Burney Co. bought a new stake in shares of PPL Corp (NYSE:PPL) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 38,343 shares of the utilities provider’s stock, valued at approximately $1,217,000.
Several other institutional investors have also added to or reduced their stakes in PPL. Liberty Wealth Management LLC acquired a new stake in shares of PPL in the fourth quarter valued at about $27,000. Private Capital Group LLC raised its position in shares of PPL by 68.6% in the first quarter. Private Capital Group LLC now owns 1,111 shares of the utilities provider’s stock valued at $35,000 after buying an additional 452 shares during the last quarter. Sandy Spring Bank increased its position in PPL by 109.1% during the fourth quarter. Sandy Spring Bank now owns 1,171 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 611 shares during the last quarter. Resources Investment Advisors Inc. increased its position in PPL by 129.8% during the first quarter. Resources Investment Advisors Inc. now owns 1,241 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 701 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new stake in PPL during the first quarter worth about $44,000. Institutional investors own 72.91% of the company’s stock.
Shares of PPL stock opened at $31.16 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.60 and a debt-to-equity ratio of 1.73. The stock has a market cap of $22.09 billion, a price-to-earnings ratio of 12.98 and a beta of 0.52. PPL Corp has a 1-year low of $26.01 and a 1-year high of $32.88.
PPL (NYSE:PPL) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.03). The company had revenue of $2.08 billion for 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 company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. Equities research analysts anticipate that PPL Corp will post 2.42 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be paid a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a yield of 5.30%. The ex-dividend date of this dividend is Friday, June 7th. PPL’s dividend payout ratio (DPR) is presently 68.75%.
Several equities research analysts recently issued reports on PPL shares. UBS Group cut their price objective on shares of PPL from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, May 17th. Raymond James restated an “average” rating on shares of PPL in a research report on Monday, May 6th. Zacks Investment Research cut shares of PPL from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. SunTrust Banks restated a “buy” rating and set a $35.00 price objective on shares of PPL in a research report on Wednesday, February 13th. Finally, Mizuho started coverage on shares of PPL in a research report on Monday, June 3rd. They set a “neutral” rating and a $30.00 price objective for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. PPL has a consensus rating of “Hold” and an average target price of $33.90.
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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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