Nuveen LLC Invests $60.02 Million in PPL Corporation (NYSE:PPL)

Key Points

• Nuveen LLC has invested approximately $60.02 million in PPL Corporation, acquiring 1,662,148 shares, which constitute about 0.22% of the company.
• PPL Corporation reported earnings per share (EPS) of $0.32 in its latest quarter, falling short of the consensus estimate of $0.37, while revenue reached $2.03 billion.
• The company's latest quarterly dividend was $0.2725 per share, yielding 2.9% annually, with a payout ratio of 81.34%.

Nuveen LLC bought a new position in shares of PPL Corporation (NYSE:PPL - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,662,148 shares of the utilities provider's stock, valued at approximately $60,020,000. Nuveen LLC owned 0.22% of PPL as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PPL. Merewether Investment Management LP acquired a new position in shares of PPL during the fourth quarter worth approximately $70,063,000. JPMorgan Chase & Co. raised its position in shares of PPL by 42.9% during the first quarter. JPMorgan Chase & Co. now owns 4,779,155 shares of the utilities provider's stock worth $172,575,000 after purchasing an additional 1,434,778 shares during the period. Bank of America Corp DE raised its position in shares of PPL by 12.1% during the fourth quarter. Bank of America Corp DE now owns 12,672,428 shares of the utilities provider's stock worth $411,347,000 after purchasing an additional 1,371,000 shares during the period. Balyasny Asset Management L.P. purchased a new stake in PPL in the 4th quarter valued at $28,261,000. Finally, GAMMA Investing LLC raised its position in PPL by 4,095.6% in the 1st quarter. GAMMA Investing LLC now owns 803,375 shares of the utilities provider's stock valued at $29,010,000 after buying an additional 784,227 shares during the last quarter. 76.99% of the stock is owned by institutional investors and hedge funds.

PPL Trading Up 0.9%

Shares of PPL stock opened at $37.22 on Thursday. PPL Corporation has a 1 year low of $30.76 and a 1 year high of $37.25. The firm has a market cap of $27.52 billion, a PE ratio of 27.78, a P/E/G ratio of 2.65 and a beta of 0.64. The stock has a fifty day moving average price of $34.87 and a 200-day moving average price of $34.80. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 0.49.

PPL (NYSE:PPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 earnings per share. Equities research analysts anticipate that PPL Corporation will post 1.83 EPS for the current year.

PPL Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th were paid a dividend of $0.2725 per share. The ex-dividend date was Tuesday, June 10th. This represents a $1.09 annualized dividend and a dividend yield of 2.9%. PPL's dividend payout ratio is presently 81.34%.

Analysts Set New Price Targets

PPL has been the subject of a number of analyst reports. Morgan Stanley lowered their price target on PPL from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. Wall Street Zen raised PPL from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Guggenheim increased their price target on PPL from $38.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Barclays raised PPL from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 7th. 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $36.70.

Insider Buying and Selling at PPL

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

PPL 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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