Envestnet Portfolio Solutions Inc. Has $2.27 Million Holdings in PPL Corporation (NYSE:PPL)

Envestnet Portfolio Solutions Inc. lessened its position in shares of PPL Corporation (NYSE:PPL - Free Report) by 14.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,837 shares of the utilities provider's stock after selling 10,982 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in PPL were worth $2,269,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Boston Partners grew its position in shares of PPL by 8,266.9% during 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 period. Norges Bank acquired a new position in shares of PPL in the fourth quarter valued at approximately $228,509,000. Raymond James Financial Inc. acquired a new stake in shares of PPL in the 4th quarter valued at about $147,480,000. Invesco Ltd. boosted its position in PPL by 14.0% during the 4th quarter. Invesco Ltd. now owns 27,465,566 shares of the utilities provider's stock worth $891,532,000 after acquiring an additional 3,380,745 shares during the last quarter. Finally, Reaves W H & Co. Inc. grew its position in PPL by 182.2% in the fourth 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 in the last quarter. 76.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PPL. Wall Street Zen raised shares of PPL from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Barclays boosted their price target on PPL from $33.00 to $36.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 25th. Morgan Stanley lowered their price target on shares of PPL from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. Guggenheim upped their price objective on PPL from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Citigroup upgraded PPL from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. 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's stock. Based on data from MarketBeat, PPL presently has an average rating of "Moderate Buy" and a consensus price target of $36.80.

PPL Price Performance

Shares of NYSE PPL opened at $33.75 on Monday. PPL Corporation has a 1-year low of $27.24 and a 1-year high of $36.70. The firm has a market capitalization of $24.95 billion, a P/E ratio of 25.00, a P/E/G ratio of 2.49 and a beta of 0.65. The firm's 50-day moving average price is $34.91 and its 200-day moving average price is $34.11. The company has a current ratio of 0.81, a quick ratio of 0.68 and a debt-to-equity ratio of 1.11.

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

PPL Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be given a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Tuesday, June 10th. PPL's payout ratio is 80.74%.

Insiders Place Their Bets

In other news, COO David J. Bonenberger sold 1,767 shares of PPL stock in a transaction 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 sale, the chief operating officer now directly owns 45,485 shares in the company, valued at $1,591,065.30. The trade was a 3.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.22% of the company's stock.

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.

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