OppenheimerFunds Inc. boosted its position in shares of PPL Corp (NYSE:PPL) by 51.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,102,936 shares of the utilities provider’s stock after buying an additional 374,243 shares during the quarter. OppenheimerFunds Inc. owned approximately 0.15% of PPL worth $35,007,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Liberty Wealth Management LLC purchased a new position in PPL during the 4th quarter valued at $27,000. Sandy Spring Bank increased its position in PPL by 109.1% during the 4th quarter. Sandy Spring Bank now owns 1,171 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 611 shares during the period. Private Capital Group LLC increased its position in PPL by 68.6% during the 1st quarter. Private Capital Group LLC now owns 1,111 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 452 shares during the period. Berman Capital Advisors LLC purchased a new position in PPL during the 4th quarter valued at $39,000. Finally, Resources Investment Advisors Inc. increased its position in PPL by 129.8% during the 1st quarter. Resources Investment Advisors Inc. now owns 1,241 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 701 shares during the period. Institutional investors own 72.91% of the company’s stock.
A number of brokerages have issued reports on PPL. Mizuho began coverage on shares of PPL in a research report on Monday, June 3rd. They set a “neutral” rating and a $30.00 price objective on the stock. Zacks Investment Research raised shares of PPL from a “sell” rating to a “hold” rating and set a $32.00 price objective on the stock in a research report on Thursday, May 30th. UBS Group reduced their price objective on shares of PPL from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, May 17th. Raymond James reissued an “average” rating on shares of PPL in a research report on Monday, May 6th. Finally, Royal Bank of Canada downgraded shares of PPL from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $32.00 to $33.00 in a research report on Friday, March 8th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $33.90.
Shares of NYSE:PPL traded up $0.50 during midday trading on Wednesday, reaching $31.11. The company’s stock had a trading volume of 61,605 shares, compared to its average volume of 4,612,471. The company has a market capitalization of $22.42 billion, a PE ratio of 12.96 and a beta of 0.52. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.60 and a quick ratio of 0.53. PPL Corp has a 12-month low of $25.68 and a 12-month high of $32.88.
PPL (NYSE:PPL) last released its earnings results on Thursday, May 2nd. The utilities provider reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.03). The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.19 billion. PPL had a return on equity of 14.52% and a net margin of 23.79%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 earnings per share. Equities analysts anticipate that PPL Corp will post 2.42 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 10th will be given a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date of this dividend is Friday, June 7th. PPL’s dividend payout ratio is presently 68.75%.
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 414,000 electric and 328,000 natural gas customers in Louisville and adjacent areas in Kentucky; 527,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.
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