities provider’s stock valued at $359,000 after purchasing an additional 3,430 shares during the period. LSV Asset Management acquired a new stake in PPL during the 1st quarter valued at approximately $6,114,000. Schwab Charles Investment Management Inc. increased its position in PPL by 6.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 2,652,932 shares of the utilities provider’s stock valued at $75,052,000 after purchasing an additional 171,741 shares during the period. Finally, American International Group Inc. increased its position in PPL by 1.0% during the 1st quarter. American International Group Inc. now owns 396,591 shares of the utilities provider’s stock valued at $11,220,000 after purchasing an additional 4,040 shares during the period. 80.18% of the stock is owned by institutional investors.
A number of analysts have weighed in on PPL shares. Zacks Investment Research downgraded shares of PPL from a “hold” rating to a “sell” rating in a research report on Tuesday, June 5th. Morgan Stanley decreased their target price on shares of PPL from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 13th. UBS Group decreased their target price on shares of PPL from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, June 8th. Deutsche Bank downgraded shares of PPL from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Finally, ValuEngine downgraded shares of PPL from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 17th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $34.30.
Shares of PPL stock opened at $30.27 on Friday. The company has a market cap of $21.11 billion, a PE ratio of 13.45, a P/E/G ratio of 2.58 and a beta of 0.50. PPL Corp has a 52 week low of $25.30 and a 52 week high of $39.41. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.58 and a quick ratio of 0.52.
PPL (NYSE:PPL) last announced its quarterly earnings data on Tuesday, August 7th. The utilities provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.75 billion. PPL had a net margin of 18.08% and a return on equity of 15.30%. sell-side analysts expect that PPL Corp will post 2.34 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Monday, September 10th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 5.42%. The ex-dividend date of this dividend is Friday, September 7th. PPL’s dividend payout ratio (DPR) is 72.89%.
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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