PLDT (NYSE:PHI) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of PLDT (NYSE:PHI) from an overweight rating to a neutral rating in a report issued on Monday morning, MarketBeat.com reports.

Other equities research analysts have also issued research reports about the company. Zacks Research raised PLDT from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Weiss Ratings downgraded PLDT from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, June 3rd. Finally, TD Cowen reissued a “hold” rating on shares of PLDT in a report on Thursday, August 13th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, PLDT presently has a consensus rating of “Hold”.

PLDT Stock Up 0.9%

PHI stock opened at $19.04 on Monday. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.44 and a quick ratio of 0.40. The company’s 50 day simple moving average is $18.81 and its 200-day simple moving average is $20.35. PLDT has a 12 month low of $17.05 and a 12 month high of $24.51. The firm has a market capitalization of $4.11 billion, a PE ratio of 8.58, a P/E/G ratio of 2.79 and a beta of 0.60.

PLDT Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, August 27th will be given a dividend of $0.7515 per share. The ex-dividend date is Thursday, August 27th. This represents a yield of 771.0%. PLDT’s dividend payout ratio is 50.00%.

Institutional Trading of PLDT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PHI. Quantinno Capital Management LP lifted its holdings in shares of PLDT by 47.0% during the 1st quarter. Quantinno Capital Management LP now owns 121,103 shares of the technology company’s stock worth $2,548,000 after acquiring an additional 38,731 shares during the period. Renaissance Technologies LLC boosted its position in shares of PLDT by 1.3% in the first quarter. Renaissance Technologies LLC now owns 2,327,067 shares of the technology company’s stock worth $48,961,000 after acquiring an additional 29,024 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in PLDT by 74.5% in the first quarter. EverSource Wealth Advisors LLC now owns 7,390 shares of the technology company’s stock valued at $155,000 after purchasing an additional 3,155 shares during the period. PNC Financial Services Group Inc. grew its holdings in PLDT by 24.4% in the first quarter. PNC Financial Services Group Inc. now owns 26,494 shares of the technology company’s stock valued at $557,000 after purchasing an additional 5,205 shares during the period. Finally, Corient Private Wealth LLC increased its position in PLDT by 16.1% during the fourth quarter. Corient Private Wealth LLC now owns 16,684 shares of the technology company’s stock worth $363,000 after purchasing an additional 2,312 shares during the last quarter. Hedge funds and other institutional investors own 2.26% of the company’s stock.

PLDT Company Profile

Philippine Long Distance Telephone Company (PLDT) is the largest integrated telecommunications provider in the Philippines, offering a comprehensive suite of fixed?line, wireless, broadband Internet, and digital solutions to residential, enterprise, and government customers. Founded in 1928, PLDT has played a pivotal role in the development of the country’s communications infrastructure, evolving from a traditional operator of long?distance telephone lines into a diversified digital services provider.

PLDT operates two main business segments: its fixed?line and broadband operations under the PLDT brand and its wireless services through subsidiary Smart Communications.