Commerce Bank Has $1.33 Million Holdings in PPL Corp (PPL)

Commerce Bank decreased its position in shares of PPL Corp (NYSE:PPL) by 44.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,534 shares of the utilities provider’s stock after selling 35,872 shares during the quarter. Commerce Bank’s holdings in PPL were worth $1,332,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC raised 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 worth $1,349,747,000 after purchasing an additional 22,285,268 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of 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 worth $520,777,000 after buying an additional 3,388,148 shares during the period. Federated Investors Inc. PA grew its position in shares of PPL by 0.7% during the 2nd quarter. Federated Investors Inc. PA now owns 14,672,337 shares of the utilities provider’s stock worth $418,896,000 after buying an additional 102,265 shares during the period. Bank of New York Mellon Corp grew its position in shares of 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 worth $312,017,000 after buying an additional 4,489,564 shares during the period. Finally, Northern Trust Corp grew its position in shares of PPL by 1.2% during the 2nd quarter. Northern Trust Corp now owns 7,776,543 shares of the utilities provider’s stock worth $222,020,000 after buying an additional 89,362 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Shares of PPL stock opened at $31.69 on Friday. The company has a market cap of $22.33 billion, a PE ratio of 14.08, a P/E/G ratio of 2.63 and a beta of 0.40. PPL Corp has a 52 week low of $25.30 and a 52 week high of $37.34. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.58 and a quick ratio of 0.51.

PPL (NYSE:PPL) last posted its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. PPL had a net margin of 19.17% and a return on equity of 15.23%. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the firm posted $0.56 EPS. PPL’s revenue was up 1.5% compared to the same quarter last year. On average, sell-side analysts expect that PPL Corp will post 2.35 earnings per share for the current fiscal year.

PPL has been the subject of several recent analyst reports. Zacks Investment Research raised shares of PPL from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Wednesday, September 12th. ValuEngine raised shares of PPL from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 6th. TheStreet raised shares of PPL from a “c+” rating to a “b-” rating in a research report on Tuesday, August 28th. Deutsche Bank downgraded shares of PPL from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Finally, Wells Fargo & Co raised their price objective on shares of PPL from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Monday, September 17th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $34.18.

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About PPL

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.

Read More: Compound Annual Growth Rate (CAGR)

Institutional Ownership by Quarter for PPL (NYSE:PPL)

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