Bank of Hawaii reduced its stake in PPL Corp. (NYSE:PPL) by 3.0% during the second quarter, Holdings Channel reports. The fund owned 118,805 shares of the company’s stock after selling 3,647 shares during the period. Bank of Hawaii’s holdings in PPL Corp. were worth $4,485,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Princeton Portfolio Strategies Group LLC acquired a new position in PPL Corp. during the first quarter valued at $210,000. National Pension Service increased its position in PPL Corp. by 4.2% in the first quarter. National Pension Service now owns 413,945 shares of the company’s stock valued at $15,759,000 after buying an additional 16,582 shares during the last quarter. AMP Capital Investors Ltd increased its position in PPL Corp. by 64.6% in the first quarter. AMP Capital Investors Ltd now owns 311,090 shares of the company’s stock valued at $11,728,000 after buying an additional 122,143 shares during the last quarter. Renaissance Technologies LLC increased its position in PPL Corp. by 1,649.5% in the first quarter. Renaissance Technologies LLC now owns 1,347,100 shares of the company’s stock valued at $51,284,000 after buying an additional 1,270,100 shares during the last quarter. Finally, Mariner Wealth Advisors LLC increased its position in PPL Corp. by 3.4% in the first quarter. Mariner Wealth Advisors LLC now owns 6,278 shares of the company’s stock valued at $239,000 after buying an additional 207 shares during the last quarter. Institutional investors and hedge funds own 69.51% of the company’s stock.
Shares of PPL Corp. (NYSE:PPL) traded down 0.1350% during trading on Wednesday, hitting $33.3649. 1,915,171 shares of the company’s stock were exchanged. The company has a market cap of $22.62 billion, a P/E ratio of 12.9422 and a beta of 0.38. PPL Corp. has a 12-month low of $32.08 and a 12-month high of $39.92. The company has a 50-day moving average of $34.15 and a 200-day moving average of $36.66.
PPL Corp. (NYSE:PPL) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.03. PPL Corp. had a return on equity of 14.77% and a net margin of 23.56%. The firm earned $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the company posted $0.49 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts expect that PPL Corp. will post $2.35 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were given a $0.38 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $1.52 annualized dividend and a yield of 4.55%. PPL Corp.’s payout ratio is 58.69%.
Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of PPL Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, July 14th. Jefferies Group downgraded shares of PPL Corp. from a “buy” rating to a “hold” rating and decreased their price target for the stock from $41.50 to $38.00 in a research report on Thursday, July 14th. Barclays PLC downgraded shares of PPL Corp. from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $41.00 to $42.00 in a research report on Monday, June 27th. Vetr upgraded shares of PPL Corp. from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Thursday, July 14th. Finally, Credit Suisse Group AG restated a “hold” rating and set a $44.00 price objective on shares of PPL Corp. in a research report on Friday, August 5th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $37.86.
About PPL Corp.
PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. It operates through three segments: U.K.
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