Burney Co. Buys Shares of 38,343 PPL Corp (NYSE:PPL)

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.

TRADEMARK VIOLATION WARNING: “Burney Co. Buys Shares of 38,343 PPL Corp (NYSE:PPL)” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this article on another publication, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2019/06/13/burney-co-buys-shares-of-38343-ppl-corp-nyseppl.html.

About PPL

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.

Featured Article: Technical Analysis

Institutional Ownership by Quarter for PPL (NYSE:PPL)

Receive News & Ratings for PPL Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPL and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply