PPL Corporation (NYSE:PPL) Stake Raised by Citigroup Inc.

Key Points

• Citigroup Inc. increased its stake in PPL Corporation by 114.8% during the first quarter, acquiring an additional 421,004 shares to own a total of 787,754 shares, valued at approximately $28.45 million.
• PPL Corporation reported $2.03 billion in revenue for its latest quarter, exceeding analysts' expectations, although it missed EPS estimates with earnings of $0.32 per share.
• The company announced a quarterly dividend of $0.2725 per share, resulting in a 3.0% dividend yield and a payout ratio of 81.34%.

Citigroup Inc. grew its position in shares of PPL Corporation (NYSE:PPL - Free Report) by 114.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 787,754 shares of the utilities provider's stock after buying an additional 421,004 shares during the period. Citigroup Inc. owned about 0.11% of PPL worth $28,446,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. increased its stake in PPL by 141.0% during the first quarter. Pinnacle Bancorp Inc. now owns 723 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 423 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in PPL by 94.3% in 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 during the last quarter. TruNorth Capital Management LLC bought a new position in PPL in the 1st quarter worth approximately $32,000. HM Payson & Co. raised its position in shares of PPL by 1,057.6% during 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 during the last quarter. Finally, AllSquare Wealth Management LLC bought a new stake in shares of PPL during the 1st quarter valued at $45,000. 76.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Barclays raised shares of PPL from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 7th. Guggenheim raised their target price on shares of PPL from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Morgan Stanley cut their target price on shares of PPL from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. Finally, Wall Street Zen upgraded shares of PPL from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $36.70.

PPL Stock Down 1.3%

PPL stock traded down $0.47 during trading hours on Friday, hitting $36.61. The stock had a trading volume of 2,449,597 shares, compared to its average volume of 5,612,090. PPL Corporation has a 12-month low of $30.91 and a 12-month high of $37.31. The stock has a market capitalization of $27.07 billion, a P/E ratio of 27.33, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. 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's 50-day moving average price is $34.93 and its 200-day moving average price is $34.83.

PPL (NYSE:PPL - Get Free Report) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.05). The business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $1.99 billion. PPL had a net margin of 11.22% and a return on equity of 8.81%. The company's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the business posted $0.38 EPS. Equities research analysts anticipate that PPL Corporation will post 1.83 EPS for the current fiscal year.

Insider Activity at PPL

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

About PPL

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.