Colonial River Investments LLC Buys New Stake in PPL Corporation (NYSE:PPL)

Colonial River Investments LLC acquired a new position in shares of PPL Corporation (NYSE:PPL - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,958 shares of the utilities provider's stock, valued at approximately $287,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Partners lifted its position in PPL by 8,266.9% in the 4th quarter. Boston Partners now owns 9,518,141 shares of the utilities provider's stock worth $309,060,000 after buying an additional 9,404,382 shares during the last quarter. Norges Bank purchased a new position in PPL in the 4th quarter worth approximately $228,509,000. Raymond James Financial Inc. bought a new stake in PPL during the 4th quarter valued at $147,480,000. Invesco Ltd. raised its stake in shares of PPL by 14.0% during the fourth quarter. Invesco Ltd. now owns 27,465,566 shares of the utilities provider's stock valued at $891,532,000 after acquiring an additional 3,380,745 shares during the last quarter. Finally, Reaves W H & Co. Inc. raised its position in PPL by 182.2% during the 4th quarter. Reaves W H & Co. Inc. now owns 3,951,116 shares of the utilities provider's stock valued at $128,254,000 after purchasing an additional 2,551,070 shares during the last quarter. 76.99% of the stock is currently owned by hedge funds and other institutional investors.

PPL Price Performance

PPL stock traded down $0.45 during trading on Wednesday, reaching $33.54. The company's stock had a trading volume of 3,581,835 shares, compared to its average volume of 5,243,608. The company's fifty day moving average is $34.67 and its 200-day moving average is $34.15. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. PPL Corporation has a 1 year low of $27.24 and a 1 year high of $36.70. The company has a market capitalization of $24.79 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 2.50 and a beta of 0.64.

PPL (NYSE:PPL - Get Free Report) last released its earnings results on Wednesday, April 30th. The utilities provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.53 by $0.07. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.15 billion. PPL had a net margin of 11.49% and a return on equity of 9.14%. The company's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 earnings per share. On average, research analysts expect that PPL Corporation will post 1.83 earnings per share for the current fiscal year.

PPL Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th were issued a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Tuesday, June 10th. PPL's dividend payout ratio is presently 80.74%.

Wall Street Analysts Forecast Growth

PPL has been the subject of several research analyst reports. Wall Street Zen raised shares of PPL from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Citigroup raised PPL from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Barclays decreased their target price on shares of PPL from $36.00 to $35.00 and set an "equal weight" rating for the company in a report on Tuesday. Guggenheim upped 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. Finally, UBS Group raised their target price on shares of PPL from $35.00 to $36.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $36.70.

Insider Transactions at PPL

In related news, COO David J. Bonenberger sold 1,767 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $34.98, for a total transaction of $61,809.66. Following the completion of the sale, the chief operating officer directly owned 45,485 shares of the company's stock, valued at approximately $1,591,065.30. This trade represents a 3.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.22% of the stock is currently owned by insiders.

PPL Company 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.