Mirae Asset Global Investments Co. Ltd. Has $2.82 Million Stock Holdings in PPL Corporation (NYSE:PPL)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of PPL Corporation (NYSE:PPL - Free Report) by 17.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 79,088 shares of the utilities provider's stock after purchasing an additional 11,782 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in PPL were worth $2,824,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in PPL. Norinchukin Bank The raised its stake in shares of PPL by 1.1% during the fourth quarter. Norinchukin Bank The now owns 28,002 shares of the utilities provider's stock worth $909,000 after buying an additional 299 shares during the last quarter. Frank Rimerman Advisors LLC grew its holdings in PPL by 3.0% during the 4th quarter. Frank Rimerman Advisors LLC now owns 11,272 shares of the utilities provider's stock worth $366,000 after acquiring an additional 329 shares during the period. Stock Yards Bank & Trust Co. raised its position in shares of PPL by 5.0% during the 1st quarter. Stock Yards Bank & Trust Co. now owns 6,953 shares of the utilities provider's stock valued at $251,000 after acquiring an additional 329 shares during the last quarter. Norden Group LLC raised its position in shares of PPL by 3.9% during the 4th quarter. Norden Group LLC now owns 9,043 shares of the utilities provider's stock valued at $294,000 after acquiring an additional 341 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of PPL by 6.3% during the 4th quarter. Signaturefd LLC now owns 5,930 shares of the utilities provider's stock valued at $192,000 after acquiring an additional 350 shares during the last quarter. 76.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Citigroup upgraded PPL from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Wall Street Zen upgraded shares of PPL from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Guggenheim lifted their price objective on shares of PPL from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Morgan Stanley lowered their target price on shares of PPL from $38.00 to $37.00 and set an "overweight" rating for the company in a research note on Wednesday, June 18th. Finally, Barclays reduced their price target on shares of PPL from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 1st. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $36.70.

Insider Buying and Selling

In other news, COO David J. Bonenberger sold 1,767 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $34.98, for a total transaction of $61,809.66. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.28% of the company's stock.

PPL Stock Up 0.7%

Shares of PPL stock traded up $0.22 during trading hours on Friday, hitting $33.76. 2,411,936 shares of the company were exchanged, compared to its average volume of 4,977,759. PPL Corporation has a 52 week low of $27.24 and a 52 week high of $36.70. The company has a current ratio of 0.81, a quick ratio of 0.68 and a debt-to-equity ratio of 1.11. The business has a 50 day moving average of $34.52 and a two-hundred day moving average of $34.19. The company has a market capitalization of $24.96 billion, a PE ratio of 25.01, a PEG ratio of 2.49 and a beta of 0.64.

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

PPL Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th were 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 was Tuesday, June 10th. PPL's dividend payout ratio is presently 80.74%.

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.