Chemical Bank trimmed its position in shares of PPL Co. (NYSE:PPL) by 35.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,132 shares of the utilities provider’s stock after selling 22,836 shares during the quarter. Chemical Bank’s holdings in PPL were worth $1,273,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in PPL by 5.8% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 260,868 shares of the utilities provider’s stock worth $8,074,000 after purchasing an additional 14,288 shares in the last quarter. OLD Republic International Corp boosted its position in PPL by 25.7% during the fourth quarter. OLD Republic International Corp now owns 1,061,000 shares of the utilities provider’s stock worth $32,838,000 after purchasing an additional 217,000 shares in the last quarter. Sawtooth Solutions LLC boosted its position in PPL by 346.7% during the fourth quarter. Sawtooth Solutions LLC now owns 53,809 shares of the utilities provider’s stock worth $1,665,000 after purchasing an additional 41,764 shares in the last quarter. Schafer Cullen Capital Management Inc. boosted its position in PPL by 13.2% during the fourth quarter. Schafer Cullen Capital Management Inc. now owns 677,990 shares of the utilities provider’s stock worth $20,984,000 after purchasing an additional 78,971 shares in the last quarter. Finally, Cullen Capital Management LLC boosted its position in PPL by 47.2% during the fourth quarter. Cullen Capital Management LLC now owns 150,040 shares of the utilities provider’s stock worth $4,644,000 after purchasing an additional 48,140 shares in the last quarter. Institutional investors own 71.44% of the company’s stock.
A number of research firms have commented on PPL. Zacks Investment Research upgraded PPL from a “sell” rating to a “hold” rating in a research report on Wednesday. Royal Bank of Canada upgraded PPL from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $28.32 to $33.00 in a research report on Tuesday, March 6th. SunTrust Banks set a $36.00 target price on PPL and gave the stock a “buy” rating in a research report on Friday, February 23rd. UBS reiterated a “buy” rating and set a $36.00 target price (down from $37.00) on shares of PPL in a research report on Friday, February 23rd. Finally, ValuEngine downgraded PPL from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $37.50.
PPL stock opened at $27.13 on Friday. PPL Co. has a 1-year low of $27.08 and a 1-year high of $40.20. The firm has a market capitalization of $18,892.04, a price-to-earnings ratio of 16.54, a PEG ratio of 1.96 and a beta of 0.54. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.57 and a quick ratio of 0.49.
PPL (NYSE:PPL) last released its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.07. PPL had a return on equity of 14.75% and a net margin of 15.15%. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. equities research analysts anticipate that PPL Co. will post 2.32 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 6.04%. This is a boost from PPL’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, March 8th. PPL’s payout ratio is 100.00%.
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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 in three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves 411,000 electric and 326,000 natural gas customers in Louisville and adjacent areas in Kentucky; 525,000 customers in central, southeastern, and western Kentucky; and approximately 28,000 customers in 5 counties in southwestern Virginia, and 3 customers in Tennessee.
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