AE Wealth Management LLC lowered its holdings in shares of PPL Corp (NYSE:PPL) by 42.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,475 shares of the utilities provider’s stock after selling 26,409 shares during the quarter. AE Wealth Management LLC’s holdings in PPL were worth $1,041,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of PPL. FMR LLC boosted its holdings in PPL by 89.2% during the 2nd quarter. FMR LLC now owns 47,276,571 shares of the utilities provider’s stock valued at $1,349,747,000 after acquiring an additional 22,285,268 shares during the period. BlackRock Inc. boosted its holdings in PPL by 17.2% during the 1st quarter. BlackRock Inc. now owns 60,971,163 shares of the utilities provider’s stock valued at $1,724,873,000 after acquiring an additional 8,934,723 shares during the period. Bank of New York Mellon Corp boosted its holdings in PPL by 69.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,928,783 shares of the utilities provider’s stock valued at $312,017,000 after acquiring an additional 4,489,564 shares during the period. Luminus Management LLC boosted its holdings in PPL by 180.4% during the 2nd quarter. Luminus Management LLC now owns 6,189,367 shares of the utilities provider’s stock valued at $176,707,000 after acquiring an additional 3,981,732 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in PPL by 22.8% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 18,240,865 shares of the utilities provider’s stock valued at $520,777,000 after acquiring an additional 3,388,148 shares during the period. Institutional investors own 80.18% of the company’s stock.
A number of research firms recently issued reports on PPL. Morgan Stanley boosted their price objective on PPL from $29.00 to $30.00 and gave the company a “hold” rating in a report on Tuesday. TheStreet upgraded PPL from a “c+” rating to a “b-” rating in a report on Tuesday, August 28th. Zacks Investment Research upgraded PPL from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Citigroup began coverage on PPL in a report on Thursday, August 23rd. They set a “neutral” rating and a $30.00 price objective for the company. Finally, UBS Group dropped their price objective on PPL from $37.00 to $34.00 and set a “buy” rating for the company in a report on Friday, June 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $34.30.
Shares of NYSE PPL opened at $30.27 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.58 and a quick ratio of 0.52. The firm has a market cap of $21.11 billion, a P/E ratio of 13.45, a P/E/G ratio of 2.58 and a beta of 0.50. PPL Corp has a 1-year low of $25.30 and a 1-year high of $39.41.
PPL (NYSE:PPL) last issued its quarterly earnings data 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 firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.75 billion. PPL had a return on equity of 15.30% and a net margin of 18.08%. equities analysts forecast that PPL Corp will post 2.34 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors 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 yield of 5.42%. The ex-dividend date is Friday, September 7th. PPL’s dividend payout ratio is currently 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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