Boston Partners Increases Holdings in PPL Corporation (NYSE:PPL)

Key Points

• Boston Partners increased its stake in PPL Corporation by 37.2%, now owning over 13 million shares valued at approximately $471.75 million.
• PPL Corporation reported a quarterly earnings per share of $0.32, falling short of the expected $0.37, while revenue was up 7.7% year-over-year at $2.03 billion.
• The company announced a quarterly dividend of $0.2725 per share, reflecting an annualized yield of 3.0% with a payout ratio of 81.34%.

Boston Partners grew its position in shares of PPL Corporation (NYSE:PPL - Free Report) by 37.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,062,423 shares of the utilities provider's stock after buying an additional 3,544,282 shares during the period. Boston Partners owned 1.77% of PPL worth $471,756,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PPL. Pinnacle Bancorp Inc. lifted its holdings in PPL by 141.0% during the 1st quarter. Pinnacle Bancorp Inc. now owns 723 shares of the utilities provider's stock worth $26,000 after purchasing an additional 423 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in PPL by 94.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 818 shares of the utilities provider's stock worth $30,000 after purchasing an additional 397 shares in the last quarter. TruNorth Capital Management LLC purchased a new stake in PPL during the 1st quarter worth about $32,000. HM Payson & Co. raised its holdings in shares of PPL by 1,057.6% in the 1st quarter. HM Payson & Co. now owns 984 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 899 shares in the last quarter. Finally, AllSquare Wealth Management LLC purchased a new stake in shares of PPL in the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 76.99% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PPL. Barclays raised PPL from a "hold" rating to a "strong-buy" rating in a report on Monday, July 7th. Guggenheim raised their price target on PPL from $38.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Wall Street Zen raised PPL from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Finally, Morgan Stanley lowered their price target on PPL from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $36.70.

Insider Buying and Selling at PPL

In other news, COO David J. Bonenberger sold 2,165 shares of PPL stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $35.86, for a total value of $77,636.90. Following the sale, the chief operating officer directly owned 45,560 shares in the company, valued at approximately $1,633,781.60. This trade represents a 4.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.28% of the company's stock.

PPL Price Performance

Shares of PPL stock traded down $0.13 during trading on Thursday, hitting $37.12. 9,394,538 shares of the stock traded hands, compared to its average volume of 7,095,387. The company has a quick ratio of 0.49, a current ratio of 0.59 and a debt-to-equity ratio of 1.07. The stock has a market cap of $27.45 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 2.67 and a beta of 0.64. The firm's fifty day moving average is $34.93 and its 200-day moving average is $34.83. PPL Corporation has a 52 week low of $30.76 and a 52 week high of $37.31.

PPL (NYSE:PPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.05). The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.99 billion. PPL had a net margin of 11.22% and a return on equity of 8.81%. PPL's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 earnings per share. Research analysts expect that PPL Corporation will post 1.83 EPS for the current fiscal year.

PPL Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th were given a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, June 10th. PPL's dividend payout ratio (DPR) is currently 81.34%.

PPL Profile

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.