TD Asset Management Inc. trimmed its holdings in shares of PPL Corp (NYSE:PPL) by 5.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,003,075 shares of the utilities provider’s stock after selling 60,456 shares during the period. TD Asset Management Inc. owned about 0.14% of PPL worth $29,350,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. IFM Investors Pty Ltd raised its stake in shares of PPL by 46.6% during the second quarter. IFM Investors Pty Ltd now owns 30,610 shares of the utilities provider’s stock valued at $874,000 after acquiring an additional 9,724 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of PPL by 36.4% during the second quarter. State of Alaska Department of Revenue now owns 138,462 shares of the utilities provider’s stock valued at $3,952,000 after acquiring an additional 36,940 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of PPL by 5.4% during the second quarter. Raymond James Trust N.A. now owns 60,702 shares of the utilities provider’s stock valued at $1,733,000 after acquiring an additional 3,083 shares during the last quarter. FormulaFolio Investments LLC raised its stake in shares of PPL by 40.5% during the second quarter. FormulaFolio Investments LLC now owns 11,180 shares of the utilities provider’s stock valued at $319,000 after acquiring an additional 3,225 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of PPL by 4.1% during the second quarter. Bank of Montreal Can now owns 2,510,736 shares of the utilities provider’s stock valued at $71,681,000 after acquiring an additional 99,005 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.
Several equities analysts have recently commented on PPL shares. Deutsche Bank downgraded shares of PPL from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Wells Fargo & Co upped their price objective on shares of PPL from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Monday, September 17th. ValuEngine raised shares of PPL from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 6th. Citigroup started coverage on shares of PPL in a research note on Thursday, August 23rd. They set a “neutral” rating and a $30.00 price objective for the company. Finally, Morgan Stanley upped their price objective on shares of PPL from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Monday, July 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $34.18.
PPL stock opened at $31.69 on Friday. PPL Corp has a 1 year low of $25.30 and a 1 year high of $37.34. The stock has a market capitalization of $22.59 billion, a P/E ratio of 12.90, a P/E/G ratio of 2.66 and a beta of 0.40. The company has a quick ratio of 0.51, a current ratio of 0.58 and a debt-to-equity ratio of 1.69.
PPL (NYSE:PPL) last released its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the firm earned $0.56 earnings per share. PPL’s revenue was up 1.5% on a year-over-year basis. On average, equities analysts anticipate that PPL Corp will post 2.35 earnings per share for the current fiscal year.
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PPL Company Profile
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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