IFP Advisors Inc boosted its position in PPL Corporation (NYSE:PPL - Free Report) by 15.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 110,907 shares of the utilities provider's stock after acquiring an additional 14,694 shares during the period. IFP Advisors Inc's holdings in PPL were worth $4,015,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in PPL. Summit Securities Group LLC bought a new position in PPL in the fourth quarter valued at about $26,000. Pinnacle Bancorp Inc. boosted its holdings in PPL by 141.0% during the first quarter. Pinnacle Bancorp Inc. now owns 723 shares of the utilities provider's stock worth $26,000 after buying an additional 423 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in PPL by 94.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 818 shares of the utilities provider's stock worth $30,000 after buying an additional 397 shares during the last quarter. Lee Danner & Bass Inc. bought a new position in PPL during the fourth quarter worth about $32,000. Finally, TruNorth Capital Management LLC bought a new position in PPL during the first quarter worth about $32,000. Institutional investors own 76.99% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on PPL shares. Barclays upgraded PPL from a "hold" rating to a "strong-buy" rating in a report on Monday, July 7th. Guggenheim raised their target price on PPL from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Wall Street Zen upgraded PPL from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Finally, Morgan Stanley cut their price objective on PPL from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, PPL currently has a consensus rating of "Buy" and an average target price of $36.70.
Get Our Latest Stock Analysis on PPL
Insider Buying and Selling
In other PPL news, COO David J. Bonenberger sold 1,767 shares of the firm's stock in a transaction dated 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 directly owned 45,485 shares of the company's stock, valued at $1,591,065.30. This trade represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is currently owned by corporate insiders.
PPL Stock Up 1.0%
Shares of NYSE:PPL opened at $35.98 on Monday. PPL Corporation has a 1 year low of $28.62 and a 1 year high of $36.70. The company has a market cap of $26.60 billion, a PE ratio of 26.65, a P/E/G ratio of 2.65 and a beta of 0.64. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.68. The stock's 50-day moving average is $34.22 and its 200 day moving average is $34.35.
PPL (NYSE:PPL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.07. PPL had a return on equity of 9.14% and a net margin of 11.49%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the business posted $0.54 EPS. The firm's quarterly revenue was up 8.7% compared to the same quarter last year. Sell-side analysts anticipate that PPL Corporation will post 1.83 EPS for the current year.
PPL Dividend Announcement
The firm 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. The ex-dividend date was Tuesday, June 10th. This represents a $1.09 dividend on an annualized basis and a yield of 3.03%. PPL's dividend payout ratio is presently 80.74%.
About PPL
(
Free Report)
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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